Assignment Based on Evaluation of Three Company's Vision Statement and Ranking the Same

Assignment Based On Evaluation of Three Company's Vision Statement and Ranking the Same

BUS 525 - 4 - spring 2017 - Session 4 - Cohort 3

- Professor Nino

West Cliff University

18/03/2017

Abstract

With reference to the given assignment, I studied the three company's websites and annual reports and also evaluated the vision statements mentioned in the question. I ranked the vision statement of three companies named Wells Fargo, Hilton Hotels Corporation and BASF. After completing my evaluation, I ranked Hilton Hotels Corporation Vision Statement as No. 1 because I found it as a strongest one in compare to two other given company's vision statement. Though Hilton Corporation's short comings are not forward-looking and not distinctive, but its statements are quite directional, focused, feasible and desirable.

On the other hand BASF Vision Statement is strategically weaker among all three. As its vision statement fails in mentioning where the company wants to be in the next few years or so. BASF states that they are 'The Chemical Company' but did not sounds bold in respect of vision like how to get, what to set, where or when the company is going to get their strategic objective goals.

Keywords:        Analysis of Vision Statements of Wells Fargo, Hilton Hotels Corporation and BASF listing                 the effective elements and shortcomings of the same companies.

Analysis of Vision Statements

The foundation of a business is called as vision. Creating it is a very delicate part of a business. For success of any organization the foremost factor needed is creating a strong vision. An organization's existence is all of due to its presence because vision is the very purpose that generates values, innovate inspiration and also creates a real essence in an organization.

Rank 1 - Hilton Hotels Corporation

The strongest vision statement among three given companies is of Hilton Hotels Corporation as because its vision is clear from the very first line of its statement that they want to be the first choice of the world's travelers. The vision statement highpoints the company's decision making factor that besides demonstrates that the statement is focused. Also, the graphic element which Hilton explicates in its vision statement disclose clearness and direction while it states “Hilton intends to build on the rich heritage” and stating this the vision statement do plan the reason of notable existence, the statement also gives an impression of the establishment of a sense of direction through the striking factor. Furthermore, the statement also reflects feasibility because of its clear demonstration. Apart from all above effective elements the statements do seems desirable and easy to communicate.

Nevertheless, the chief inadequacies of the given vision statement is that it's not distinctive and the statement rather sounds like mission statement. It means the statement declares the principles of Hilton Hotels operation and general objectives which seems vision statement less than mission statement.

Rank 2 - Wells Fargo

In the given vision statement of three companies, Wells Fargo has four effective element in its list still it ranks higher than the BASF which has also four effective elements. Well Fargo wants to satisfy all of their customer's financial needs and be the premier provider of financial services which does not seems to be stating a sound vision. Effective element of Wells Fargo is its graphic, feasible and desirable factor and through its vision statement it is understandable that though there is no pretended focus and difference, within 10 minutes its services and concept are explainable. Therefore, it's easy to communicate.