Along side goals, Org vision and Strategy create the foundation of the “WHY” of your organisation. But, these also create the most confusion for people. so let’s look at some definitions.
Vision
Vision is why your organisation exists in the first place. A well written Vision is timeless – independent to changes in technology or competition. A good vision statement clarifies what problem it solves, for who, and what sets your organisation apart from other trying to solve the same problem.
Strategy
Strategy is how will your organisation achieve its Vision. A good Strategy will taken into account all factors which can help achieve the vision such as current market conditions, competitors and partners. Strategy can be broken down into a short term and long term timeline.
Problem: Description of the problem you’re solving
Solution: Outline a possible solution for each problem.
Key Goals and KRs: List the key numbers that tell you how your business or product is doing.
Unique value proposition: A single, clear, and compelling message that states why you are different and worth paying attention to.
Unique advantage: What your product has that cannot be easily bought or copied.
GTM Channels: Outline your path to customers both inbound and outbound.
Persona and Customer segments: List your target customers and users.
Revenue streams: List your sources of revenue.
Goals (OKRs)
OKRs are more narrower than strategy and guide tangible and measurable action toward to execute the strategy. OKRs also guide day to day actions of departments and workgroups within your organisation.
Initiatives
Initiatives are projects that teams carry out to achieve goals. Projects linked to Goals and KRs to give more clarity on how the work teams do daily impact the overall goal.
Examples of Vision Statements
- Spacex – The Road To Making Humanity Multiplanetary
- Tesla – To help expedite the move from a mine-and-burn hydrocarbon economy towards a solar electric economy link
- Ikea – Our vision is to create a better everyday life for the many people – for customers, but also for our co-workers and the people who work at our suppliers. Link
- Nike – Bring Inspiration And Innovation To Every Athlete* In The World (*If you have a body, you are an athlete.) – link
- Disney – To entertain, inform and inspire people around the globe through the power of unparalleled storytelling, reflecting the iconic brands, creative minds and innovative technologies that make ours the world’s premier entertainment company. – Link
- Facebook – Connect with friends and the world around you on Facebook
- LinkedIn – Create economic opportunity for every member of the global workforce – Link