A strategic vision is a road
map showing the route a company
intends to take in developing
and strengthening its
business. It paints a picture of
a company's destination and
provides a rationale for going
there.
A strategic vision portrays a company's
future business scope
("where we are going")
whereas a company's mission
typically describes its present
business scope and purpose
("who we are, what we do, and
why we are here").
A company's values are the
beliefs, business principles, and
practices that guide the conduct
of its business, the pursuit of its
strategic vision, and the behavior
of company personnel.
An effectively communicated
vision is management's most
valuable tool for enlisting the
commitment of company personnel
to actions that will make
the vision a reality.
Executive ability to paint a convincing
and inspiring picture of
a company's journey and destination
is an important element
of effective strategic leadership.
Objectives are an organization's
performance targets—the
results and outcomes it wants
to achieve. They function as
yardsticks for tracking an organization's
performance and
progress.
A company exhibits strategic
intent when it relentlessly
pursues an ambitious strategic
objective and concentrates its
full resources and competitive
actions on achieving that
objective.
Every company manager has a
strategy-making, strategy-executing
role, not just
high-level
managers.
A company's strategy is at full
power only when its many
pieces are united.
A company's strategic plan
lays out its future direction, performance
targets, and strategy.
A company's vision, objectives,
strategy, and approach to strategy
execution are never final;
managing strategy is an ongoing
process, not an every now
and then task.
