Vision Statement In the article on "Goals and Goal Setting" we had mentioned about the confusion that prevails in people regarding Goals, Mission Statement, Vision Statement, Objective and Signature. Goals are specific and always measurable, missions are a statement of intent and objectives are of a strategic nature. Vision is a statement of the long term goal of a company. A signature is a small tagline that normally indicates the company's core competence or values or both.
In some organizations the "Quality Policy" is also mixed up with either Vision or Mission Statements. This confusion started with ISO quality certification process which became popular in the 1990s. The Vision statement has to be developed separately in a workshop with participation of all concerned and take a holistic view.
Some people quote the famous Pepsi statement "Beat Coke" as an example. Probably "Become the number one soft drink company in the world" would be better.
Microsoft said ‘A computer on every desk’. In terms of various criteria for a vision statement this comes closest.
Sir John Harvey Jones vision for ICI, '21st Century Chemical Company, today' is one of the best examples.
Sir Colin Marshall's vision for BA, as the 'The world's favorite airline' is a good statement. Has it been achieved? However, how far it has been achieved or not, is a matter of debate, especially after the 2005 strike by the workers, in sympathy with the sacked workers of a catering company.
(Note added on October 11, 2007 - The Fortune ranking by industry in March 2007 puts British Airways 4th after Continental Airlines, Singapore Airlines and Lufthansa. It is ranked just before the KLM Group. However, we rate KLM Group better than BA)
Jan Carlzon's vision for the Scandinavian Airline System, 'the preferred airline of the business traveler' is extremely focused on a market niche.
Jack Welch's vision that GE should be "Either number 1 or 2 in any business it is in" is a powerful statement. The limitation is that it focuses on size or volume. GE is in engineering, financial services, project management, lighting, aircraft engines, locomotive, turbine manufacturing, TV Broadcasting and refrigeration. Whew. It has decided to hive off its engineering plastics business for $ 11 billion recently. It is the second most valuable brand in the world. It is a highly diversified conglomerate and it is always difficult to arrive at a vision statement for such giant and highly diversified companies. It remains the most admired company in the world.
A vision statement should have an achievement orientation which cannot be easily done by ordinary mortals. Jan Carlzon knew that SAS could never become the biggest or the most favorite airline of the world. Similarly, it would be downright foolish of any OS Developer to have the vision of becoming bigger than Microsoft. A vision is not a wild day dream. Linux is good but it is difficult to dethrone a well entrenched player like Microsoft.
A vision statement which is not simple and understandable is of no use. Lofty statements also are of no use and sound idealistic in a highly commercial world.
The vision statement should not focus on money, as it leads to adopting short cuts. Money is a by-product of good values. Finally, a vision statement not linked to principles and values does not last long, even if achieved.
© May 2007. www.madgopes.com. All rights reserved.
To learn more about this author, visit Madhavan T Gopalachary's Website.
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Madhavan T Gopalachary
(Visit Madhavan's Website)
Madhavan Gopalachary, nick name "madgopes"
(g pronounced as in go) given by IIT
classmates, is a Mechanical Engineer and
an alumnus of Indian Institute of
Technology, Madras having passed out
specializing in IC Engines &
Thermodynamics.
He has nearly 35 years of experience in
the Corporate World. He started off as a
trainee and handled sales, marketing,
manufacturing, product management, profit
center management, strategic planning and
corporate development including R & D in
various organizations and at various
levels before becoming a CEO. His last two
professional assignments were at CEO level
before embarking to start management
consultancy business on January 01, 1998.
He has worked for British, Swedish MNCs as
well as very large Indian business houses.
He has spent a large portion of his time
from June 1998 till date in East African
Countries practicing as an independent
Management Consultant.
More details can be obtained at the
following web sites:
mmg.name/
mtg.html
mmgconsu
lting.biz/
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