What is a company’s vision?
What is a vision?
A vision is the company’s view of the future. To some extent, it reflects the development of the company and the direction it wants to take.
Core elements of the vision
The vision of a company should include at least the following elements:
What does the company find important in the environment and with the target group.
Identity of the company translated to the customer.
Long-term goals of the organization.
The vision of a company is not always explicitly expressed. In the examples of mission statements, you see that only Philips devotes a few lines to vision. The other organizations do not elaborate on their future wishes and expectations. The vision can often only be found in the company’s marketing plan and strategic business operations.
Critical success factors
A vision is built by an environmental picture (what will the company’s environment look like in the future), a dream picture (what does the company want to have achieved in that future) and a success formula (how can the dreamed position be achieved). In this process, critical success factors (CSFs) play an important role:
- What factors make the organization unique
- What is decisive for success
- What are the core competencies
- What factors in the vision are essential for viability