In addition to your CLA2 (Nordstorm & Walmart), please prepare a PowerPoint presentation summarizing your findings for CLA2. The presentation will consist of your major findings, analysis, and recomme

Introduction,

The vision of any company aims at communicating the goals that will maintain the competitive advantage of the company. Often, the business environment tends to be dynamic and thus the company vision ought to be designed in a manner that enhances its ability to adopt the changes. Vision of a company is a crucial element as it demonstrates how the company tends to serve the specific market segment and the level of differentiation of the company from its competitors which will drive the company to attain a particular competitive advantage (Collins & Rukstad, 2008).

Wells Fargo.

Effective elements

Easy to communicate, even though the vision does not have focus and direction the services provided are quickly explainable in a very short amount of time and could also be limited to a memory slogan which is simple.

Shortcomings

Vague

The vision is unable to specify any company in the industry can use the product that they are planning to venture into hence the vision. Lack of specification of a particular business field would usually make it easier for other companies even to use the mission statements. The implication here helps draw insights of how merely crafting a vision statement cannot result into profitability (Kim & Mauborgne, 2009).

Not Distinctive

The vision does not provide any special services that are different from its competitors. The implication here is that there is nothing unique on how the mission aims at demonstrating the specificity of the company.

Uninspiring

The company's vision lacks motivation and inspiration which can attract more investors, and maintain shareholder’s confidence in the company.

Too broad

The statement of the vision may apply to any business organizations because of its generic nature. Many of the businesses around, aim at increasing their value which is pretty much the vision that might be used for any company. This furthermore, does not promote anything unique in the company.

Hilton Hotels Cooperation

Effective elements

Graphic

The vision statement gives a picture of the type of company which they intend to provide and the position of the market they are to build. Hilton directs its vision to the particular market segment and thus tends to stand out. This means that the company can therefore, be in a position to stand out from what their rival firms are doing (Porter, 1996).

Desirable

The plans of the hotel are lucrative to the employees and their interested parties. This means that most people will be interested in participating in the activities of the company. This therefore, appeals to the concept of functional area strategy that is a particular function or process within the business.

Focused

The specificity of vision allows managers to effectively allocate resources and make a prompt decision affecting the company. The implication here is related to the company’s vision strongly associated with the business model of the company. Therefore, the company can deliver and at the same time generate profits from the proceeds of the activities as stated in the vision statement (Johnson, Christensen & Kagermann, 2008).

Directional

Its ability to describe the type of products and strategic plans that will be helpful to the company’s future development as far as market and technology is concerned. Furthermore, there is the use of a balanced scorecard that integrates the vision as well as the financial performance of the business (Richardson, 2004).

Shortcoming

Not forward-looking

It lacks a specific time span to accomplish its vision by failing to indicate management strategy over the same.

BASF

Effective elements

Flexible

The company can adjust its management course with the changes in the market, customers, product and technology. Changes are significant especially with regards to this kind of industry which means that the company will be able to avoid many of the pitfalls that might result in resisting change.

Graphic

The vision can bring out the company position in the market that it's striving to attain. This means that in a broader outlook one can determine that it is a chemical company that aims at promoting changes and at the same time build a brand. It shows the company’s effort to engage in doing things in a better way or looking for opportunities to do new things (Garvin & Levesque, 2006).

Shortcoming

Not forward-looking, does not specify the amount of time the management would take to adjust market, customer and technology development.

The ranking from best to worst.

1. Hilton Hotels

2. BASF

3. Wells Fargo

The order of ranking is based on the total of active elements less the number of shortcomings.

Conclusion

Hilton Hotels tend to have the best vision statement among the three because of the level of effectiveness as demonstrated in their vision statement. This is so because the company’s vision statement tends to target a specific market segment, and thus enhances the level of differentiation. However, the other two companies’ vision statements are generic and thus does not demonstrate what really the company is offering.

References

Johnson, M.W, Christensen, C.M & Kagermann, H. (2008). "Reinventing Your Business Model" Harvard Business Review Retrieved from

https://hbr.org/2008/12/reinventing-your-business-model

Porter M.E. (1996). "What Is Strategy?" Harvard Business Review Retrieved from https://pdfs.semanticscholar.org/62a5/6cb47ec0a181da67358662446ab7d544c01f.pdf

Collins, D & Rukstad, M.G. (2008). "Can You Say What Your Strategy Is?" Harvard Business Review. Retrieved from

https://hbr.org/2008/04/can-you-say-what-your-strategy-is

Richardson, S (2004). "The Key Elements of Balanced Scorecard Success, Ivey Business journal. Retrieved from http://members.home.nl/j.s.sterk/AQM/KeyelementsofBalancedScorecardsuccess.pdf

Garvin, D.A. & Levesque, L.C. (2006). "Meeting the Challenge of Corporate Entrepreneurship," Harvard. Busi1ness Review Retrieved from

https://hbr.org/2006/10/meeting-the-challenge-of-corporate-entrepreneurship

Kim, W.C. and Mauborgne, R. (2009). " How Strategy Shapes Structure," Harvard. Busi1ness Review Retrieved from

https://hbr.org/2009/09/how-strategy-shapes-structure