Develop a vision and goals for an enterprise venture

URN: INSBE054
Business Sectors (Suites): Business Enterprise
Developed by: Skills CFA
Approved on: 14 Jan 2022

Overview

This standard is for intrapreneurs who develop a vision and goals for an enterprise venture. You need to develop a vision and goals for a new enterprise venture in the organisation to move forward its development and delivery. It involves reflection on personal goals and values, aligning these to the business priorities and assessing the openness towards enterprising responses in the organisation to support the development of the venture. It is recommended for professionals who are looking to make a positive, proactive and sustained difference to the enterprise venture.

For the purposes of this standard, an 'organisation' can mean an independent entity such as a private sector business, a local authority, a social enterprise, a charitable or voluntary organisation, or a significant operating unit, with a relative degree of autonomy, within a larger organisation. It can also refer to a formal partnership where two or more organisations are working together towards common goals. A 'venture' refers to an idea for a new activity, development or project which will make a difference to the economic and/or social performance of the organisation. 'Business environment' refers to the organisation's external and internal environment.


Performance criteria

You must be able to:

  1. research the business environment to explore enterprise venture opportunities to make a difference to the organisation
  2. define your personal vision and goals for the new enterprise venture
  3. define organisational vision and goals that are consistent with your own and your organisation's priorities, goals and values
  4. present ideas informally to colleagues and stakeholders
  5. achieve buy-in from colleagues and stakeholders for the vision and goals of the enterprise venture
  6. identify options for achieving the new enterprise venture's vision and goals
  7. analyse the options to select the best one
  8. evaluate the likely impact of current organisational performance on your vision and goals for the new venture
  9. assess capacity within the organisation to support the development and delivery of the new venture
  10. develop a business case for the commitment of resources which highlights the benefits to the organisation if the vision and goals of the new venture are achieved
  11. use your own goals and values to gain support from other colleagues in taking forward the new venture
  12. construct a roadmap to implement the new venture
  13. identify the barriers and challenges that may impact on the new venture
  14. identify tools of monitoring and evaluating achievement of the stated vision and goals for the new venture

Knowledge and Understanding

You need to know and understand:

  1. the ways of aligning personal vision and goals for the new enterprise venture to those of the organisation
  2. how to define a vision statement for the new venture
  3. why it is important to achieve buy-in from colleagues and stakeholders in development of the vision and goals for the new venture
  4. the informal methods of presenting the ideas related to the stated vision and goals for the new venture within an organisation
  5. how to present the benefits associated with the new venture to gain the commitment of colleagues and stakeholders within the organisation
  6. the tools for measuring the current performance of the organisation and the associated advantages and disadvantages
  7. the systems for monitoring and review to identify progress towards the vision and goals for the new venture
  8. the resources available within the organisation to underpin development of the vision and goals for the new venture
  9. the methods for marketing and communicating the vision and goals for the new venture to internal colleagues and external stakeholders
  10. how to construct a roadmap that highlights the activities and milestones required for achieving the vision and goals for the new venture
  11. the implications of the venture for operational processes and systems in the organisation
  12. the barriers and challenges that established ways of working in the organisation may present to the success of the new venture
  13. the strategies required to address any challenges and opportunities in relation to the vision and goals of the new venture

Scope/range


Scope Performance


Scope Knowledge


Values


Behaviours


Skills


Glossary


Links To Other NOS


External Links


Version Number

1

Indicative Review Date

01 Mar 2027

Validity

Current

Status

Original

Originating Organisation

Instructus

Original URN

CFAENTI&TA5

Relevant Occupations

Business, Administration and Law, Managers and Senior Officials

SOC Code

2441

Keywords

vision; goals; enterprise venture