BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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focus on the company’s competitors
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only be from an employee perspective
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describe a desired future state
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identify a desired profit margin
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Detailed explanation-1: -A Vision Statement defines your desired future state and provides direction for where you are going as an organization. Vision statements are 5-10 years in nature and clearly describe what success looks like and what you’re seeking to achieve.
Detailed explanation-2: -A vision statement outlines the company’s long-term goals and aspirations for the future in terms of its long-term growth and impact on the world. Your mission defines what your organization does and what you stand for, while your vision statement speaks to your goals and ideals for the future.
Detailed explanation-3: -A vision statement sets an organization’s sights on the future. However, once that future is reached, the vision needs to continue moving forward. Your vision statement is a living document, not a set of static sentences. It plays an important part in your overall strategic plan for a certain time frame.
Detailed explanation-4: -Use Present Tense While a vision statement visualizes the future, it should be acted on and written in present tense. This helps keep it direct and succinct.
Detailed explanation-5: -A Vision Statement is a description of the desired future state of the company. An effective vision inspires the team, showing them how success will look and feel.