A vision statement is a picture or guiding image of your planned enterprise. The vision should describe what you ultimately envision your business or organization to be. A vision statement is focused five to ten years in the future.
Most vision statements include some aspects of three important elements: a core ideology, an envisioned future, and recognition of service to stakeholders.
The core ideology of the vision statement contains a statement about a group's values and “reason for being.”
The envisioned future is a statement that describes what the venture will be like if it achieves its most important goals.
The vision statement is the recognition of how the business serves its stakeholders, including owners/creditors, employees, and customers, as well as the community and society.
It is important that a vision statement be able to stand the test of time and provide guidance to decision makers as they determine the direction of the venture in the future.
