The Vision Statement is a foundational element of an organization's strategic plan, articulating its long-term aspirations. Its development is a primary responsibility of the highest level of leadership. Executive Management, led by the CEO, is typically tasked with crafting and championing the vision. The Board of Directors provides critical oversight, ensuring the vision aligns with the organization's mission, values, and the interests of its stakeholders. They often challenge, refine, and ultimately approve the final statement. This collaborative effort at the top ensures the vision is both ambitious and grounded in the strategic realities of the organization.

A. Senior Management: This is too general. While executive management is part of senior management, this option omits the crucial governance and approval role of the Board of Directors.

C. Line Manager: Line managers are focused on the execution of tasks and the management of daily operations; they implement strategy but do not create the overarching organizational vision.

D. Middle Manager: Middle managers are responsible for translating the high-level strategic vision into tactical and operational plans for their specific departments, not for its initial development.

1. Lipton, M. (1996). Demystifying the Development of an Organizational Vision. Sloan Management Review, 37(4), p. 83. The article emphasizes that the process must be leader-driven, stating, "The CEO is the key player in the process... The CEO must be the prime mover, the chief architect, the lead visionary." This directly supports the role of Executive Management.

2. Nadler, D. A. (2004). Building Better Boards. Harvard Business Review, 82(5), p. 104. This article discusses the evolving role of corporate boards, stating, "The board’s most important role is to participate with management in shaping the strategy of the company." The vision is the cornerstone of this strategy, confirming the Board's involvement.

3. Bain & Company. (2018). Mission and Vision Statements. Management Tools & Trends. Retrieved from Bain & Company official publications. The guide states, "The most effective mission and vision statements are developed with the full participation of the senior executive team." It further implies the board's role in strategic endorsement. (Note: While a consulting firm, Bain's publications are widely cited in academic and business contexts for management principles).