• Vision statement: A Vision statement outlines what the organization wants to be, or how it wants the world in which it operates to be. It concentrates on the future. It is a source of inspiration. It provides clear decision-making criteria.
• Definitions: “description of something (an organisation, corporate culture, a business, a technology, an activity) in the future”. (Kotter)
• “mental perception of the kind of environment an individual, or an organisation, aspires to create within a broad time horizon and the underlying conditions for the actualisation of this perception”. (EI Nakami )
• A Vision Statement defines what your business will do and why it will exist tomorrow and it has defined goals to be accomplished by a set date.
• A Vision Statement takes into account the current status of the organization, and serves to point the direction of where the organization wishes to go.

Examples of Vision:

• Amazon: Our vision is to be earth's most customer centric company; to build a place where people can come to find and discover anything they might want to buy online.
• Nike: To bring inspiration and innovation to every athlete* in the world. (*If you have a body, you are an athlete.)
• Nepal Investment Bank: Our vision is to be the most preferred provider of Financial Services in Nepal.
• Chaudhary Group: We strive to be a global leader in customer value.
• BMW: To become most successful premium manufacturer in the car industry.

Benefits of Vision:

• Good visions are inspiring & Exhilarating (generate excitement)
• Good visions help in the creation of a common identity and shared sense of purpose.
• Good visions foster risk-taking and experimentation.