Part Two: Vision Statement Critique Any good vision statement makes choices betw
ID: 361315 • Letter: P
Question
Part Two: Vision Statement Critique
Any good vision statement makes choices between alternatives. For example, if your vision places you in the Traditional and Low End markets, you implicitly plan to give up High End, Size, and Performance markets.
The Critique looks at what you are giving up, and at the threats you face. You are comparing the potential of your vision against alternatives. Prepare an essay section (1-page) that explores these issues. Here are a few questions that might help to develop your thoughts.
1) How likely is it that competitors will choose a similar vision to the one you have selected? Be aware they are working with the same information as you.
2) Does your vision require significantly more investment than alternatives?
3) Is your vision difficult to execute? For example, does it require a broad product line? Heavy investment? Many segments? If it is more difficult to execute than alternatives, that could be good or bad. You might offer a few words on the trade-offs. What risks are present in each market location?
4) How long will it take to execute your vision relative to other plans?
5) Consider growth rates. Over all, the market will grow 150% over the next eight years, but the growth is uneven between regions. Is your vision attractive for, say, the first four years, and less attractive in the last four years?
Explanation / Answer
Focussing on Traditional and Low End markets, does not mean that one should forget the high end markets. Exploration and innovation is a never ending process for any successful business man. The main point is to focus on current scenario with full dedication and the success is on her way.
It is quiet possible that competitors will choose a similar vision to the one you have selected and for such kind of scene one has to make multipleplans to keep your competitor guessing about your real strategy. besides this plan A and Plan B should be there if Original plan fails. It means one should be having 3 plans ready at same time to interchange when and if needed. By following this, one can remain ahead from his competitors. They might be working with the same kind of information that I have but there should be a difference in approach. Like a game of chess if you are strong then be more alert then you was before and if you are weak, you must be attacking to look stronger then before. Bottom line is to show confidence in any case. Winners are those who always plans one step ahead but it does not mean to take your enemies lighter. You should create insight sources which can give you required information about the other company but beware that they might also have resources in your company too.