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A vision statement is a high-level,cite-ref-footnoteproject-management-institute2021-4-6-1-strategy-artifacts-1-0[1] inspirationalcite-ref-footnoteproject-management-institute2021-4-6-1-strategy-artifacts-1-1[1] 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.cite-ref-2[2]

Vision statements may fill the following functions for a company:cite-ref-lipton-3-0[3]

• 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.cite-ref-footnoteproject-management-institute2021glossary-3-definitions-4-0[4]

• Characteristics

• See also

• Citations

• References

A consensus does not exist on the characteristics of a "good" or "bad" vision statement. Commonly cited traits include:cite-ref-kantrabutra-5-0[5]

• concise:cite-ref-footnoteproject-management-institute2021-4-6-1-strategy-artifacts-1-2[1] able to be easily remembered and repeated

• clear: defines a prime goalcite-ref-footnoteproject-management-institute2021glossary-3-definitions-4-1[4]

• 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:cite-ref-footnoteproject-management-institute2021-4-6-1-strategy-artifacts-1-3[1] motivates employees and is something that employees view as desirable

• Strategic planning

• Mission statement

• Strategy Markup Language

cite-note-footnoteproject-management-institute2021-4-6-1-strategy-artifacts-11. ↑ Project Management Institute 2021, §4.6.1 Strategy Artifacts.

cite-note-22. ↑ "Chapter 8. Developing a Strategic Plan | Section 2. Proclaiming Your Dream: Developing Vision and Mission Statements | Main Section | Community Tool Box". ctb.ku.edu. Retrieved 2024-06-25.

cite-note-lipton-33. ↑ citereflipton1996Lipton, Mark (Summer 1996). "Demystifying the Development of an Organizational Vision" (PDF download). Sloan Management Review. 37 (4): 83. Retrieved 2019-11-25.

cite-note-footnoteproject-management-institute2021glossary-3-definitions-44. ↑ Project Management Institute 2021, Glossary §3 Definitions.

cite-note-kantrabutra-55. ↑ citerefkantabutraavery2010Kantabutra, Sooksan; Avery, Gayle (2010). "The power of vision: statements that resonate" (PDF). Journal of Business Strategy. 31 (1): 37–45. doi:10.1108/02756661011012769.

• citerefproject-management-institute2021Project Management Institute (2021). A guide to the project management body of knowledge (PMBOK guide). Project Management Institute (7th ed.). Newtown Square, PA. ISBN 978-1-62825-664-2.{{cite book}}: CS1 maint: location missing publisher (link)