Wednesday, April 17, 2024

Building Your Company’s Vision

Characteristic : Its Simple

BUS470 Building your Company’s Vision Mini-Lecture

As Albert Einstein once said, everything should be made as simple as possible but not simpler. Although it can be difficult to fit all the necessary details of a vision statement in one to two sentences, the best vision statements keep it simple because they are easier for everyone to understand. If more people know where youre going, theyll be more likely to follow.

Be Open To Feedback And Suggestions For Improvement

As you work toward your visionary goals, remain open and receptive to any feedback or suggestions for improvement. Your team will feel more engaged when they know their voice matters, and theyll appreciate the opportunity to contribute in a meaningful way.

If employees can give you feedback about how things are going, their input will flag any necessary changes as you work, allowing you to stay more focused on your role.

A lack of feedback can lead to some pretty big mistakes. Without feedback, there is no way for anyone to know if they are moving in the right direction or contributing to the company goals.

Tesla: To Accelerate The World’s Transition To Sustainable Energy

A car company’s punny use of the word “accelerate” is just one reason this mission statement sticks out. However, Tesla makes this list because of how its mission statement describes the industry.

It may be a car company, but Tesla’s primary interest isn’t just automobiles it’s promoting sustainable energy. And, sustainable energy still has a “long road” ahead of it hence the world’s “transition” into this market.

Ultimately, a mission statement that can admit to the industry’s immaturity is exactly what gets customers to root for it and Tesla does that nicely.

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Characteristic : Its Broad Yet Challenging

A good vision statement is broad enough to allow for long-term growth while being specific enough so that an organization can focus on a clear path. If the vision is too specific, then once it is achieved the purpose of the vision is gone. The vision should challenge an organization and its employees so that they continuously improve toward an aspirational outcome. If a vision is too ambiguous, then it will be difficult to determine exactly which direction the company is headed.

Evaluate Your Companys Published Materials

Creating and continually revisiting your Company Vision is like ...

Your company likely already has published goals and established values in its employee handbook, marketing materials and other publications. Use this information to guide your work, suggested Alison Brehme, an author and content, marketing and media strategist.

A companys mission, purpose, goals and values are all involved in the creation of a company vision, Brehme said. Weave these concepts and beliefs into your vision statement.

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Create A Plan To Achieve Your Goals

Once youve set goals for where you want your business to be in the future, its time to get your employees on board so that everyone plays an active role in reaching your goals. Brainstorm a plan for how you will get there with encouraging milestones along the way.

When creating a roadmap for your company vision, it should include both short-term goals and long-term visions for the future of your business. Its not enough to simply jot down your desired outcomesconsider how you will get there.

People need structure and direction if they are going to feel motivated and fulfilled in their work. The right goals can help you achieve success, so make sure to set your company vision on the right path for continued growth.

Communicate The Vision With Employees

Once youve set your company vision and established a plan to execute it, communicate these details to your employees so that everyone knows the direction you are headed in. Doing this will help keep everyone motivated and focused on reaching their personal goals and achieving success together.

However, its important to consider how you plan on communicating this vision throughout your organization, as some people might interpret your vision differently from others and yourself.

For instance, some employees might interpret your companys vision as an aim to increase revenue. In contrast, others may interpret it as increasing customer satisfaction. Therefore, its crucial to communicate your vision effectively so that everyone understands what you are trying to accomplish.

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Nordstrom: To Give Customers The Most Compelling Shopping Experience Possible

When it comes to customer commitment, not many companies are as hyper-focused as Nordstrom is. Although clothing selection, quality, and value all have a place in the company’s mission statement, its crystal clear that its all about the customer: “Nordstrom works relentlessly to give customers the most compelling shopping experience possible.”

If you’ve ever shopped at a Nordstrom, you’ll know the brand will uphold the high standard for customer service mentioned in its mission statement, as associates are always roaming the sales floors, asking customers whether they’ve been helped, and doing everything they can to make the shopping experience a memorable one.

How To Make Your Vision A Part Of Your Companys Dna

Align Your Company Vision – 8 Questions for Your Leadership Team

You can make your vision a part of your companys DNA by ensuring that it is specific and authentic to your organization. If a vision statement is too generic, employees will be able to tell that it isnt catered to their organization and they wont be motivated by it. You can avoid this by ensuring that your vision statement is authentic to your organization and unique from your competitors.

