Question

Describes what a company desires to achieve in the long-run, generally in a time frame of five to ten years, or sometimes even longer. It depicts what the company will look like in the future and sets a defined direction for the planning and execution of corporate-level strategies.

Mission statement
Value statement
Vision statement

Answer 1

The phrase describes a vision statement, a future-focused declaration that directs a company's long-term objectives and strategic planning.

Step-by-step explanation:

The phrase in question describes a vision statement, which outlines what a company aspires to achieve in the long-term, usually within a five to ten year timeframe or even longer. This vision sets a forward-looking direction for the company, guiding the development of comprehensive corporate-level strategies. The vision is what the company envisions its future to look like, a strategic 'north star' that influences long-range planning and decision-making. It is a critical component in the overall strategic planning process and serves as inspiration and motivation for the workforce, stakeholders, and shareholders.