At the outset of the strategy execution process, senior managers must wrestle with the issue of what directional path the company should take. Top management’s views about the company’s direction and future product-customer-market-technology focus constitute a strategic vision for the company. A clearly articulated strategic vision communicates management’s aspirations to stakeholders about “where we are going”
A strategic vision describes “where we are going” - the course and direction management has charted and the company’s future.
Well-conceived visions are distinctive and specific to a particular organization. They avoid generic, feel-good statements such as “We will become a global leader and the first choice of customers in every market we choose to serve” - which could apply to any of hundreds of organizations.
For a strategic vision to function as a valuable managerial tool, it must provide understanding of what management wants its business to look like and provide managers with a reference point in making strategic decisions. It must say something definitive about how the company’s leaders intend to position the company beyond where it is today.
An effectively communicated vision is a valuable management tool for enlisting the commitment of company personnel to engage in actions that move the company in the intended direction.
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