Baxendale
Walker - Creating a vision statement for a strategic plan
Baxendale
Walker says that the development of a vision statement for a strategic plan is
one of the most crucial aspects in determining its success. In order for a
business to move forward in a positive manner, the owner and management team
must recognise the necessity of choosing a direction for the company, and
planning specific goals which are shared by the entire organisation. A vision
statement serves as a roadmap for the future of a company and includes not only
what direction it needs to take, but also the capabilities it will develop, the
business activities which must be pursued, the market position it will occupy
and the customer focus it needs to develop.
Creating
a strategic vision for the organisation like Baxendale Walker will infuse with a sense of purpose and
delineate what it wants to become. In practical terms, a carefully considered
vision statement should serve as a guide for management team members when it
comes to decision making, should shape the company’s overall strategy, and have
a very clear impact on how the organisation is run on a daily basis.
In order
to create a concise, yet powerful vision statement as part of a strategic plan,
the management team should firstly write down a short list of the services or
products which the business provides. Then, list the attributes which
differentiates the company from its competitors, and makes it one of the best
in the industry.
Next in
the vision statement, the value which the customers of the business receive
should be recorded – this might include the provision of tangible solutions to
their problems. Keep in mind that true value doesn’t originate from the
features of the service or product, but rather the benefits which can be
derived from those features.
According
to Baxendale Walker, the corporate philosophy of the company must also be
included in the statement. In this section, the company’s current ethical
standards and social responsibilities which it wishes to maintain should be
listed. Add to this any ethical or social aspirations the company can
realistically achieve within the given timeframe.
