What is a Company Vision?
A company vision is a statement that outlines the future aspirations and goals of a company. It defines the long-term direction the company wants to take and the impact it wants to have on its industry, customers, and society.
Included in a Company Vision
A company vision typically includes a brief statement that communicates the company's purpose, values, and desired outcomes. It should be inspiring and memorable, providing employees and stakeholders with a sense of direction and a shared sense of purpose. It may also include specific objectives, such as market share or revenue targets, but these are typically secondary to the overall vision.
Why Having a Company Vision is Important
A company vision is important for several reasons:
- It provides a clear direction for the company and its employees, guiding decision-making and ensuring everyone is working towards the same goals.
- It helps attract and retain top talent who are aligned with the company's values and purpose.
- A compelling vision can inspire and motivate employees, customers, and stakeholders, increasing loyalty and engagement.
How are Company Visions Used in Business?
A company vision is used in several ways in business:
- It guides strategic planning and decision-making, ensuring that actions align with the long-term goals of the company.
- It is used to communicate the company's purpose and values to employees, customers, and stakeholders.
- A company vision can be used to attract and retain top talent, build brand awareness, and differentiate the company from competitors.
5 Steps to Creating a Company Vision
Set Goals
Set goals in your vision. What do you want to achieve? Do you want to eradicate a certain disease or make it easy to buy hardware online? What is your overall objective?
Consider Company Values
Consider your company’s core values. Are you here to help people learn a new skill, or do you want to empower users to travel more? Incorporate your values into your vision.
Use a Mission Statement
Have a strong mission statement. Sometimes it can be one simple sentence that tells readers who and what you are.
Keep it Simple
Don’t go into too much detail with your company vision. Keep it short and sweet. It should be easy to understand even by those who are not familiar with your particular field.
Establish a Timeframe
You’ve already told us your goals, but when do you want them completed by? Give us a timeline so we know when we can expect a real result from the company.
Frequently Asked Questions About Company Visions
How often should a company vision be updated?
A company vision should be reviewed periodically to ensure it is still relevant and aligned with the company's goals and values. It does not need to be updated frequently, but major changes in the company or industry may necessitate a revision.
Who should be involved in creating a company vision?
Creating a company vision should involve input from a diverse group of stakeholders, including executives, employees, customers, and shareholders. This ensures the vision is inclusive, reflects a variety of perspectives, and is more likely to be embraced by everyone involved.
What is the difference between a company vision and a mission statement?
A company vision outlines the long-term goals and aspirations of the company, while a mission statement focuses on the present purpose and values of the company. The vision is future-oriented and aspirational, while the mission is more concrete and specific.
Can a company have more than one vision?
A company can have multiple visions, but they should be complementary and aligned with the overall purpose and values of the company. Having too many visions can create confusion and dilute the impact of each individual vision.
© 2024 - Clever Prototypes, LLC - All rights reserved.
StoryboardThat is a trademark of Clever Prototypes, LLC, and Registered in U.S. Patent and Trademark Office
