You did all your research, you gathered the necessary resources you rented or constructed a building and filled it with the tool your employees will need to produce your product, the doors are open and customers are coming in to make purchases. Now in order to stay competitive in your chosen industry you have to answer some difficult questions such as; where do you go from here? How are you going to grow your business?
What product improvements do you want to make? How do you communicate these goals to your employees and customers to keep them interested in your brand? In Strategic Management for Organizations, Abraham states, “A vision statement is a concise expression of where the organization would like to see itself in the next 5 to 10 years” (p. 41). By developing a Vision statement the leadership of a company informs its stakeholders of where the company is going and what its goals for the future are.
Vision statements and strategy go hand in hand. “A good vision statement provides the inspiration for the daily operations of a business and molds its strategic decisions” (Hom, 2013) when developing a vision statement leaders must consider factors such as: is the vision in alignment with the current strategy, is the goal achievable, and do we have the resources available to achieve those goals.
The owner of Johnny Rebs, a small southern style restaurant, may decide that within the next 5 years he would like to see his business become the number one restaurant in town, He wants to achieve Better Business Bureau accreditation, and he wishes to be named a five star restaurant by Forbes Travel Guide. This business owner’s vision statement may look like this; Johnny Reb’s will become the best place to eat in Barstow by serving great food in a friendly atmosphere that receives a five star rating from Forbes Travel guide.
We will strive to provide excellent service to our customers and earn their trust while achieving Better Business Bureau accreditation. When an organization sets achievable goals that are in alignment with the strategic plan and then provides its employees with the resources and motivation to achieve those goals they can stay competitive in the marketplace.
Vision statements are developed to inform stakeholders of the organizations goals in a clear and concise manner, they inspire employees to achieve those goals by painting a picture of what the company can achieve. REFERENCES Abraham, S. (2012) Strategic Management for Organizations. My Strategic Plan (n. d. ) Mission Statements Retrieved from: http://mystrategicplan. com/resources/mission-statements/#Defining Your Mission