Chapter 2: Vision - Leadership for Success

Vision is the strategic underpinning of any success. More than simply a road map to company strategy, vision is the philosophy of corporate leadership. The strength and clarity of our vision will dictate its success. The best corporate vision becomes part of a company s DNA, but first it is part of the leaders DNA. As Ghandi said, Be the change you want in the world.

Envision the future of your industry and get there first.

Act Global

Vision is global. Myopia equals mediocrity . As successful executives we have to create and foster a global mentality ”a global vision and a global strategy.

Global used to mean multinational. Not anymore. The definition has expanded. It is not about how many countries a company operates in. A global company is one that collaborates effectively across the entire organization, whether worldwide or in one country.

A company is truly global when every person who deals with it, internally and externally, sees one single version of the truth.

The global success of any vision depends upon the consistency with which the vision is applied across operations. The more we, as leaders of our companies, pay attention to core operations the more opportunity we have to support our vision.

Business success is as much about profits as it is about ethos and philosophy. The core of a company s operations is the culture embodied in the leadership vision. Cultural change needs to happen to empower employees , partners , suppliers and customers. Only then will a company have one vision and one team to make it a reality.

As leaders, our priorities and values set the tone for the rest of the organization. Creating more value from existing resources, constantly improving productivity, steadily increasing return on investment, and ensuring a controlled, no- surprises environment. From strongly supported institutional values, everything else follows naturally.

We talk about vision a lot, but what is it?

A vision is the stated strategic intent of a company, the strategic blueprint for managing now and into the future and changing industry rules. Vision is the foundation on which leaders build control over operations and ultimately create value across the enterprise. Top organizations are the best in their class because they have one idea, one vision originating from the leaders that is central to every decision made throughout the organization.

Charles Schwab

Charles Schwab understands the need for leadership vision. Some years ago, Schwab, who then ran a small upstart brokerage established in the 1970s, committed himself and his company to providing the highest levels of customer service possible, more channels to choose from and more flexibility. Charles Schwab s personal commitment to that vision provided the drive his company needed to put it at the top of its industry. On the way he created new industry standards that forced the old established firms to rethink their business models.

 

A slogan is not a vision. Saying we want to make money and sell product is not a vision. Saying we want to be the best is not a vision ” best at what? A successful vision is aspirational , inspirational and specific enough to be easily understood by all the stakeholders in a company ” employees, customers, investors, partners and the market.

AMR Research, Inc.

Bob Parker, Vice President of Enterprise Commerce Management Strategies at AMR Research, Inc., highlights four highly successful companies, whose single specific focus (their vision ) enabled them to achieve leadership positions in their markets.

• Dell Computer s motto be direct sums up Dell s whole ethos ”direct to customers, direct with each other internally and direct with suppliers externally.

• Wal-Mart s everyday low prices informs every move the company makes.

• Charles Schwab empowers individual investors like no investment company did before it.

• FedEx is worldwide on time and has set the standard to which its competitors must rise.

 

Where does vision come from? It comes from understanding the intricacies of the particular industry in which a company operates. It comes down to information. The more a company s leaders know about the business they re in, the better able they are to set goals that can take their organization into the future. Leaders who understand their company s financial operations, customer s needs, supplier and partner relationships and what motivates employees will be the leaders to envision the future of their industries.