{{Short description|Future position of an organization}}{{Original Research|date=April 2021}} {{Notability|date=April 2021}} [[File:LUMO Community Wildlife Sanctuary vision and mission statement at the main gate in Kenya.jpg|thumb|The vision and mission statements of the LUMO Community Wildlife Sanctuary]] A '''vision statement''' is a high-level,{{sfn|Project Management Institute|2021|loc=§4.6.1 Strategy Artifacts}} inspirational{{sfn|Project Management Institute|2021|loc=§4.6.1 Strategy Artifacts}} statement of an idealistic emotional future of a company or group. Vision describes the basic human emotion that a founder intends to be experienced by the people the organization interacts with.<ref>{{Cite web |title=Chapter 8. Developing a Strategic Plan {{!}} Section 2. Proclaiming Your Dream: Developing Vision and Mission Statements {{!}} Main Section {{!}} Community Tool Box |url=https://ctb.ku.edu/en/table-of-contents/structure/strategic-planning/vision-mission-statements/main |access-date=2024-06-25 |website=ctb.ku.edu |archive-date=2024-06-25 |archive-url=https://web.archive.org/web/20240625115853/https://ctb.ku.edu/en/table-of-contents/structure/strategic-planning/vision-mission-statements/main |url-status=live }}</ref>
Vision statements may fill the following functions for a company:<ref name=Lipton>{{cite journal|last=Lipton|first=Mark|title=Demystifying the Development of an Organizational Vision|journal=Sloan Management Review|date=Summer 1996|volume=37|issue=4|page=83|url=https://sloanreview.mit.edu/article/demystifying-the-development-of-an-organizational-vision/|access-date=2019-11-25|format=PDF download|archive-date=2023-02-15|archive-url=https://web.archive.org/web/20230215170627/https://sloanreview.mit.edu/article/demystifying-the-development-of-an-organizational-vision/|url-status=live}}</ref> * Serve as foundations for a broader strategic plan. * Motivate existing employees and attract potential employees by clearly categorizing the company's goals and attracting like-minded individuals. * Focus company efforts and facilitate the creation of core competencies by directing the company to only focus on strategic opportunities that advance the company's vision. * Help companies differentiate from competitors.{{sfn|Project Management Institute|2021|loc=Glossary §3 Definitions}}
== Characteristics == A consensus does not exist on the characteristics of a "good" or "bad" vision statement. Commonly cited traits include:<ref name="Kantrabutra">{{cite journal |last1=Kantabutra |first1=Sooksan |last2=Avery |first2=Gayle |date=2010 |title=The power of vision: statements that resonate |url=http://www.collegeofmanagement.mahidol.ac.th/research/images/VisionstatementsJBS.pdf |journal=Journal of Business Strategy |volume=31 |issue=1 |pages=37–45 |doi=10.1108/02756661011012769 |archive-date=2016-03-04 |access-date=2015-08-16 |archive-url=https://web.archive.org/web/20160304032025/http://www.collegeofmanagement.mahidol.ac.th/research/images/VisionstatementsJBS.pdf |url-status=live }}</ref> * concise:{{sfn|Project Management Institute|2021|loc=§4.6.1 Strategy Artifacts}} able to be easily remembered and repeated * clear: defines a prime goal{{sfn|Project Management Institute|2021|loc=Glossary §3 Definitions}} * time horizon: defines a time horizon * future-oriented: describes where the company is going rather than the current state * stable: offers a long-term perspective and is unlikely to be impacted by market or technology changes * challenging: not something that can be easily met and discarded * abstract: general enough to encompass all of the organization's interests and strategic direction * inspiring:{{sfn|Project Management Institute|2021|loc=§4.6.1 Strategy Artifacts}} motivates employees and is something that employees view as desirable
== See also == * Strategic planning * Mission statement * Strategy Markup Language
==Citations== {{Reflist | 30em}}
==References== *{{cite book|last=Project Management Institute|title=A guide to the project management body of knowledge (PMBOK guide)|date=2021|others=Project Management Institute|isbn=978-1-62825-664-2 |edition=7th|location=Newtown Square, PA}}
Category:Business terms Category:Statements Category:Strategic management