Strategic Management:

Corporate Vision

Creating a Company Vision

Tips and Examples

Importance of an Inspiring Vision

According to a Japanese proverb, "Vision without action is a daydream. Action without vision is a nightmare."

Corporate vision is a soul of your corporate strategy and a guiding star for your people. It inspires people, provides purpose, direction, and motivation.

The purpose of articulating a coherent vision of a desirable future in which your organization could thrive is to focus your organization and your partners on those things you could now to bring that future state about. An inspiring vision is a key element of an inspiring corporate culture.

Creating a Company Vision

Corporate vision may contain commitment to:

• Creating an extraordinary customer value

• Developing a great new product or service

• Serving customers through the defined service portfolio

• Ensuring quality and responsiveness of customer services

• Providing an enjoyable work environment for employees

• Ensuring financial strength and sustainable growth of the company for the benefit of its stakeholders

 Case in Point  General Electric

At General Electric (GE) the vision is 'We bring good things to life'.

In one of his first speeches as CEO, Jack Welch explained that he was not going to lay out an "all-inclusive" grand strategy or step-by-step agenda for the company. Instead, he was going to articulate a vision and a few clear goals for the company. He has always felt that best leaders are visionaries. They do not get caught up in the minutiae or obsess over every detail, but instead inspire others to execute on that vision.¹

Inspirational Leader: 10 Roles

To Welch, there are several reasons why it is better to lay out a general vision and not an exact blueprint.

1. It is the leader's responsibility to come up with the vision. Once the vision was communicated, it is up to the team to turn this vision into a reality.

2. A leader who spends too much time on the details is likely overmanaging. It is much better to give a general direction and empower the team to figure out the exact route.

25 Lessons from Jack Welch

 Case in Point  Ford Motor Company

The Ford Motor Company vision is 'to become the world's leading consumer company for automotive products and services'.

 Case in Point  Ten3 Business e-Coach

The Vision of Ten3 Business e-Coach, is "To inspire innovation and help people and companies create a more inspiring world."

 Case in Point  Silicon Valley Companies

Silicon Valley leaders keep stretch in their vision and communicate purpose and direction consistently and within multiple contexts. They keep linking the events of today to their vision, underscoring the relationship between the two keep people motivated and focused.

Tips for Making the Vision a Reality

 Case in Point  Microsoft

Microsoft's vision is to enable people and businesses throughout the world to realize their full potential.

 Case in Point  3M

The 3M vision: "Achieving Breakthrough Performance for our Customers, Employees, and Shareholders."