Creating the Inspiration -- Part 1

Are vision statements really necessary? Does anyone really take them seriously? If the majority of vision statements are any indication, the answer to both questions is no. But are these companies missing something?

What Makes for a Good Vision Statement?

While there are many dimensions, at its core your vision statement should clearly delineate your direction or focus, as distinct from the direction or focus of your key competitors. Consider these questions:

• 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)?

Apple iphone's Vision Statement will look something like this:

We will offer the preeminent multi-function communications and entertainment handheld device for high-end users by providing the most intuitive user interface to access the most desired functional capabilities, while applying the latest technology and packaging options in the design of our product.

Additional Dimensions

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?