A strategic vision is an ambitious picture of the future that guides an organization's strategy. It is aspirational and need not be fully achievable. In other words, a strategic vision serves as a direction and purpose as opposed to a concrete goal. The following are common types of strategic vision.
EconomicsA vision for the economics of a firm or industry. This includes new business models, pricing models, cost models and attention economics. For example, a solar panel firm that has a vision to reduce the cost of a product from $1000 to $50 such that demand will jump and solar will displace other forms of energy based on its superior economics.
Visions based on brand recognition, brand image and reputation. For example, a small organic beverage company with a vision to displace far larger firms to become a household name recognized by billions of consumers.A vision for your customer experience such as a theme park that envisions attractions and shows that are like stepping into a movie. Customer experience includes elements such as usability, services, design and quality.
Developing and sustaining a superior level of quality. Quality simply means that your products are fit for purpose such that they meet customers needs and delight customers based on their preferences and perceptions. For example, a sushi restaurant that seeks to reinvent fine cuisine with innovative techniques and ingredients inspired by tradition.
A competitive advantage is something that you do better than all other competitors in a market. This often relates to the ability to change to continually reinvent your products, costs, performance, quality and customer experience. For example, a sporting good company that envisions being able to customize every product for every customer at a low cost.
A vision for a better quality of life for customers, employees and communities. For example, a city with a vision for an ultra efficient transportation network that uses far less land than the current system of roads such that the city can be filled with parks and other public spaces.
A vision for a better world with stewardship of resources and resilience to risk. For example, an energy company that sees a future of energy abundance with near zero impact on ecosystems.
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