MERITS AND ADEQUACY OF VISION STATEMENTS

Vision statements should be properly structured, with concise information to ensure that they relay the intended information. A vision statement should not be vague in meaning, should not be wordy and needs to be easy to understand. The paper, therefore, gives an insight of the required threshold in ensuring that a company’s vision statement relays the intended information. The paper analyses the vision statements of the three companies and gives a critique of the effectiveness in regards to the set threshold. Wells Fargo has a vision statement that gives an information about the activities of the company, what they intend to offer to their customers and their long-term goals. The vision statement is objective and directional. The company in its vision statement briefs on the changes the corporation intends to adapt to ensure it sustains a suitable product-market-customer-technology change.

The corporation’s goals through its vision statement seem feasible. For example, the company can ensure it promotes teamwork and team building amongst its members. Another feasible strategy that the company can implement is increasing the shareholders’ value. That is an important aspect as most of the investors would want to invest in companies where profits are assured. The company in its vision statement is also distinctive. The business entity identifies itself as ‘The chemical company’ and that distinguish it from other business offering the same products. Such aspect is important as it ensures the company dominates the market by edging out competitors from loyal customers. In addition, the company’s vision statement is also easy to understand and interpret (Harrad &Smith, 1997).