An Effective Strategic Vision Statement Matters
According to research in Harvard Business Review of tens of thousands of working people around the world, effectively enlisting the hearts and minds of your organization in a shared vision of the future differentiates leaders from non-leaders. In short, companies without an effective strategic vision struggle to provide a meaningful context for their mission, goals, strategies, and implementation plans.
Strategic Clarity Matters
The lack of a clear strategic vision can hamper short-term performance and long-term organizational health. Effective strategies provide crystal clear reasoning why the company, function or team does what it does and how specific actions should lead to superior outcomes in the future.
Our organizational alignment research found that strategic clarity accounts for 31% of the difference between high and low performing organizations in terms of revenue, profitability, customer satisfaction, and employee engagement.
Strategic Vision Defined
We define Strategic Vision as “What the organization hopes to become — the business you will be in tomorrow.” There are a few common paths to creating a strategic vision.
Regardless of where you start in your strategy retreat, a clear vision and mission combined with your corporate values provide the foundation for strategic success. Without those three strategic drivers, it is difficult to develop annual strategic goals and actions that propel the enterprise forward in an aligned and differentiated manner.
Five Attributes of an Effective Strategic Vision Statement
While there is no perfect formula, based upon over 25 years of strategic clarity facilitation with high growth companies, here are five key components of an effective Strategic Vision statement to consider.
Four Criteria of an Effective Strategic Vision Statement
Once you have crafted a draft Strategic Vision Statement with your key stakeholders, your next step is to evaluate the statement itself using the following four criteria of an effective vision statement:
The Bottom Line
To lead people into a bigger and better future, provide an inspiring, motivating, challenging, memorable, and unique picture of where the business is headed. The best leaders engage their employees in the process of creating a shared vision of success. Is your vision believable, achievable, and relevant enough to engage your organization?
To learn more about creating a clear and compelling strategy to get to the next level, download How Top Leaders Stress Test Their Strategic Priorities
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