Business Strategy

Introduction

For any business to perform well, it has to have a suitable strategy. This is because any business today has a lot of competitors. In order to attain success, they have to go that extra mile. This is aided and inspired by the strategies and the visions that the business has set. Therefore, there should be no flaws in the set vision. This helps it to have goals that help in its growth and success.

Ranking and Critique of the Strategic Vsions

H. Z. Heinz Company

In comparison to all the other business strategies, this is the best. It is specific in its statement since it states the actual intents of the company. It specifies that the company intends to provide nutritious foods to its customers. It does not specify the types of foods that it will provide. This makes it more flexible should the consumer preferences change in time. If the consumers’ view of nutritious food changes, the vision would still apply. These are fundamental requirements of a vision (Bossidy 2002). Therefore, this is the best stated vision of all the seven in question.

The Red Hat

This business vision is also well stated and suitable for the company. Therefore, it is ranked second. It specifies the steps that are to be undertaken in order to realize the set goals. Therefore, it is distinctive and only applies to the company. It is also precise and straight to the point. This makes it easy to review.

Hilton Hotels Corporation

The vision of this company has been well stated since it has highlighted some of the steps underway. However, it has been lengthened by goals that are not specific. This includes delighting of customers. It should state how the company intends to delight the customers. This denies it the chance to be the best stated vision of the seven in question.

EBay

This business has a clear vision which explains in short terms what the business is all about. However, it lacks the details necessary to inspire and motivate its workers as well as customers. It should have something more to motivate the parties involved.

Dental Products Division of 3 M Corporation

This vision only states the company’s intent to be the best. It does not state how it intends to achieve this. Instead, it only states that the employees will wear badges to identify with the greatness of the company. It should be more forward looking and specific (Mintzberg 1994).

Wells Fargo

The vision of this business is ranked sixth. Even though it is not the worst, it requires massive improvement. This is because it lacks the specificity required in a vision. It does not state the steps that the company intends to undertake in order to satisfy the customers’ financial needs. It overly depends on superlatives since it just states that the company wants to be one of America’s greatest.

Caterpillar

This is the business strategy that requires most improvement. It just states that the business wishes to be the global leader in customer value. It is not a distinctive vision since it can be used by any other business. This is an exceptionally broad vision and it cannot help in the decision making of the management. It only relies on superlatives instead of stating the actual things the company intends to do (Davenport 2007). It also lacks inspiration to both customers and employees. Therefore, it requires the most improvement.

Conclusion

All these businesses have visions for their future success. However, the magnitude of success is mainly determined by the quality of these visions. Therefore, it is crucial for a business to have a suitable statement of its visions. This motivates the customers and ensures business success. That is why some businesses are more successful than others.