Vision – strategy – execution | From target image to individual measure
“I have a dream.“ Everyone knows it, the vision of Martin Luther King of the social, economic, political and legal equality of African Americans in the USA, which he expressed in his famous speech at the Lincoln Memorial in Washington D.C. in 1963.
The Duden defines the term vision as a „picture designed in someone’s imagination especially with regard to the future“. A vision is thus a motivating and positively formulated idea of a state that must be achieved in the long term. A corporate vision also plays a leading role in the economy, defining the company’s guidelines and goals. Examples of this have already come to each of us. Probably one of the best known is the founding vision of Microsoft: „A computer on every desk and in every home.
Vision – strategy – execution
But why is a vision so important for the long-term success of a company? Within the framework of a company vision, the purpose and goal of the company for the coming years is defined briefly and concisely, expressing where it will be in five, ten or twenty years and what it wants to have achieved. By defining a vision, a corporate mission statement is created, which in turn forms the framework and basis for all entrepreneurial activities. Ideally, a vision statement is simple, understandable and triggers positive emotions, which have an internal effect on the company’s employees and an external effect on stakeholders and customers.
Once the vision is in place, it is necessary to transform it into a corporate strategy. The strategy determines the operationalizable long-term goals of the company and the ways in which they are to be achieved. The strategy considers the company’s competencies and its strategic direction as well as general conditions, markets and competition.
Vision and strategy are finally executed in short- and medium-term measures. This „vision – strategy – implementation“ approach, i.e. the structured breakdown of the core of the company’s essence into concrete measures, actions and processes, ensures that all activities are always in line with the company’s vision and strive to achieve this target state in their entirety. The consistency of the execution to the basic vision creates authenticity and thus has an important influence on the credibility and the image of the company.
Why Procurement also needs a vision
So, a vision always forms the normative framework for the entire company, from which all further activities and actions can be derived. It is designed so abstractly that it can be applied to all areas of the company.
At the same time, however, it is precisely this transfer of the abstract core of essence into tangible guard rails that is often difficult for single company areas. This is the reason why more and more Procurement departments are moving towards translating corporate guidelines into a mission statement for Procurement in particular. The definition of a vision for Procurement links the overarching corporate vision with the special features of this division and thus provides employees in Procurement with concrete identification and orientation points. The procedure here is analogous to the corporate level: Vision – strategy – execution.
Could we arouse your interest? As ADCONIA GmbH, we have the necessary skills and wealth of experience to support customers in finding and formulating a vision and mission statement for Procurement, as well as in implementing it in strategy and individual measures. We will be happy to answer any questions you may have.