Essay Sample on Formulating Vision Statements: A Vital Step for Companies' Success

Many big companies find it difficult to formulate god vision statements that are supposed to boost their development in terms of selling their products. Proper vision statement account greatly for a company's reputation. The public view various companies differently depending on the idiosyncratic vision statement that various companies formulated. It is thus upon the various administrators to see unto it that the vision statements of their companies are in line with the respective companies' long term objectives. Entrepreneurs should bare in their minds the big four questions that a good vision statement should portray. Any mission statement should answer the core questions of what the company is offering, how the company is offering its services, the targeted audience and the impact the company has on the consumers. Additionally, entrepreneurs should avoid being vague when formulating their vision statements.

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The mission statement of Advanced Auto Parts, Inc. is highly synchronized because it clearly identifies the major objectives of the company. As a company that is accountable for the provision of customers with vehicles and other services which include solving out various vehicle problems and repair works, the company has laid emphasis on what they are offering to the public and the impacts of its services to the customers and community at large. However this mission statement does not indicate the ways in which the company is going to be delivering its mandated chores. The Lincoln Financial Group on the other hand has been voted as one of the companies with an outstanding vision statement. Their vision statement appeals to the wishes of the community and the community are convinced about the services that the Lincoln Group claims to be providing. The group has earned a five star rating because the vision statement addresses and answers all the four questions that Hull wishes a vision statement to address.

Lincoln Financial Group has a very precise vision statement that only majors on the core services that are being offered in the group. The language used in the vision statement is also very clear and easy to understand unlike some of the companies that have vague languages in their vision statement. Apparently, the group has earned the highest rating as compared to the other organization's' vision statement because of its vision statement promises a bright future to the members of the public. The group also states the mechanism to be employed in achieving this objective. The question that demands a vision statement to highlight what it is doing has been tacked effectively by Lincoln Financial Group. The group's vision statement suggests clearly that it is committed to providing its customers with the life insurance, retirement and investment products and services they need to maintain their quality life. Arriving at such an ideal objective may not be a walk in the park and so the Lincoln Group gives a blueprint on how it purpose to meet this goal.

Lincoln vision statement remains to be an outstanding vision among many vision statements. However, the group can modify its vision statement to suit all the requirements of the big four questions. Lincoln's vision statement does not address the impacts that their programs are to make on those that are partakers of its services. For this reason the vision statement could be rewritten as "Lincoln Group is a committed to providing its customers with life insurance, retirement, and investment products and services they need to maintain their quality of life. As a concerned corporate citizen, the company's foundation has sustained a strategic philanthropic program to improve the quality of life in the communities where our employees live and work. This initiative is meant to curb the poor living condition of our employees and provide a substantial life for them."

References

Hull, P. (2013). Answer 4 Questions to Get a Great Mission Statement. Retrieved 3 November 2019, from https://www.forbes.com/sites/patrickhull/2013/01/10/answer-4-questions-to-get-a-great-mission-statement/#6b085a3667f5