QS Study

Strategic visions are the ideas for the direction and activities of business development. Generally included in a document or statement so all company managers can share the same vision for the company and make decisions according to the shared principals and company mission.

Three elements of strategic vision: Managers have three different tasks in forming a strategic vision. These are as follows:

(1) The mission statement: This is a starting point for forming a strategic vision. In this, stage a mission statement is furnished that defines what business the company is presently in and expresses the essence of “who we are, what we do, and where we are now”.

(2) From mission statement to strategic vision: In this stage, the strategic manager translates the mission statement into the strategic vision. He uses the mission statement as a basis for deciding on a long-term course. He also makes choices about “where we are going”. Finally, he charts a strategic path for the company to follow.

(3) Communicating the strategic vision: Forming a strategic-vision is not sufficient enough for a company’s success. It must be clearly communicated down to the line managers and employees. It must be communicated in clear and exciting terms so that it produces organization-wide commitment.

So, these are the various elements or tasks that are involved in forming a strategic vision.