How to create a business mission and vision
How can you best approach this challenge?
1. Create a safe environment: It’s essential the CEO involves direct reports from employees in the process of creating the vision, forming a secure atmosphere that enables each individual to share ideas openly.
2. Develop the collective dream: At this initial stage of the process it’s important not to pass judgment on the suggestions, but to let them come freely. A business vision board where you can jot down all the ideas is a simple way of bringing them all together. To enable this spontaneous flow of ideas people should try not to overthink, otherwise some of the most innovative ideas won’t be expressed.
3. Undertake strategic analysis: The team should use relevant strategic analysis tools to assess and analyse the ideas that were expressed in developing the collective dream. The strategic tools can include:
SWOT (strengths, weaknesses, opportunities and threats) analysis
industry competitive forces (Porter’s Five Forces)
core competence agenda
value chain analysis
Additionally, some innovative ideas may be discussed with selected customers or clients where appropriate.
4. Create the business vision: The collective dream is then transformed, using strategic analysis, to become an inspiring and challenging, yet achievable, vision for the future of your company.
The next steps
Once you’ve finalised your vision you need to develop a strategy to make it a reality. There are two different approaches that can be applied to the vision – a learning strategy or strategic plan. The level of uncertainty associated with each component of the vision will determine which approach is appropriate.