The vision statement indicates the characteristics of your organisation in the future and can help answer many questions about what it does.
Now, it is important that a vision statement be able to stand the test of time and provide guidance to decision makers as they determine the direction of the organisation into the future. It’s vital that your vision statement is a reflection of your intent.
Most vision statements include some aspects of three important elements:
- a core ideology
- an envisioned future
- recognition of service to stakeholders
The core ideology of the vision statement contains a statement about the firm’s values and “reason for being.” The envisioned future is a statement that describes what the organisation will be like if it achieves its most important goals. What does success look like. Whilst the final part of the vision statement is the recognition of how the organisation serves its stakeholders, including owners/creditors, employees and customers, as well as the community and society.