Vision Statement

Describes what a company desires to achieve in the future

Vision Statement - Definition and Example of Vision Statement (corporatefinanceinstitute.com)

What is a Vision Statement?

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.

 
 

Key Elements of a Good Vision Statement

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

Example

Let’s look at Microsoft Corp.’s Vision Statement. Microsoft Corp. is an

American multinational company that develops, manufactures, licenses, and
sells technology products, including computer software, electronics, and
personal computers. It is also one of the largest corporations in the world,
alongside companies such as Apple, Inc. and Amazon.com, Inc.

 Microsoft’s vision is:

Microsoft’s vision statement is forward-looking because delivering growth and

impact in every community would conceivably take a lifetime or many
lifetimes to achieve. It also brings the message of leading to changes and
improving the quality of living standards all around the world, which strongly
reflect Microsoft’s values of innovation, diversity and inclusion, corporate
social responsibility, and environment.

 
The Rise of a Purpose Statement

The mission statement, vision, and values are traditionally the three most
common descriptions of a business that explains why a company exists. In
recent years, another type of statement has also emerged in the business
world and is gaining more popularity. This type of statement is called the
Purpose Statement.

A Purpose Statement conveys a company’s reason for existence, just as the

mission statement and vision do, but it also shows the connection between
the brand identity and workplace culture of the company. It combines the
components of a mission statement, vision, and values into a single statement.

More Resources

To learn more about strategy, check out our Corporate & Business Strategy
course, which covers all important terminologies and theories on strategy and
demonstrates the whole strategic analysis process.

Additional relevant CFI resources include:

 Strategic Analysis
 Mission Statement
 SWOT Analysis
 All Strategy Resources

What is mission statement vs. vision statement?

Mission Statement vs. Vision Statement. A mission statement is intended to clarify the what,
who, and why of a company. On the other hand, a vision statement describes where the
company wants a community, or the world, to be as a result of the company's services. A
mission statement is the roadmap for the company's vision statement.

What is vision statement for a company?

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.
 Why is vision statement important?
It paints an overall picture of a pleasant, successful business that the company hopes to
become. Since the vision statement isn't just a vision of your future - it's also a vision you're
presenting to your customers about who you are - it's important that it do just that.
A mission statement is, in some ways, an action-oriented vision statement, declaring the
purpose an organization serves to its audience. It often includes a general description of the
organization, its function, and its objectives. As a company grows, its objectives and goals may
be reached, and in turn they'll change.

20 Inspiring Vision Statement

Examples (2020 Updated)
20 Inspiring Vision Statement Examples (2020 Updated) (lifehack.org)

There is normally a lengthy list of things you need to consider when starting a business,
and if you don’t manage them properly, your excitement can quickly turn into
overwhelm. What can support you to stay inspired and on the right track when starting
out? You guessed it: this is your vision statement.

TABLE OF CONTENTS
1. What Is a Vision Statement?
2. The Importance of a Vision Statement
3. How to Craft an Inspiring Vision Statement
4. The Bottom Line

What Is a Vision Statement?

A vision statement is like a photograph of your future business, which gives your
business shape and direction.

A vision statement provides the direction and describes what the founder wants the
organization to achieve in the future; it’s more about the “what” of a business. It is
different from a mission statement, which describes the purpose of an organization and
more about the “how” of a business.

If you were to take a photo of your future business now, what would it look like? What
do you want your business to be recognized for one day?

You need to have a crystal clear vision when you start out, otherwise you can get easily
lost in deciding the best way forward. When you are making strategic decisions for your
business and even daily operation decisions, your vision statement will give you the
inspiration and targeted direction you need.
The Importance of a Vision Statement
Without a vision statement, your business will lack motivation to keep going.

If you don’t aim for anything, you might not hit anything. The more specific and clear
you are, the better your chances are at seeing your vision turn into reality.

