Company Vision Statements – Essential for Strategic Leadership

Are you setting a vision for your team as the new year begins? Or perhaps your organisation is undergoing an overhaul, and an updated vision is top of the agenda? Both scenarios are common at the start of the year as leaders prepare for the months ahead.

A vision is a crucial part of any strategic plan aimed at creating a different future.

The key is that it doesn’t matter when we set a vision, as long as we do. The added benefit is that a vision can be communicated throughout the organisation, inspiring employees at all levels.

Ultimately, you can’t lead effectively without a clear vision.

Defining a Vision

Many employees confuse the terms "vision" and "mission", so let’s begin with a definition of a company vision.

Though there are slight variations in definition, a vision fundamentally communicates what an organisation aims to create in the future – ideally something different from the present.

A vision is typically crafted by the senior leadership team to elevate everyday thinking to a higher level. But isn’t that what a mission does too? Not quite!

Here’s an example to clarify the difference, using Walmart, the world’s largest retailer.

• Walmart’s vision statement: “To be the best retailer in the hearts and minds of consumers and employees.”
• Walmart’s mission statement: “Saving people money so they can live better.”

The vision communicates “where are we going?” and “what will success look like in the future?” The mission, on the other hand, focuses on what the company does on a daily basis.

The Flexibility of a Vision

Having a vision at different levels within an organisation provides employees with clarity on both the task at hand and the future direction. Essentially, you’re offering your team a vivid image of the future you want to create.

Types of Vision

Most vision statements in today’s economy tend to fall into one of two categories:

1. Superlative
2. Quantitative

Superlative Vision

This is a common style of statement, and it’s where Walmart’s vision falls. It focuses on being the best or becoming number one.

Quantitative Vision

A quantitative vision usually includes specific targets, such as revenue goals or measurable outcomes. For instance, Dolly Parton’s Imagination Library aims to improve child literacy by ensuring every child from birth to age 5 has access to books.

Crafting an Effective Vision

If you’re questioning whether your vision statement is fit for purpose or want to create a team vision to boost focus and performance, here are some key considerations:

1. Into the Future – 5+ Years

A vision should provide a clear picture of the future, something to strive towards over the long term. It typically covers a period of 5 or more years. For example, Walmart’s vision to be the best retailer was set some time ago, and they’re well on their way to achieving it, depending on the criteria used.

2. Directional, Future-Focused, and Ambitious

A good vision should be big, directional, and written in the future tense. For instance, Walmart’s vision – “To be the best retailer in the hearts and minds of consumers and employees” – clearly meets these criteria. Similarly, Microsoft’s vision to put “a computer on every desk and in every home; all running Microsoft software” is both future-focused and ambitious.

A vision statement is often referred to as a guiding light for the journey ahead.

Top Tip: The more descriptive your vision, the easier it is for your team to understand and emotionally connect with it.

3. Emotional Buy-In

As a leader, you want your team to give their best. Yes, people are paid to do a job, but if it’s “just a job” to them, you’ll never see their best work. That’s why getting emotional buy-in through a compelling vision is crucial at every level.

Fortunately, getting employees emotionally invested is easier than you might think. It’s about showing them how their work contributes to the company’s vision and the positive impact this has on people’s lives. Helping your team see the relevance of their daily tasks to the broader vision is key.

It’s no wonder that companies like Microsoft dominate the tech industry or that the Imagination Library scheme went global in a few short years – both have clear, inspiring visions that employees and stakeholders can rally behind.

Many thanks,

Alex & The Excel Team

P.S. If you would like to discuss any of your other learning & development challenges, book in your discovery call.

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