I’m not too positive about ‘visioning’ in business, even for non-profits where it is much more common.
My experience has been negative. In several non-profits, the visioning preceded a disaster within a year. One non-profit disaster was where the general manager was embezzling. In another case, the leader was having sex with the staff. It finally blew-up.
In the case of a giant profit making bureaucracy the visioning preceded a set of lawsuits about the ethical subjects that came up in the ‘visioning’.
My guess is that people were asking for ‘visioning’ because they sensed a serious structural problem that was taboo or too difficult to approach through classic ‘in-house’ chain of command approaches.
Commerce is 100% empirical. Responding to the market, changes in the market, and trends are what keep a business alive. The responses to the market must be sensitive, with plenty of marketing research, feedback and metrics to examine.
If someone wants to call that ‘visioning’ it is fine with me. However, that type of behavior is inherently built into good management, with plenty of informal staff bull sessions, mixing of management from top to bottom and open lines of protected ‘channels for honest reporting’.