The importance of a vision statement cannot be overlooked; not only does it provide
long term direction and guidance, but it also gives you the inspiration and the necessary
energy to keep going when you feel lost.

Always keep your vision statement alive by revisiting it regularly and communicating
your vision with other members of the team, to inspire and motivate them as well.

How to Craft an Inspiring Vision Statement

1. Dream Big and Use Clear Language
An inspiring vision statement should inform a clear direction and priorities for the
organization, while challenging all the team members to grow together. Based on our
expert sources’ advice, we’ve got some great tips for you:

 Imagine how you want the business to be like in five to ten years.
 Infuse the business’ values in the statement.
 Make sure that the statement is implying a clear focus for the business.
 Write your vision statement in the present tense.
 Use clear and concise language.
 Ensure the statement is easily understood.

There are many different types of vision statements and there is no wrong or right way
to do it. The most important thing is to resonate with it. It will always inspire you and
give you a clear targeted direction.

2. Get Inspirations From the Successful Companies

Having researched on a number of successful companies’ vision statements, I’ve
shortlisted 20 good examples for the new startups:

Short vision statements made up of a few words only:

1. Disney

To make people happy.

2. Oxfam

A just world without poverty.

3. Ikea
To create a better every day life for the many people.

Quantitative statements are based on numbers, quantities:

4. Microsoft

Empower every person and every organization on the planet to achieve more.

5. Nike

Bring inspiration and innovation to every athlete* in the world. (*If you have a body,
you are an athlete.)

7 Vision Statement Examples To Spark Your Imagination

A vision statement presents an inspirational vision of a company to guide growth,

motivate employees, and connect with consumers. Aside from expressing your
company’s goals and aspirations, the vision statement also provides a strategic planning
framework to follow as a business. It instructs how you and employees should move
forward and ultimately tells you where you want to go as a business. A good vision
statement is valuable because it helps set your business’s direction by subtly influencing
the decision-making process.

Articulating a powerful vision statement is one of the hallmarks of a strong business

leader. You may be inspired to create one when you first start your business. Unlike
a mission statement, which presents a company’s driving purpose and is more short
term, the vision statement serves as an inspiration and a guide. To help you make an
inspiring and useful vision statement, we created a worksheet so you can craft your
statement.

17 Great Examples of Vision Statements

1. LinkedIn: “Create economic opportunity for
every member of the global workforce.”
LinkedIn’s vision correctly states that the modern workforce is global. In doing so, it
recognizes an essential truth for employers and employees alike. This statement is
particularly useful because it promotes the idea of leveling the playing field not just for
LinkedIn team members and users, but also for the entire global workforce.

Stated another way, LinkedIn’s vision statement focuses on allowing everyone to find
employment, grow, and advance. It also reminds us that the platform intends to help
people generate economic opportunities, which may involve finding a new job,
promoting your own business, or connecting with other industry experts.

2. IKEA: “Our vision is to create a better everyday

life for many people.”

(Source: Ikea)
As a home design brand, IKEA focuses on creating a high quality of life for its customers
—precisely what its customers think about when choosing to shop there. By aligning its
goals with consumers’ desires, IKEA is signaling that it understands the wants and needs
of its customers and that it’s ready to meet those needs.

The vision statement’s focus on the customer is also evident in using “many people”
instead of “all people.” In using this language, IKEA demonstrates that it doesn’t need
everyone to be loyal customers to succeed—but they are committed to helping those who
relate to and appreciate the IKEA lifestyle.
3. Zoom: “Video communications empowering
people to accomplish more.”

(Source: Zoom)
Zoom’s vision statement is effective because it focuses on its primary product—video
communications—and highlights that it can empower users. What’s more, the vision
statement speaks directly to Zoom’s typical customers—businesses—by assuring they’ll
accomplish more with the help of the platform.

This statement tells customers that the product is to increase productivity and invites
business owners to leverage the tool to help its bottom line.
4. Tesla: “To create the most compelling car
company of the 21st century by driving the world’s
transition to electric vehicles.”

