A strategic vision constitutes management's view and conclusions about the company's long-term direction and what product-market-customer mix seems optimal.
While being more concrete, a strategic vision statement complements the mission statement. It defines a feasible future condition for an organization; while specific time frames can vary, they often fall between three and ten years. You and your staff should be able to see where the organization is going with the help of this statement.
The procedure aids managers in determining the long-term direction of an organization, setting precise performance goals, creating plans to reach these goals, and carrying them out. However, it differs from business planning, which is more narrowly focused on a certain task, chance, or area of the company.
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