 Definition (Strategic) Vision. Description.
A Vision is the desired future state at which a company
hopes to arrive. Essentially the strategic aim of the corporation. It is the
imaginative picture of the future state of affairs a firm wishes to achieve.
Vision comes from Latin videre - to see. A vision is typically a type
of aim at a high and less-specific level in comparison to a medium-level
Objective or a low-level Target.
Vision should not be confused with a
Mission (the motives,
drivers, principles which set a firm in motion: the combination of the corporate
purpose, strategy, values, standards and behaviors) nor with
Moral Purpose (a value
that, when it is articulated, appeals to the innate sense which is held by
some individuals of what is right and what is worthwhile).
Vision is similar to Hamel and Prahalad's
Strategic Intent
(an ambitious and compelling dream that energizes; which provides the emotional
and intellectual energy for the journey to the future).
Often, the strategic vision is reflected in a summarized form
in the Vision Statement.
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Components of Vision
"The vision is 'the dream of the entrepreneur'. It's the corporate ambition.
It is a company's view of the role it plays in the market. Visions may relate to three components:
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Strategic Vision Special Interest Group
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Compare with:
Strategic Intent
| Ashridge Mission
Model |
Moral Purpose | CSFs
and KPIs | VMOST
| Business Models
| Corporate Charter
| Storytelling |
Strategic Analysis
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