Exploring the current practice of visioning: case studies from the UK financial services sector

Abstract

This paper describes case vignettes of the practice of vision development in eight financial services organisations. Important observations emerge about current practice; for example, formal methodologies are rarely adopted in vision development; rather, more informal processes of debate are preferred. A major tension is observed in organisations that exist to provide a service, and yet do not involve the deliverers of that service in the process of vision development. Weaknesses in internal communication and staff buy‐in to the vision are identified, along with difficulties in completing the strategic development process.