(Source: Tesla)
Tesla’s statement is interesting because it doesn’t say what it wants to provide or what it
wants to accomplish. And, unlike many vision statements, it doesn’t say it wants to sell—
it wants to be compelling.

The goal is not to produce the most high-quality cars or sell the most vehicles. Instead,
Tesla wants to inspire people, embolden them, and drive and encourage them. More
specifically, the statement doesn’t say it wants to sell cars. It says it wants to drive the
transition to electric. Again: encourage, inspire, promote innovation.
5. Southwest Airlines: “To become the world’s
most loved, most efficient, and most profitable
airline.”

(Source: Southwest Airlines)
Southwest’s vision statement stands out because it focuses on what the company wants to
become. The brand is also putting its customers first with its goal of being the most loved
airline while maintaining the importance of making a profit for its shareholders. This puts
the focus on both the company’s journey and the customer’s journey.

What’s more, many elements in the vision statement are quantifiable. So when Southwest
says it wants to be the most efficient and most profitable airline—leadership can measure
these metrics and track how well the company aligns with its vision.
6. Etsy: “Building an Etsy Economy”

(Source: Etsy)
In this short vision statement, Etsy creates a new term to strive for, the “Etsy economy.”
This statement encompasses both creators and buyers. This vision statement is great
because it doesn’t just focus on creating products, but the interaction and relationship
between buyer and seller.

7. Habitat for Humanity: “A world where everyone

has a decent place to live.”

(Source: Habitat)
Here, Habitat for Humanity is thinking worldwide. While it has several divisions around
the world, its vision statement brings everyone together.

The second part of the statement “a decent place to live” is an excellent vision for the
workers and volunteers. Every home it constructs has the goal of delivering a great place
for someone or a family to call home.

8. Google: “To provide access to the world’s

information in one click.”
Google’s vision statement is short, simple, and concise. It doesn’t use big words to
express the company’s lofty goals.

Instead of using complicated business jargon, the vision statement example is simple
enough for a second grader to read and understand. This is important—because even
second graders use Google.

9. Facebook: “Connect with friends and the world

around you on Facebook.”
Though Facebook has expanded to other social media platforms, like Instagram, its focus
has always been on connecting people. This vision statement puts connection front and
center and then uses active language to encourage just that.

Additionally, the direct and actionable language puts the onus on the reader, whether it be
Facebook employees or users—to connect. This language draws people into Facebook’s
online community—in the same way, they’re part of their own communities—by inviting
them to experience the world online.

10. McDonald’s: “To move with velocity to drive

profitable growth and become an even better
McDonald’s serving more customers delicious
food each day around the world.”
This vision statement example from McDonald’s has two clear goals: drive profitability
and serve more customers. Then, the statement ties the two goals together with the simple
act of serving delicious food—every day and around the world.
In a way, the McDonald’s vision statement also takes the onus off the company to
improve its food offerings. Customers love the brand’s food, and as long as
it stays delicious, they’re following their vision. For that reason, the company’s real goal
is to take that food and serve it to an ever-growing number of customers.

11. Patagonia: “Build the best product, cause no

unnecessary harm, use business to inspire and
implement solutions to the environmental crisis.”
This vision statement is significant because it speaks directly to consumers. What’s more,
it’s tailored around Patagonia’s more conscientious customers. They are more likely to
pay top dollar for high quality, fair trade, and more sustainable products.

Using inspirational language and focusing on the environmental crisis, Patagonia’s vision
statement targets both customers and employees who care deeply about the environment.

12. Berkshire Hathaway: “Our vision is to be the

provider of choice in our communities for
comprehensive real estate and financial
solutions.”
This vision statement is just like the company it describes—it doesn’t leave anything out.
It says precisely what Berkshire Hathaway wants to be, for whom, and in what sectors.
Like the company’s investments, the vision statement doesn’t pigeonhole. Instead, it
allows the company to be comprehensive and grow along with the market.

