Having a Shared Corporate Vision: More Than a Feel-Good Expression
My keynote speeches for corporations on the value and importance of having a shared company vision stress that a collective vision is more than a “feel-good” expression; it is a philosophy of corporate wellness. There is quite a bit of research that backs me up on this point.
Back in 1997, Peg Thoms, Ph.D., a management professor in the School of Business at Penn State, wrote an article for the Project Management Institute entitled “Creating a shared vision with a project team.” Among many observations, it was Dr. Thoms’ contention that:
“Researchers have begun to find evidence that an effective vision does lead to positive organizational outcomes. Two recent studies found a strong relationship between the existence of a corporate vision and performance measures like profitability and productivity. Many other authors have reported increased job satisfaction, commitment, and loyalty.”
Fast forward to November 30, 2016, when Tori Utley writing for Forbes on the topic of having a shared vision stressed to entrepreneurs in the process of building a company that:
“Shared vision should become more important than your vision. Though you have a vision for your organization, you must learn to share that vision across your company and communicate it accordingly. Don’t let the future of your company die because you didn’t share your vision with others… create an organization [with support] that can evolve, grow and adapt years into the future.”
To prove this concept of a shared vision to a specific industry, I’ll draw upon the work of Jacqueline Martin who did an important piece of research for a subject close to my heart: patient care in hospital settings.
“The study found that a [shared] vision provides orientation and meaning for leaders and their teams. It helps them to focus their energies and engage in the transformation of practice.”
What Conclusions Can We Draw?
The studies, from three points of view – academic, entrepreneurial and the specific (the healthcare industry) – underscore several common traits for the importance of a shared vision.
- Shared vision leads to positive outcomes.
- Shared vision improves profitability, productivity, job satisfaction and loyalty.
- The stronger the shared vision the higher the commitment.
- Shared vision helps focus the energy of teams.
- The best entrepreneurial efforts go forward when the vision is shared.
- Shared visions transform organizations.
- Shared visions give organizations a unified purpose and meaning.
A shared vision is more than a “good concept” or a “feel-good” expression. It can be the life-blood of an organization to give it meaning and reason for being. The shared vision means just that; it can’t be the vision of a handful of executives alone, but of everyone who works to make it a better company.
To create a shared vision ultimately means we all must have the determination and the mindset to be unified around that vision and to make it work, every day.
To book Scott Burrows, Motivational Speaker for corporations on on Vision, Mindset, Grit for your next in-person or virtual event, contact him today through this website or his office at: (520) 548-1169