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Benefits of A Vision Statement

A strategic vision outlines a company's future direction over the next 5-10 years. It defines what the business will look like, which customers it will serve, its market position, operations, and capabilities. Developing a strategic vision provides long-term guidance for the organization and inspires purposeful action. It establishes the company's goals and identity. Communicating the strategic vision through a vision statement helps senior leaders agree on direction, guides decision making, and motivates employees by giving the organization a sense of purpose and future.

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Dhanraj Khona
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28 views

Benefits of A Vision Statement

A strategic vision outlines a company's future direction over the next 5-10 years. It defines what the business will look like, which customers it will serve, its market position, operations, and capabilities. Developing a strategic vision provides long-term guidance for the organization and inspires purposeful action. It establishes the company's goals and identity. Communicating the strategic vision through a vision statement helps senior leaders agree on direction, guides decision making, and motivates employees by giving the organization a sense of purpose and future.

Uploaded by

Dhanraj Khona
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Q.1A strategic vision is a view of an organizations future direction and business makeup.

It is a guiding
concept for what the organization is trying to do and to become. A vision statement answers the questions What will our business look like in 5 to 10 years from now? A strategic vision is a roadmap of a companys future the direction it is headed, the customer focus it should have, the market position it should try to occupy, the business activities to be pursued, and the capabilities it plans to develop. Forming a strategic vision of what the companys future business makeup will be and where the organization is headed is needed so as to provide long-term direction, delineate what kind of enterprise the company is trying to become, and infuse the organization with a sense of purposeful action. Strategic vision charts the course for the organization to pursue and creates organizational purpose and identity. Strategic vision spells out a direction and describes the destination. 1. 2. 3. 4. 5.

Benefits of a Vision Statement

It crystallizes senior executives own views about firm long-term direction and future. It guides managerial decision making. It conveys an organizational purpose that arouses employee buy-in and commitment. It provides a beacon lower-level managers can use to form departmental missions, set departmental objectives, and craft strategies. 6. It helps an organization prepare for the future It empowers people and focuses their efforts It focuses energy for greater effectiveness It raises the standard of excellence It establishes meaning for today It gives hope for the future It brings unity to community It provides a sense of continuity It raises commitment level It brings positive change

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