Identifies the (specific) future state of the company

Quantifies a

(broad) mission statement

Has many dimensions

Helps managers to define the future they want

Used to manage

Means discernment, foresight, insight, imagination dreaming

Provides ways to relate short term & long term decisions

Is the process of choosing and creating company’s future

A technique of planning-based on the current state of the firm and on its way evolving incrementally

Controls the current state

Controls system’s evolution

Allows taking firm anywhere