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Consider Values In Your Company Vision

Every company has values, whether implicit or explicit. Another challenge in writing a vision statement is defining these values. These can be simple one word phrases, such as innovation and communication. They can also be slightly longer, for example, access to education for all or adding a personal touch to healthcare. You may discover that what you want your companys values to be are not what they are in the current moment. This type of self discovery is important and factors into creating your vision. When you have defined the values by which you conduct business or hope to conduct business, lay them out side by side with your goals. Understand how these categories interact and what you can create from the sum of their parts. Those are two of the main ingredients that go into your company vision. The last relates to what you already accomplish every day.

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3. Building on a mission statement for a great company vision

Fastcompany.com offer their insight on how to write a great mission statement for your business.

What Is A Mission Statement

A mission statement is an action-oriented statement declaring the purpose an organization serves to its audience. It often includes a general description of the organization, its function, and its objectives.

As a company grows, its objectives and goals may be reached, and in turn, they’ll change. Therefore, mission statements should be revised as needed to reflect the business’s new culture as previous goals are met.

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The Symphore Custom Software Development Methodology

  • Highly structured and guided
  • Uses a modelling language rather than human language, which can be open to subjective interpretation
  • Captures complete and accurate specifications with minimal loss in translation
  • Provides an efficient process, minimizing client follow up and loss of time
  • Ensures a direct correlation between the clients vision and the software produced
  • Automatically identifies conflicting or contradictory requirements right up front
  • Provides a comprehensive view of the software design:
  • the overall structure

Keep It Short But Meaningful

Vision Statement Examples For Business

A vision statement should be concise no longer than a sentence or two. You want your entire organization to be able to repeat it quickly and, more importantly, understand it. However, a vision statement must be more than a catchy tagline.

can be smart and memorable, but this is for your team and culture, not for selling a specific product, Falkowski said.

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Whats The Difference Between A Vision Statement And A Mission Statement

Mission statements are based in the present and convey to stakeholders and community members why a business exists and where it currently stands. Vision statements are future-based, and they are meant to inspire and give direction to employees.

The vision is about your goals for the future and how you will get there, whereas the mission is about where you are now and why you exist, said Paige Arnof-Fenn, founder and CEO of Mavens & Moguls, a global strategic marketing consulting firm. The vision should motivate the team to make a difference and be part of something bigger than themselves.

Mission statements and vision statements are both crucial for building a brand. While a mission statement focuses on the purpose of the brand, the vision statement looks to the fulfillment of that purpose, said Jessica Honard, co-CEO of North Star Messaging + Strategy, a copywriting and messaging firm that serves entrepreneurs.

Although mission and vision statements should be core elements of your organization, a vision statement should serve as your companys guiding light.

A vision is aspiration a mission is actionable, said Jamie Falkowski, chief creative officer at marketing and communications company Day One Agency.

Creating the perfect vision statement may seem overwhelming, but it doesnt have to be. Follow these suggestions and best practices when crafting your vision statement.

Hold Workshops To Brainstorm Your Vision

Brandon Shockley, former vice president of market research at branding and marketing firm 160over90 and now head of investor research and insights at Vanguard, recommended hosting workshops with key stakeholders representing a cross-section of your organization. Then, he said, assemble teams and use collaboration tools to create alternate versions of the statement, and gather employee feedback about how each version resonates.

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Ikea: To Offer A Wide Range Of Well

The folks at IKEA dream big. The vision-based mission statement could have been one of beautiful, affordable furniture, but instead, it’s to make everyday life better for its customers. It’s a partnership: IKEA finds deals all over the world and buys in bulk, then we choose the furniture and pick it up at a self-service warehouse.

“Our business idea supports this vision … so as many people as possible will be able to afford them,” the brand states.

Using words like “as many people as possible” makes a huge company like IKEA much more accessible and appealing to customers.

Add Relatable Human ‘real World’ Aspects

How to Develop a Vision for Your Organization

OK, your vision statement by this point should be getting pretty close to finished. But one final trick you can apply to help make it even more memorable is to add a real-life aspect.

This will allow people to conjure up a solid mental image to associate with your vision statement.

Let’s look at an example – which of the following statements is likely to be more memorable:

a) To have every working person in the world using Microsoft product.

or…

b) A Microsoft-powered computer on every desk.

I would argue that is more memorable because as I read this, I’m actually visualizing a computer sitting on a wooden desk in a room.

