A company’s VISION has two components: (1) Core Ideology and (2) Envisioned Future.
(1) Core Ideology, in turn, has two parts: (1A) Core Values and (1B) Core Purpose.
(1A) “Core Values are the handful of guiding principles by which a company navigates. They require no external justification. For example, Disney’s core values of imagination and wholesomeness tem from the founder’s belief that these should be nurtured for their own sake, not merely to capitalize on a business opportunity. Instead of changing its core values, a great company will change its markets – see out different customers – in order to remain true to its core values.”
(1B) “Core Purpose is an organization’s most fundamental reason for being. It should not be confused with the company’s current product lines or customer segments. Rather, it reflects people’s idealistic motivations for doing the company’s work. Disney’s core purpose is to make people happy – not to build theme parks and make cartoons.”
Core Ideology expresses the ethical reason a company is in business.
(2) Envisioned Future also has two parts: (2A) BHAGs and (2B) Vivid Description.
(2A) “Big, Hairy, Audacious Goals (BHAGs) are ambitions plans that rev up the entire organization. They typically require 10 to 30 years’ work to complete.” (Remember: “A BHAG is a clearly articulated goal that is reachable within 10 to 30 years. But your Core Purpose can never be completed.”)
(2B) “Vivid Descriptions paint a picture of what it will be like to achieve the BHAGs. They make the goals vibrant, engaging – and tangible.” (In the 1950s, Sony’s Vivid Description was: “Fifty years from now, our brand name will be as well known as any in the world…and will signify innovation and quality…’Made in Japan’ will mean something fine, not something shoddy.”)
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