Page 30 - DCOM506_DMGT502_STRATEGIC_MANAGEMENT

Strategic Management

Notes In Table 2.1, many writers have presented their views on the key elements that constitute a good
vision.
Table 2.1: Characteristics of a Good Vision

Jock Kotter Metais Johnson El-Namaki
Clear and Imaginable— it It is a It visualizes Coherence—It
concise conveys picture of dream—it a future aim integrates the
Memorable what future will provides It is company
look like emotional strategy and
Exciting and involvement contributed the future
inspiring Desirable—It from a
appeals to long- It is variety of image of the
Challenging company
term interests of excessive— sources
Centered on stakeholders, for and not It implicates Translatable—
excellence example, attainable the need for It is
Both stable employees, within people with translatable
and flexible customers, current specialist into
Achievable stockholders actions or skills meaningful
and tangible Feasible—It resources It can be company goals
embodies realistic, It is communicat and strategies
attainable goals deviant—it -ed easily Powerful—It
Focused—It breaks It has a generates
provides guidance conventiona powerful enthusiasm
in decision l thinking motivational Challenging—
making and frames effect It is challenging
of reference
Flexible—It is It serves an for all
general enough to important organizational
enable individual need participants
initiative and It is aligned Unique—It
alternative with the distinguishes
responses to values of the company
changing prospective from others
environments Feasible—It is
supporters
Communicable—It realistic and

can be explained achievable
in five minutes Idealistic—It
communicates
desired
outcome

2.2.4 Importance of Vision

Having a strategic vision is linked to competitive advantage, enhancing organisational
performance, and achieving sustained organisational growth. Clear vision enable firms to
determine how well organisational leaders are performing and to identify gaps between the
vision and current practices. Organisations preparing for transformational change regularly
undertake “envisioning” exercises to help guide them into the future. The visioning process
itself can enhance the self-esteem of the people who participate in it because they can see the
potential fruits of their labours.

Conversely, a “lack of vision” is associated with organisational decline and failure. As Beaver
argues “Unless companies have clear vision about how they are going to be distinctly different
and unique in adding and satisfying their customers, they are likely to be the corporate failure
statistics of tomorrow”. Lacking vision is used to explain why companies fail to build their core
competencies despite having access to adequate resources to do so. Business strategies that lack
visionary content may fail to identify when change is needed. Lack of an adequate process for
translating shared vision into collective action is associated with the failure to produce
transformational organisational change.

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