If you don’t know where you are going, you will end up someplace else
Yogi Berra
Vision is one of the most important components of your framework. Vision is what sets the direction for the organization. It is the end product which sets the Strategic Filter, Prioritization, and the Core Values required to set the goals to get from any point in time towards the vision. It is the tool that helps explain to your investors as well as acquired/newly built businesses how the organization is planning to create value for both investors as well as employees. It provides the purpose or the “big WHY” for the organization.
Not having a clearly defined vision that is the same for investors as well as future businesses that join an organization will create a fracture at the strategic level that will be noticeable once the organization enters the scaling phase. If there is no vision, there is no clear direction of where the organization is going.