What is vision in SAP EPM-SM - Strategy Management?

SAP Term: vision

• Component: EPM-SM

• Component Name: Strategy Management

• Description: A concise statement that defines the mid- and long term direction of theorganization. The vision is the summary statement of how the organization wants to be perceived by the world. The statement is external or market-oriented, and stated in visionary terms.

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• Key Concepts: 
  SAP EPM-SM Strategy Management is a tool that helps organizations to define, align, and execute their strategies. The vision component of this tool allows users to define the long-term goals and objectives of the organization. It also helps to identify the key areas of focus and the strategies that will be used to achieve those goals. 
  
  How to use it: 
  The vision component of SAP EPM-SM Strategy Management can be used to create a clear and concise vision statement for the organization. This statement should include the organization’s purpose, values, and long-term goals. Once the vision statement is created, it can be used as a guide for setting strategies and objectives. 
  
  Tips & Tricks: 
  When creating a vision statement, it is important to ensure that it is clear and concise. It should also be aligned with the organization’s values and goals. Additionally, it should be reviewed regularly to ensure that it is still relevant and up-to-date. 
  
  Related Information: 
  SAP EPM-SM Strategy Management also includes other components such as objectives, measures, initiatives, and projects. These components can be used in conjunction with the vision component to create an effective strategy for the organization. Additionally, SAP EPM-SM Strategy Management can be integrated with other SAP solutions such as SAP ERP or SAP HANA for a more comprehensive strategy management solution.