Vision Statement Analysis

Earlier I demonstrated that the business entity is conceptually similar to an aircraft (more specifically, a fighter aircraft). The objective of an aircraft engineer is to develop a fighter aircraft that exhibits the maximum possible performance in the corresponding fighter category (interceptor, air superiority, fighter-bomber, night fighter, etc.). The objective of the entrepreneur and/or the CEO of a business entity – a business engineer – is to build an organization that exhibits the maximum possible performance in its industry.

To accomplish this very ambitious objective, the aircraft engineer will ultimately need detailed blueprints for his/her aircraft. The business engineer will need detailed blueprints  – the corporate objects maps – for his/her organization.

However, development of these blueprints has to start somewhere. And, naturally it starts with a vision. A clear vision of the aircraft to be designed by the aircraft engineer and a no less clear vision of the company to be built for a business.

The vision of the aircraft needs to be communicated to all other engineers and workers who will build and modify the aircraft in question; to pilots that will fly it and to mechanics that will maintain it. The vision of the business entity needs to be communicated to all corporate employees – managers and professionals – that are involved in building, modifying, managing and operating a commercial enterprise in question.

Therefore, your company needs to produce a concise (no more than one page long) yet comprehensive corporate vision statement. Contrary to the popular belief, a business entity does not really need a separate mission statement (although you can develop one if you so wish). Corporate mission is a unique way in which your company satisfies the aggregate needs of its stakeholders and target markets – which is essentially a part of your corporate vision.

In addition to being comprehensive, logically sound and adequate (it needs to fit your KEF in particular, the whole reality in particular and make common sense), your vision statement must provide a powerful drive for your employees to maximize their individual performance, your aggregate corporate performance and to build and maintain a powerful money-making machine.

You perform the analysis of your corporate vision statement in much the same way as you analyze your KEF function (see above). You find answers to CBA questions (supporting them with linked relevant documents), complete the corresponding ACRC sections, assign scores to individual questions and develop and implement financial and operational plans for optimizing your corporate mission statement and maximizing its value for your company.