Answer:
A vision statement describes what a company desires to achieve in the long-run, generally in a time frame of five to ten years, or sometimes even longer. It depicts a vision of what the company will look like in the future and sets a defined direction for the planning and execution of corporate-level strategies.
Explanation:
While companies should not be too ambitious in defining their long-term goals, it is critical to set a bigger and further target in a vision statement that communicates a company’s aspirations and motivates the audience. Below are the main elements of an effective vision statement:
-Forward-looking
-Motivating and inspirational
-Reflective of a company’s culture and core values
-Aimed at bringing benefits and improvements to the organization in the future
-Defines a company’s reason for existence and where it is heading
