Vision and Strategy – What and Why?

In the contemporary business environment, organisations seek to become and remain competitive. The very survival of an organisation depends on the way in which it positions itself in an ever-changing world. Business organisations have, as an overriding goal, the creation of real income for the owners, employees and other stakeholders. Success and growth depend on the direction taken by the organisation and for this purpose, leaders need to guide the organisation towards the future.

What Is A Vision?

Every organisation has a destiny, a deep purpose that expresses the reason for its existence. The deeper purpose of an organisation is often found in its founder’s aspirations and in the reasons why its industry came into being.

A vision is thus an image or a picture of the desired future you seek to create. A vision “statement” shows where we want to go and what we will be like when we get there. The word comes from the Latin vidère that means “to see”. A vision gives shape and direction to the organisation’s future. It also assists people to set goals to take the organisation closer to that future.

What Is Purpose?

Purpose, or mission, is the organisation’s reason for being; it represents the fundamental reason for the organisation’s existence. A mission statement answers the question: “What is this organisation’s purpose?” for employees, customers and other stakeholders.

Goals

Every shared vision effort needs not just a broad vision, but specific, achievable goals. Goals represent what people commit themselves to do and goals often address barriers and obstacles in the way of achieving the vision of the organisation.

What Is Strategy?

Strategy is a broad plan of action for pursuing and achieving the organisation’s objectives or goals and satisfying its purpose.

In order to realise the vision of the organisation, the purpose must be clear, goals need to be set, and a strategy needs to be formulated and implemented effectively.