Vision Statements are developed at the highest level of the organization, typically Executive
Management and the Board of Directors if there is one. In some countries, such as Canada, the
Boards of Directors are required by Regulators to approve the Vision Statement along with
any associated Code of Conduct.1 They are relatively stable for long periods of time.
Recreating a Vision in a well established organization is symptomatic of some form of
turmoil, either within the organization or in the industry of which it is a part. Frequent changes
in the Vision leave the organization confused about who they are and where they are headed.
This can be devastating for morale. A well understood and accepted Vision Statement
conversely will serve as an effective focal point for project evaluation.