

John Burson  edited Friday, February 21, 2020

Subscribe

The Importance of Company Vision Statement in Strategic Management

There are so many moving parts during company's scale, new markets, new tools, new processes, new people, new ideas. To keep everything and everyone in a focus on the same point company leaders have to define multi-dimension point in the future, is the purpose of vision statement in strategic company management.

To share and communicate the vision for a company with an external world, company leaders define the mission statement.

Elements of a Vision Statement

The elements of strategic vision are next:

1. Core ideology that remains relatively the same, formed by two elements.
   1. Core values to which the business is committed.
   2. Core purpose of the business.
2. Visionary goals the business will pursue to fulfill its mission.

Important: The mission is an expression of what already exists, ideology is a source.

Mission
Company Strategic Vision
Core Values		Core Purpose		Visionary Goals
Constant ideology				Dinamic, long-term (years) goals.

fig#1. The vision statement components


Credits:
Photo Wil Stewart @wilstewart3