There’s nothing wrong with but it’s highly conceptual and thus difficult to transform into a mental picture. Let’s look at another example:

“Ensure that every customer who leaves our store, does so smiling.”

Here, using the word ‘smiling’ as opposed to ‘happy’ is powerful, because it conjures a mental image of a person smiling.

It won’t always be possible to bring this level of tangibility to a vision statement – but if it is, I would strongly encourage doing so.

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Did Disney Achieve That Vision

Certainly, it has, since it is now one of the worlds leading producers and providers of entertainment and information. But achieving the vision does not mean that it now has to stop and rest easy, since competition in the industry that Disney belongs to is very tough. For Disney, it is a continuous battle to ensure that the vision they have achieved remains to be true.

The public and the business community are more inclined to take a company seriously if it has a clear and very good company vision. With the right mix and balance of objectivity, creativity, passion, and familiarity with the business, you will definitely have no trouble creating a good company vision.

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What Is The Purpose Of A Vision Statement

As stated above, a vision statement is a very important part of an organization because it aligns with its mission, core values, and culture. It also guides the strategic plan, because it sets future goals. Similar to a mission statement, a vision statement its a living document that is referred to as a lodestar to lead a company to its next innovation.

There are also different types of vision statements, as companies have unique core values. For example, a motivational vision statement will both motivate existing employees and also drive talent to the company. Theyll want to work at a place with a business vision that aligns with their personal values. A strong vision statement also works to help differentiate your company from others. All companies want to become profitable, but a company can create a unique vision statement that is appealing to its customers and employees.

Its very easy to get bogged down in the details of your mission statement and the day-to-day challenges of running an organization. Thats why you need a long-term vision statement to guide your efforts and help you plan long-term.

Now that weve learned what a company vision is, lets look at the main differences between a vision and a mission statement, and how they relate to each other.

Create A Longer Version For Leaderships Eyes Only

Company Vision

Dont fret if you feel that a short vision statement doesnt fully express the intricacies of your vision. You can create a longer version, but it should not be the one you broadcast to the world.

Lets be honest most business leaders, not to mention boards of directors, wont be able to sum up their vision in a pithy sentence or two. Thats OK, said Shannon DeJong, owner of brand agency House of Who. Have a full-length version of your vision for the leaderships eyes only. Think of the long version as your reference guide to why youre in business in the first place.

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Companies Can Quickly Fail If They Lack A Strategic Frame Or Mental Model That Lets Them Answer Important Questions

Do you shop at Kmart anymore? What about Kodak or Blockbuster? Is anyone using a Blackberry? Probably not. And theres a reason for that.

The shared problem all of these companies had, at least at the end of their business, was an inefficient, nebulous company vision. These companies struggled to pivot and stay relevant because they couldnt define the difference they really wanted to make in the market and the world or how they wanted to achieve it. Employees didnt have anything to unify behind, and customers didnt understand how the companies were supposed to improve their lives.

These business stories show that when your vision is fuzzy, youre like a car without a steering wheel. Can you move forward? Maybe. But you have no idea where youll end up.

Heres what it takes to create a successful company vision and what you should avoid along the way.

1. KEEP IT UNDER 20 WORDS.

Generally, people arent going to remember a paragraph. Theyre going to remember something short and sweet. A good rule of thumb is that your vision statement should fit on the back of a business card in big font.

Vision statements from LinkedIn and TED are great examples of this, especially the latters two-word vision: Spread ideas.

2. MAKE SURE EVERY WORD HAS A PURPOSE

3. USE EVERYDAY WORDS

4. MAKE IT MEMORABLE

DONT

1. MAKE THE VISION STATEMENT STANDARD

2. MAKE IT DISTANT

3. TRY TO DO EVERYTHING

4. MAKE IT HARD TO FIND

A GREAT VISION PROPELS YOU FORWARD

Jetblue: To Inspire Humanity Both In The Air And On The Ground

JetBlue’s committed to its founding mission through lovable marketing, charitable partnerships, and influential programs and we love the approachable language used to describe these endeavors. For example, the brand writes how it “set out in 2000 to bring humanity back to the skies.”

For those of us who want to learn more about any of its specific efforts, JetBlue’s provided details on the Soar With Reading program, its partnership with KaBOOM!, the JetBlue Foundation, environmental and social reporting, and so on. It breaks down all these initiatives really well with big headers, bullet points, pictures, and links to other web pages visitors can click to learn more. JetBlue also encourages visitors to volunteer or donate their TrueBlue points.

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