Leaders should communicate this vision internally to team members and externally to customers. The customers then know what products and services to expect and employees know what products and services to provide. Customers can provide feedback to the vision. Employees are empowered by the vision. Through this, the company sets a common set of core values and long- term goals.
Vision helps stimulate a high level of innovation by defining a higher purpose for the organization.
Vision also helps create an environment for continuous improvement of products and services based on feedback from customers. Visionary companies balance the needs of stakeholders and create an environment for success. Such visionary companies satisfy the needs of society while creating success for stakeholders in the manner of the book Built to Last by James C. Collins and Jerry I. Porras. Good leadership demands that these timelines for decision processes be well understood. Long-term decisions should be consistent with the organization s core values.