What Makes for a Good Vision Statement?

17Nov07
  • Does your vision statement declare what you are going to do better than your competitors? Does it identify what makes you different and how you will beat the competition?
  • Does it identify your target market?
  • Does it capitalize on your strengths and minimize the impact of your weaknesses?
  • Would your vision statement fit any of your competitors or is it truly distinctive to you? Of all competitors in your target market, are you the best positioned to achieve that vision (in terms of market position, strengths and weaknesses, and capabilities)?

While this discussion focuses on the core elements of a good vision statement, there are many more factors which should be taken into consideration, including:

  • Is your vision statement broad enough to encompass all that you want to do without allowing forays into areas in which you have no distinctive competence?
  • Is your vision something you wish will happen; or is it something you truly believe your company can make happen?
  • Is your vision stated in such a way that employees as well as others can assess progress toward your objective?

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