Vision Contribution to the organization’s success
The current business environment is characterized by unwavering, phenomenal, complex, and unpredictable changes. Despite most organizations’ considerable investment into change efforts, most initiatives to meet strategic goals and gain a competitive edge fail (Roblek & Meško, 2018). The corporate vision is one of the vital factors of strategic planning that has been debated as a significant concept required for business survival and growth. The corporate vision is conceptualized as the essence of work, an all-encompassing that involves organizational values, guiding philosophies that are engaging and inspiring, and idealizes future goals (Hieu & Vu, 2021). Vision creates direction in an organization and assists in increasing success.
Vision creates the beginning of an organization and the overall performance outcome. A company is formed by vision definition and other efforts to develop and enhance its business. The vision portrays an organization’s future and offers a rationale for doing so. Vision concept enlightens the firm’s value, guiding philosophy, and tangible image. Also, vision offers the organization a clear sense of direction and gives individuals in the company a sense of empowerment. Corporate vision also portrays the future business scope of capabilities, products, services, customers, and business design (Akter, 2021). While there are different interpretations of corporate vision, they must all be defined by the desire to achieve a desirable future and significant in formulating business strategies and strategic plans. Recent studies indicate that a vision with brevity, clarity, stability, abstractness, and inspiration is strongly correlated with organizational performance and customer satisfaction (Roblek & Meško,2018). While vision is a non-profit-making incentive, it is a necessary motivator toward profits making. Both profits and vision motivate employees effectively. Vision leads to success through motivation, future thinking, long–term thinking, direction provision, flexibility, and influence on performance.
Nonetheless, if a compelling vision is not articulated shared, the company risks its high performance. Research indicates that the lack of clear concept and implementation tools is a significant factor in failing an organization’s vision. A quantifiable vision creates a clear focus for strategic management (Hieu & Vu, 2021). A shared vision among the organizational stakeholders positively affects overall organizational performance. A communicated vision massively benefits the company. A communicated vision help determine and inform performance standards, guide the thinking and action of employees, attract appropriate talent, offer context, and minimize conflict during organizational restructures. Furthermore, a communicated vision offers a stable framework that outlasts internal changes, inspires people, facilitates collaboration with customers, suppliers, and partners, and assists public relations. Leaders can understand their leadership role and convey how their contribution helps manifest the vision by creating a cohesive, unified workforce (Dermol & Širca, 2018). However, many companies’ visions are vague, broad, uninspiring, not distinctive, and reliant on many superlatives leading to miscommunication on all levels of an organization.
Several companies’ visions have played an essential part in their success. For instance, Apple Computer vision indicates that “we believe that we are on earth to make great products and that’s not changing, Tesla, “to accelerate the world’s transmission to sustainable energy,” and Nike “bring inspiration and innovation to every athlete.” All the three visions of the successful companies are clear, abstract, challenging, set desirable objectives, and are future focuses. On the other hand, some of the failure vision may include “maximize our customer’s ability to get their work done” and “undisputed marketplace leadership. These visions use generic terms, confuse vision with goals, do not evoke emotion, and are somewhat speculative. The vision statement is the core of the business, and a poor vision statement and communication causes confusion and dysfunctional organization.
References
Hieu, V. M., & Vu, N. M. (2021). Linking Mission Statements Components to Management Effectiveness. Webology, 18(Special issue on Management and Social Media), 39-48.
Akter, S. (2021). Companies’ vision, mission, and core values focus on human resource management. International Journal of Financial, Accounting, and Management, 2(4), 343-355.
Roblek, V., & Meško, M. (2018). The importance of vision and mission for organizational development and growth.
Dermol, V., & Širca, N. T. (2018). Communication, company mission, organizational values, and company performance. Procedia-Social and Behavioral Sciences, 238, 542-551.