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Strategic Management - Essay Example

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A vision statement is always prepared by keeping in view the overall core competencies of the firm and what firm can actually do better than others. Based on…
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This article is important in suggesting that a vision of the company need to be based upon solid foundations of the firm. A vision ment is always prepared by keeping in view the overall core competencies of the firm and what firm can actually do better than others. Based on this idea, a vision is set to achieve measurable as well as achievable goals. The combination of the vision and mission of the firm therefore is critically important to provide a certain sense of direction for the firm.
This article does suggest that that vision of the firm should not be changed frequently and the firm should focus upon doing what it is best at. Changing circumstances of the firm and more volatile external environment therefore should not force the firm to change its direction so often. The overall problem with Mentor Graphics therefore seems to be lack of focus on achieving the vision rather than setting the right vision. The article rightly points out that the firms need a broader vision and this vision should than be trickled down to other strategic business units of the firm also. However, it is critical that the same vision becomes part of the very culture of the organization and every employee and stakeholder of the firm must own it.
Vision therefore needs to be consistent and all the goals and objectives of the firm should be focused and derived based on the shared vision of the firm rather than attempting to achieve something other than what organization actually wants. Read More
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