Vision statement

A vision statement is a high-level,^[1] inspirational^[1] statement of an idealistic emotional future of a company or group. Vision describes the basic human emotion that a founder intends to be experienced by the people the organization interacts with.^{[2][circular reference][3][circular reference]}

Vision statements may fill the following functions for a company:^[4]

• Serve as foundations for a broader strategic plan.
• Motivate existing employees and attract potential employees by clearly categorizing the company's goals and attracting like-minded individuals.
• Focus company efforts and facilitate the creation of core competencies by directing the company to only focus on strategic opportunities that advance the company's vision.
• Help companies differentiate from competitors.^[5]

A consensus does not exist on the characteristics of a "good" or "bad" vision statement. Commonly cited traits include:^[6]

• concise:^[1] able to be easily remembered and repeated
• clear: defines a prime goal^[5]
• time horizon: defines a time horizon
• future-oriented: describes where the company is going rather than the current state
• stable: offers a long-term perspective and is unlikely to be impacted by market or technology changes
• challenging: not something that can be easily met and discarded
• abstract: general enough to encompass all of the organization's interests and strategic direction
• inspiring:^[1] motivates employees and is something that employees view as desirable

• Strategic planning
• Mission statement
• Strategy Markup Language

• Project Management Institute (2021). A guide to the project management body of knowledge (PMBOK guide). Project Management Institute (7th ed.). Newtown Square, PA. ISBN 978-1-62825-664-2. 

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