You Know the What, but how about the Why!
Last week, we talked about the mission statement or the “what you do, how you do it” statement. This week, we will discuss the “who you are you and why you do it” statement (aka, the vision statement). A vision statement describes an organization’s meaning and purpose for the future. Below are some key components:
- Purpose and Content– A vision statement describes the reasons for a company’s mission. It explains why customers and employees should stay with you for the long term. It should be clear, concise, realistic, and inspiring.
- Importance – A vision statement is a critical component of every business plan and strategy discussion. It attracts investors, customers, and partners, and builds trust and credibility.
- Revisions – A vision statement should be regularly updated to ensure it mirrors the organization’s current purpose.
Below are some good articles that might provide more context:
- Is A Vision Statement Important? (forbes.com)
- Building Your Company’s Vision (hbr.org)
- What Is a Vision Statement? Examples of How to Write One (businessnewsdaily.com)
Other items of interest:
- Incentive Plans: Boosting Performance and Morale | Stambaugh Ness (11/12; 2-4pm EST)
- Do You Have Cyber Insurance? | Cybersecurity | EisnerAmper
- GenAI: Bridging the Leadership-Employee AI Gap | EisnerAmper
- False Start: Why Newly Formed Online Businesses Should be Cautious When Deducting Business Expenses
- EisnerAmper Webinar | Alan’s Thinking Cap | Q3 Capital Markets Update (10/29; 2-230pm EST)
- Real Estate Incentives for Entities in Manufacturing & Distribution (11/12; 1030-1130am EST)
As always, please don’t hesitate to email myself (jsanders@mpl-law.com), Andy Miller (amiller@mpl-law.com), Christian Miller (cmiller@mpl-law.com), Erik Spurlin (espurlin@mpl-law.com), Brad Leber (bleber@mpl-law.com) or anyone in our office with questions or comments.
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