We are independent & ad-supported. We may earn a commission for purchases made through our links.

Advertiser Disclosure

Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.

How We Make Money

We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently from our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.

What is Strategic Vision?

Malcolm Tatum
By
Updated May 16, 2024
Our promise to you
SmartCapitalMind is dedicated to creating trustworthy, high-quality content that always prioritizes transparency, integrity, and inclusivity above all else. Our ensure that our content creation and review process includes rigorous fact-checking, evidence-based, and continual updates to ensure accuracy and reliability.

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

Editorial Standards

At SmartCapitalMind, we are committed to creating content that you can trust. Our editorial process is designed to ensure that every piece of content we publish is accurate, reliable, and informative.

Our team of experienced writers and editors follows a strict set of guidelines to ensure the highest quality content. We conduct thorough research, fact-check all information, and rely on credible sources to back up our claims. Our content is reviewed by subject matter experts to ensure accuracy and clarity.

We believe in transparency and maintain editorial independence from our advertisers. Our team does not receive direct compensation from advertisers, allowing us to create unbiased content that prioritizes your interests.

A strategic vision is a broad term used to describe one of the essential elements of an overall strategic planning endeavor. Essentially, a vision is the identification of the ultimate aim or purpose for a business. Within this context, the strategic vision helps to set the parameters for the development of planning specific steps to go about making that vision come true, since it establishes the general direction that the business will pursue. A workable vision clearly looks beyond where the company is today and determines where the owners want the company to be at some point in the future.

In order to properly craft a strategic vision, several key elements must be considered in order for that vision to be truly viable. One of those elements is that the vision must be realistic. This means that vision must be somewhat specific rather than a vague idea about the future. For example, setting a vision to become the largest pencil manufacturer in the world may be a bit broad, whereas a vision to capture five percent of the pencil market within a given country within the next ten years does have focus and has the potential to be workable.

Along with viability, a strategic vision has to be relevant to those who will be involved in reaching that ultimate goal. This means employees as well as owners must recognize the potential of the vision and be committed to helping it come to pass. If everyone in the company does not believe in and support the vision, the chances of reaching the goal within the time frame identified are reduced significantly.

A true strategic vision is attractive, in that all parties involved can identify some benefit from pursuing the vision. This means that employees can foresee improved working conditions resulting from going after the vision, as well as additional financial benefits from working hard to achieve the goal. The degree of attractiveness must be sufficient to sustain that commitment even when unforeseen difficulties threaten to slow progress toward the goal, inspiring everyone concerned to overcome the adversity and keep moving forward.

One final characteristic of a strategic vision is that there is room for adjusting strategies when and as needed without actually changing the ultimate goal itself. This built-in flexibility makes it possible to alter policies and procedures when necessary to keep the momentum going, introduce new advertising and marketing campaigns, make improvements to the product line, and any other strategy that is likely to move the company forward toward achieving the vision.

In order to succeed, a business must have at least one visionary that can formulate a workable and attractive strategic vision. Employees with the skill sets needed to bring the fulfillment of that vision to life are just as important to the well-being of the company. A company that is composed mainly of visionaries, or one that does not have at least one visionary among the owners and managers, is much more likely to remain stagnant at best, or to fail completely at worst.

SmartCapitalMind is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
Malcolm Tatum
By Malcolm Tatum , Writer
Malcolm Tatum, a former teleconferencing industry professional, followed his passion for trivia, research, and writing to become a full-time freelance writer. He has contributed articles to a variety of print and online publications, including SmartCapitalMind, and his work has also been featured in poetry collections, devotional anthologies, and newspapers. When not writing, Malcolm enjoys collecting vinyl records, following minor league baseball, and cycling.

Discussion Comments

By anon250550 — On Feb 26, 2012

Are these real key elements of strategic vision?

Malcolm Tatum

Malcolm Tatum

Writer

Malcolm Tatum, a former teleconferencing industry professional, followed his passion for trivia, research, and writing...
Learn more
SmartCapitalMind, in your inbox

Our latest articles, guides, and more, delivered daily.

SmartCapitalMind, in your inbox

Our latest articles, guides, and more, delivered daily.