1 of 4

Write now Article Tools

A vision statement or a simple business plan, ideally put on a paper, or alternatively etched deep in the mind of the business promoter, is the motivating force for the existence and growth and of any business. A business house can be an "also ran" in a motley crowd or can stand apart with head held high. The extent to which the business owner strives to make the vision a reality makes the difference between the two.

Staying true to the vision also depends on how detailed or specific the vision statements are and the time factor taken into consideration to achieve them. If there is one thing certain about business, it is uncertainty. If the vision statement has no flexibility to weather the storms of business uncertainties, it is most unlikely to stay true to the original statement.

== Technological changes - the Greatest Villain to Business Plans ==

There are certain industries highly susceptible to frequent technological changes whereas some other industries are not. For example, the onslaught of technological changes in a machine tool industry is far too less when compared to the computer Industry.

A machine tool firm making a business plan "to become the country's number one CNC Turning Center manufacturer in the next 10 years" is likely to have a higher possibility of realizing the vision than a computer firm making a business plan "to become the number one portable Hard disk manufacturer in the next 10 years".

In the field of electronics, computer hardware and software, telecommunications etc., the changes in technology are so rapid and sweeping, that what is hot-selling today may become totally out dated in the next 3 to 4 years. In our above example, it is quite probable that the very technology of portable Hard disks may get wiped out from the field in the course of next 10 years! Under such circumstances, the business plans must be less specific and more generic.

To stay true to one's vision, in our above example, the vision statement can be modified as: "to become number one computer memory/ storage device manufacturer in the next 6 years". Now, this modified statement excludes a specific technology currently in vogue, but encompasses all future changes in technology towards a more generic business plan. It also means that the company has to invest heavily in R&D to encompass technologies other than their current,core and limited one, namely, hard disks.

== The Influence of Business Cycle ==

Business activities are always subject to natural business

• 1
• 2
• next page >>

Add your voice

Know something about Business plan: Staying true to your vision?
We want to hear your view. Write now!