Why is a vision statement important for a business?

Why is a vision statement important for a business?

A vision statement provides direction and purpose, guiding a business's strategies and decisions.

Can you give me an example of a good vision statement?

Sure! A great example is Tesla's vision: 'To create the most compelling car company of the 21st century by driving the world's transition to electric vehicles.'

How often should a company revisit its vision statement?

It's advisable to review the vision statement every few years or during major changes in the business environment.

What happens if a company doesn't have a vision statement?

Without a vision statement, a company may lack direction, leading to inconsistent strategies and employee disengagement.