The paper "Strategic Planning and Management" is an outstanding example of a management assignment. The first major problem with Company X’ s vision statement is that it targets earning its shareholders more money and increasing the value of their investment. In other words, the vision is all about what the company can do for itself, rather than what it can do to its target market. Another problem with Company X’ s vision statement is that it is too long. Ideally, a vision statement should be short, concise, and easy to remember.
While it is easy to remember the vision statement that Company X has, it is arguably not for its brevity or good content; rather, it would be because it targets making money, something that other businesses would intend to be the result of satisfactorily serving the needs of their customers. While it is common knowledge that every profit-making business has an intention of growing the business, controlling the assets and structuring the balance sheet in a manner that ensures that the business gets a return on its invested capital, the details do not have to go into the vision statement.
Company X has described what its profit motives are, while in reality, a vision statement indicates where the company hopes to be in the future. Ideally, the vision statement should focus on the outcomes – for instance by indicating that the company hopes to become the largest distributor of quality and affordable computers in the region. Company X’ s vision statement has also failed the simplicity test. It is too long and too detailed. The company could for example rectify this by indicating that it intends to get a computer in every office in the region.
The foregoing example is simple, yet clear on what the company seeks to achieve. The use of initials EPS is also unnecessary in the vision statement, especially because the vision statement is supposed to be easy to decipher. Coded language would, therefore, force the same employees that the vision statement is supposed to guide, to go searching for meaning.