Although the concepts of vision and strategy are frequently used, few executives understand the relationship between them and this can prove a real obstacle in developing a game-changing strategy. Let us attempt to demystify these two separate but complementary concepts.<\/p>\n
Vision<\/em>, in our view, is the construction of a mental picture of what an organisation should look like at a given time in the future. A vision is usually long term in nature, typically decades, and in some instances centuries!<\/p>\n Strategy<\/em>, in our view, is the process that leaders go through to convert that future picture into a tangible\u00a0future strategic profile.\u00a0<\/em>They can then go on to use this profile as their filter for decision making, in order to grow the company over a specific time frame. Strategy is a verbal description of the\u00a0business concept\u00a0<\/em>that the organisation will deploy in order to realise that\u00a0mental picture\u00a0<\/em>or\u00a0vision\u00a0<\/em>of itself in the future.<\/p>\n