Capterra Glossary
Vision Statement
A vision statement is a description of why an organization exists and how it plans to achieve its long-term goals. In other words, a vision statement assigns purpose to a company and motivates teams to work together to achieve set business goals. Vision statements are often quite brief and focus on one clear objective for a business to achieve in the future. Vision statements focus on the big picture of an organization, enabling internal departments to set individual priorities and goals that benefit the entire organization.
What Small and Midsize Businesses Need to Know About Vision Statement
A clear, impactful vision statement is one of the many components of a convincing business plan that small businesses need to grasp the attention of investment groups. A vision statement tells investors what goals their business seeks to achieve, what impact their company will have in the future, and, therefore, how profitable they expect their business to be.
As time goes on, a vision statement can also impact company culture and organizational structure to keep businesses on the right track.