Many people use the terms vision and strategy interchangeably, but they are not the same thing. A vision is a broad and inspiring statement of what you want to achieve in the future. A strategy is a specific and actionable plan of how you will get there. A vision without a strategy is just a dream. A strategy without a vision is just a list of tasks.

Vision: The What and Why

A vision is a clear and compelling picture of the desired future state. It answers the questions: What do you want to achieve? Why does it matter? A vision should be:

• Aspirational: It should challenge you to go beyond your current reality and reach for something bigger and better.
• Inspirational: It should motivate you and others to work hard and overcome obstacles.
• Directional: It should provide a sense of purpose and direction for your actions.
• Memorable: It should be easy to remember and communicate to others.
  

Some examples of vision statements are:

• o be Earth’s most customer-centric company. (Amazon)
• To inspire and nurture the human spirit – one person, one cup and one neighborhood at a time. (Starbucks)
• To organize the world’s information and make it universally accessible and useful. (Google)
  

Strategy: The How

A strategy is a coherent and logical set of choices that guide your actions to achieve your vision. It answers the question: How will you get there? A strategy should be:

• Specific: It should define the key objectives, initiatives, and resources that will drive your progress.
• Measurable: It should include indicators and targets that will help you track your performance and results.
• Achievable: It should be realistic and feasible, given your capabilities and constraints.
• Relevant: It should be aligned with your vision and mission, as well as the needs and expectations of your stakeholders.
• Time-bound: It should have a clear timeline and milestones that will keep you focused and accountable.
  
  

Some examples of strategic choices are:

• To focus on online retailing and offer a wide range of products at low prices. (Amazon)
• To differentiate by providing high-quality coffee, exceptional service, and a unique customer experience. (Starbucks)
• To innovate constantly by developing new products, services, and platforms that leverage data and technology. (Google)

Aligning Vision and Strategy

Having a clear vision and a sound strategy is not enough. You also need to align them so that they support each other and create synergy. Here are some tips on how to do that:

• Start with your vision. Your vision should be the foundation of your strategy, not the other way around. Your vision should drive your strategic decisions, not limit them.
• Communicate your vision and strategy. Make sure that everyone in your organization understands your vision and strategy, as well as their role in achieving them. Use different channels and formats to convey your message effectively.
• Involve your stakeholders. Engage your employees, customers, partners, suppliers, investors, and other stakeholders in developing and implementing your vision and strategy. Solicit their feedback, input, and support along the way.
• Review and adjust. Monitor your progress and results regularly. Celebrate your successes and learn from your failures. Be flexible and adaptable to changing circumstances. Update your vision and strategy as needed.

Take it away

Vision and strategy are two essential elements of any successful endeavor. They are not the same thing, but they are closely related. A vision is what you want to achieve, while a strategy is how you will get there. To succeed, you need to have both a clear vision and a sound strategy, as well as align them for maximum impact.