The Four Elements of an Inspiring Vision

When a group of Wharton executive MBA students asked me recently to speak to their class, they told me they learn plenty about accounting, modeling, and supply-chain management. What they wanted now were ways to communicate the value of their companies' brands to their employees, investors, and customers. I told the students that the key to getting people excited is an ability to articulate an inspiring vision.

When a leader fails to articulate such a vision, people notice. Yahoo (YHOO) co-founder Jerry Yang, who will step down as CEO soon as a replacement is named (BusinessWeek.com, 11/19/08), might have had a long-term vision for the company, but he had a hard time expressing it. Whether you’re running a Fortune 500 company or a small boutique on Main Street, an effective vision must incorporate the following four elements.