Top 20 Destroyers of Business Value: # 5 Lack of a Clear Vision and Direction

Posted on August 17, 2012 · Posted in Blog

Does your business have a vision and direction that creates a compelling image of the future? Is your vision used as a guidepost for decision making by the people in your organization? Can your vision be articulated by your management team and employees?

If not, then it’s time to develop a clear vision and direction for your business.  It’s pretty simple…..If you don’t know where you are going, how will you get there and inspire others to help you on the path?

A good vision clearly describes what the company aspires to be in the future (usually beyond 3 years).  A good vision has the end result in mind and provides the inspiration and reason for fulfilling the company’s mission.

Why does the lack of a clear vision and strategy destroy value? Value ultimately comes down to the future potential of a business to be successful, grow and generate cash flow.   Without a clear vision and direction, there is an increase in uncertainty which creates additional future risk and decreases value.

A good vision should:

  • Provide a guideline for decision making throughout the business
  • Build alignment and commitment at all levels of the organization
  • Facilitate desired change
  • Serve as a roadmap for future decisions
  • Inspire and motivate action
  • Prepare the business for the future

A well executed vision becomes part of the organization’s culture and comes to life in the everyday activities and actions of your business team.    Are you destroying value by not having a clear vision and direction?

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