Business Vision Statement

Definition

A business vision statement is the business (re)engineering requirements work product that documents the customer organization’s vision of their reengineered business enterprise.

The typical objectives of a business vision statement are to:

Document the results of business engineering.
Document the development organization's recommendations for reengineering the customer organization.

The typical benefits of a business vision statement are:

The business vision statement ensures consensus withing the customer organization regarding the future of the business.
It provides a foundation upon which to develop the application vision statements.

The typical contents of a business vision statement are:

New Business Overview:
- Description of New Business
- Business Drivers
- Challenges
- Opportunities
- Motivation for Reengineering
New Mission Statement
New Core Values
New Business Goals:
- Financial Goals
  (e.g., profitability, return on investment, first mover advantage)
- Market Goals
  (e.g., market presence, market share, digital branding, partners and suppliers)
- Organizational Goals
  (e.g., streamlined, profit and loss centers, staff retention and training)
- Technology Goals
  (e.g., pilot project of new technologies, standardize on technologies)
- User Goals
  (e.g., graphic, web, or wireless user interfaces)
Success Criteria
New Business:
- Lines of Business
- Target Market Segments
- Products and Services
- Business Object Model (summary)
- Business Process Model (summary)
- Market Channels
- Organization:
  - Organizational Structures:
    - Management Structures
    - Business Units
  - Stakeholders
  - Partners
  - Suppliers
- Major Initiatives
- Technologies
- Planned Applications
Required Investments:
- Cost
- Staffing
- Facilities
Rough Timeline
Conclusion
Appendices:
- Major Issues
- TBDs
- Assumptions

The typical stakeholders of the business vision statement are:

Producers:
- Business Strategy Team
- Technology Strategy Team
Evaluators:
- Strategy Inspection Team
- Customer Organization, which inspects the content for correctness
Approvers:
Maintainers:
- Business Strategy Team
- Technology Strategy Team
Users:
- Customer Organization, which uses it to understand and communicate the goals of their business.
- Business Strategy Team, which uses it to rearchitect the customer organization.
- Requirements Team, which uses it as an input to the application vision statements.

A business vision statement is typically produced during the following phases:

A business vision statement typically can be started if the following preconditions hold:

The business strategy phase is started.
The business strategy team has been staffed and trained in business visioning.
The technology strategy team has been staffed and trained in business visioning.
The customer analysis has been started.
The market analysis has been started.
The technology analysis has been started.
The user analysis has been started.

The typical inputs to the business vision statement include:

Work Products:
Stakeholders:
- Customer Representatives
- Business Domain Experts
- Business engineering Domain Experts
- Competitor Domain Experts
- Marketing Domain Experts
- Marketplace Domain Experts
- Partner Domain Experts
- Technology Domain Experts
- Vendor Domain Experts
- Usability Domain Experts

This is a living document that is developed incrementally and iteratively in parallel with other documents.
This document should typically produced during the business strategy phase of a business reengineering project However, it may also be either created or updated during the initiation phase of an application development project.

The business vision statement is typically constrained by the following conventions: