Seven definitive proofs that vision fathers business strategy

In board rooms, strategy is the most articulated words. It is excusable, because ultimate responsibility of drawing business strategy rests with the board of directors. But what is startling is the fact nobody remembers that strategy did not arise on its own but chosen as a translating mechanism of business vision into reality. Here are seven definitive proofs that confirm strategy is borne out of vision:

1.        In vision a business speaks of business policy and its beliefs and values. You write a vision statement indicating the philosophy in which you work, the concepts that guide and the value judgement you make in progression towards your ideals

2.        Vision portrays the standard that is set for achieving over a period of time. In other words, business makes a choice that has long haul. Hence, the overtone of vision is aspiration as well as inspiration.

3.        A business vision statement answers the questions “What to become or Where to go”. It seeks an end-state that business wishes to achieve at the end of its business cycle. In order to do that, a vision statement provides direction and guidance in brief manner but with broad intent

4.        “Brevity is better part of valour” goes the adage. Vision does just that. Savour the vision of Department of Commerce of USA:  “By assisting the private sector, our vision is that the United States continues to play a lead role in the world economy”. Do I need to say any more?

5.        Business vision is chiselled as policies of a business that govern conduct of transactions in every circumstance. Such policies are of general nature and do not give facts and figures but ideas and concepts. In fact, vision is borne out of conceptual thinking. This type of thinking trains you to spot the missing link or information that is needed to solve a puzzle. In a vision statement you are looking for an over-awning concept or all-prevailing idea in global manner

6.        Vision relates to goals of a business. The goals are set as end-state of business strategy. That is to keep the big picture intact and behind your table so that you often turn back and watch your business vision and then watch your steps in executing business strategy

7.        Board of directors is entrusted with the formulation of vision and accompanying business policy, business strategy and corporate goals. Being lofty in nature and broad in outlook and perhaps too distant to view armchair analysts often miss the tree as forest when they react to short term lull in the progress of a company and dub it as vision failure.

 

Cheers!

 

Muthu Ashraff Rajulu

Business Strategist

Mobile: + 94 777 265677

E-mail:   cosmicgems@gmail.com

Blog:   Business Strategist