What product improvements do you want to make? How do you communicate these goals to your employees and customers to keep them Interested In your brand? In Strategic Management for Organizations, Abraham states, “A vision statement Is a concise expression of where the organization would Like to see Itself In the next 5 to 10 years” (p. 41 By developing a Balloon statement the leadership of a company Informs Its stakeholders of where the company Is going and what Its goals for the future are.
Vision statements and strategy go hand In hand. “A good balloon statement provides the inspiration for the daily operations of a business and molds its strategic decisions” (Homo, 2013) when developing a vision statement leaders must insider factors such as: is the vision in alignment with the current strategy, is the goal achievable, and do we have the resources available to achieve those goals.
The owner of Johnny Reps, a small southern style restaurant, may decide that within the next 5 years he would like to see his business become the number one restaurant in town, He wants to achieve Better Business Bureau accreditation, and he wishes to be named a five star restaurant by Forbes Travel Guide. This business owner’s vision statement may look like this; Johnny Robe’s will become the best place to eat in Barstow by serving great food in a friendly atmosphere that receives a five star rating from Forbes Travel guide.
We will strive to provide excellent service to our customers and earn their trust while achieving Better Business Bureau accreditation. When an organization sets achievable goals that are in alignment with the strategic plan and then provides its employees with the resources and motivation to achieve those goals they can stay competitive in the marketplace. Vision statements are developed to Inform stakeholders of the organizations goals in a clear and concise manner, they Inspire employees to achieve those goals by painting a picture of what the company can achieve.