Strategic vision, in general, refers to theoretical and overall organizational goals formulated by decision-makers of a given organization to enhance uniform and coherent practical steps to achieve the greatest possible effectiveness and efficiency as well as enhance the stakeholder’s profitability.
However, strategic vision is mainly a theoretical component that requires modifications and adjustments to adapt to ever-evolving markets based on predictable and unpredictable factors. Predictable factors may include consumer attitude, economic growth, product development, and internal and external expenditures. Unpredictable factors may include political turmoil, domestic or international competition, and internal and external conflicts.
The above factors may influence minor and major components of strategic vision. Hence requiring a great deal of flexibility and adaptability to translate a predetermined strategic vision into a lasting and viable umbrella guideline. Nevertheless, it is essential to emphasize that strategic vision is meaningless if the organizational design and inner workings cannot translate such visions and theories into practical, real-world actions. Thus, it is important to evaluate the basis for the strategic vision regarding acting ability and organizational capability to achieve the required goals.
In any case, the main point of strategic vision should be the determination of a theoretical methodology designed to create overall directions with the flexibility to adapt to the ever-changing global business. To have a viable strategic vision or strategy, the stakeholders and decision-makers must include viable and practical components that would enable the strategic vision to become a reality. Hence a strategic vision that is designed to be viable will naturally include many factors that enable the given organization the ability to translate it into actions and, ultimately, profitability.
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