“Companies that enjoy enduring success have core values and a core purpose that remain fixed while their business strategies and practices endlessly adapt to a changing world.”
Vision Statement describes the future. It tells where the company is going or where the company wants to go. While Mission Statements describes the presnet status: why the company exists today and / or what the company is doing to pursue its vision of the future. Together they provide direction for the business by focusing its attention on doing things day-to-day to accomplish its mission, while taking steps to pursue its vision of the future - its long-term business intent.
Vision and mission statements are often mentioned in front of annual reports of companies as well as when we log into websites of different companies, we will come across their vision and mission statements. They might also be displayed in the company’s premises as well as they are emphasized in the company’s information and major documents.
Vision Statement: What do we want to become?
Vision is the power of seeing or imaging future. In strategic planning, vision is also defined as looking ahead into future.
It is essential that the management in any organization agree upon the basic vision of the company that it strives to achieve in the long term. A vision statement should answer the question, “What do we want to become?” A clear vision statement lays a foundation for the preparation of a comprehensive mission statement.
A vision statement, thus, developed by the management should be short, preferably one sentence and should be developed consulting with as many managers and executives as possible.
Reasons for having a vision statement
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