Your Vision Statement

It may take some time to come up with a succinct answer to what seems to be an easy question. Are you in the business of selling shampoo, or are you in the business of helping the customer achieve radiant good looks with sparkling hair? Does American Airlines sell airplane tickets or are they in the business of getting people from home to exotic locations around the world as quickly, comfortably and safely as possible?
Jacques Nasser, president and CEO of Ford Motor Company gave advice in an address he made to business people in September, 2000 where he listed five rules of the new economy. In short they are these:
1. The customer determines everything.
2. Knowledge assets are becoming more and more valued over physical assets. The combination of physical assets, intellectual capital and strong brands is what creates a powerful strategic advantage.
3. The days of a company built on a stand-alone product are over.
4. Technology and networks determine the shape of everything else.
5. Business no longer runs in parallel or vertical - everything cascades over everything else. Businesses must move from transactions to ongoing relationships.
How do these concepts affect the business you are planning for?

What is a Vision Statement?

A vision statement uses the future to help analyze the present. This is a crucial task for expressing your corporate purpose. It is the statement of why you are in business, not what you do, but it should be something everyone in your business can understand and relate to. It answers the question of how does your business change the world for your customers. It defines the values of the company - what business qualities you believe in. It talks about standards of behavior - why people come to work, why they are motivated to go the extra mile for the company. It isn’t necessarily just one sentence – it could be two or three.

Here are some examples of great vision statements.

Dupont
We, the people of DuPont, dedicate ourselves daily to the work of improving life on our planet.
We have the curiosity to go farther … the imagination to think bigger … the determination to try harder … and the conscience to care more.
Our solutions will be bold. We will answer the fundamental needs of the people we live with to ensure harmony, health and prosperity in the world.
Our methods will be our obsession. Our singular focus will be to serve humanity with the power of all the sciences available to us.
Our tools are our minds. We will encourage unconventional ideas, be daring in our thinking, and courageous in our actions. By sharing our knowledge and learning from each other and the markets we serve, we will solve problems in surprising and magnificent ways.
Our success will be ensured. We will be demanding of ourselves and work relentlessly to complete our tasks. Our achievements will create superior profit for our shareholders and ourselves.
Our principles are sacred. We will respect nature and living things, work safely, be gracious to one another and our partners, and each day we will leave for home with consciences clear and spirits soaring.

Ritz-Carlton
The Ritz-Carlton Hotel Company will be regarded as the quality and market leader of the hotel industry worldwide.

Westin
Year after year, Westin and its people will be regarded as the best and most sought after hotel and resort management group in North America.

Boeing
To be the number one aerospace company in the world and among the premier industrial concerns in terms of quality, profitability, and growth.

Portland Zoo
Caring now for the future of life.