Although the concepts of vision and strategy are frequently used, few executives understand the relationship between them and this can prove a real obstacle in developing a game-changing strategy. Let us attempt to demystify these two separate but complementary concepts.
Vision, in our view, is the construction of a mental picture of what an organisation should look like at a given time in the future. A vision is usually long term in nature, typically decades, and in some instances centuries!
Strategy, in our view, is the process that leaders go through to convert that future picture into a tangible future strategic profile. They can then go on to use this profile as their filter for decision making, in order to grow the company over a specific time frame. Strategy is a verbal description of the business concept that the organisation will deploy in order to realise that mental picture or vision of itself in the future.
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