13. Amazon: “To be Earth’s most customer-

centric company, where customers can find and
discover anything they might want to buy online.”
Amazon’s vision statement is useful because it puts the company’s priorities front and
center. First, the statement mentions the company’s customers twice in a single sentence.
Then, it uses actionable terms like “find” and “discover” to show that customers can find
and purchase what they want and need.
The idea of being able to find “anything” also underscores the company’s commitment to
offering a massive selection of merchandise and making it easily accessible online.
Finally, this example stands out from other vision statements because its mention of Earth
brings to mind one of its founder’s other endeavors—space travel.

14. Nerdster: “To be a nerd for all your needs.”

This vision statement example is significant because it clearly states who they are, in
doing so—how it helps their customers. What’s more, Nerdster isn’t embarrassed or
turned off by the fact that they’re nerds.

Instead, it’s plainly stated to draw attention to how the company’s website development
services can help customers. And, because this is a vision statement, it goes beyond its
current offerings to say Nerdster can be a nerd for ALL client needs.

15. Netflix: “Becoming the best global

entertainment distribution service. Licensing
entertainment content around the world. Creating
markets that are accessible to filmmakers.”
Netflix breaks its vision statement into three parts, each written in the active voice. This
statement is especially effective because it uses strong, concise, thought-provoking verbs.
What’s more, the statement also puts the focus on content while pushing the idea of
expansion and global coverage.

Interestingly, the statement doesn’t say anything about viewers and instead directs its
future toward production and making it easier for creators to get their content to market.

16. Human Rights Campaign: “Equality for

everyone.”
The Human Rights Campaign’s vision statement is short, simple, and straightforward.
Because of that, it also leaves some meaning open to interpretation.

This strategy makes the vision statement even more aspirational because it leaves the
organization open to growth and lets readers interpret it how they want. In this way, it
both inspires and invites people to support the organization’s efforts.
17. Alzheimer’s Association: “A world without
Alzheimer’s disease.”
The Alzheimer’s Association’s vision statement is truly that—a vision. It doesn’t say it
wants to pursue its goal. It doesn’t say it wants to inspire people to move toward it. Its
vision is to eliminate Alzheimer’s disease. Still, how they’ll achieve it and what they do
once they get there—they leave open to imagination.

Not only is this a confident vision statement, it’s unabashed as if to say, “This is our
vision. It’s not changing. Because it’s that important.”

Because of these characteristics, this vision statement from the Alzheimer’s Association
is genuinely aspirational. It is the foundation of the organization’s efforts.

What Makes an Effective Vision

Statement?
There are specific characteristics that effective vision statements have in common. Look
for these traits when updating your current vision statement or crafting a new one.

 Future-focused. Create a future-focused vision statement by providing the “big

picture” and clearly describing what your organization will be like in several
years.
 Directional. Vision statements that provide direction can serve as a guide to
organizational plans and strategies.
 Specific. An effective vision statement should be clear and focused enough to
shape decision-making.
 Relevant and purpose-driven. By reflecting your company’s response to the
challenges of the day, a purpose-driven vision statement can motivate your team.
 Values-based. Use your vision statement to describe the specific values that are
required to support the organization.
 Challenging. A vision statement can challenge your employees and customers by
inspiring them to do great things and achieve a higher level of standards.
 Unique and memorable. Your company’s vision statement will make more of an
impact if it highlights what makes your organization different and why it matters.
 Inspiring. Vision statements that inspire employees to commit to a cause are
more effective than those that do not.
Bottom Line
When it’s time to write your company’s vision statement, don’t worry about making it
perfect the first time. Begin a conversation with yourself and envision how you want your
business to look in terms of growth, values, contributions to society, and employees.
Make a note of the words that trigger the strongest emotions and illustrate your
aspirations for the company. Then, craft a truly inspiring vision statement and incorporate
it into your business plan.