Components of a Corporate Vision

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Components of a Corporate 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:
1. Opinions about where the company believes the market is going (example: we believe that due to tempestuous communication technology developments, over the next five years consumers will develop a strong need for products that help them navigate the abundance of information online.
2. Identity of the company. This will often be based on the core competencies of the company.
3. Long term goals of the company.
Besides these 3 things, the vision should also be comprehendable and contain a clear motivating force that the entire company can identify with.

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		1 Aisha Mumuni, Nigeria
	A Vision for a Country? Hello Marten, My team has a vision statement that speaks to what we want to see happen in our COUNTRY as opposed to what we want our COMPANY to look like. It does however clearly indicate our "role" in achieving this vision for our country and it works quite well in motivating and focusing the team. I am curious - because we really struggled with this - to know if you have seen this approach working for anyone i.e. visioning the future of say, a country rather than an organization and the role of your company in it. If yes, please can you share this? Thank you!

		1 Abdul Muwanika Management Consultant, Uganda
	Elements of an Organizational Vision Absolutely those three plus motivation are crucial elements (components) of a vision statement. In different wording we can also describe them as: - Future forecasting: Reflects on the clear hope for the future and provides a picture of what the entity looks like in future; - Purpose driven: Giving the employees a sense of purpose. For instance seeing themselves building a cathedral rather than laying stones; - Inspirational and emotional: Create an image in peoples' heads that brings some enthusiasm (but not rational); - Memorable and provides guidance: It has to be short - five words or so only; and represents a dream that is beyond what the organisation thinks is possible. These foregoing elements are better communicated in a vision preparation guideline which are shared with the stakeholders (internal and external for use and ownership).