A vision statement is better known as a company’s road map providing information of the company’s goals and how it is going to achieve them (Wikipedia). In the Business Dictionary states that a vision statement must be clear and give …show more content…
- A vision statement can be vague or incomplete. This happens when the organisation does not give a full understanding of what the company’s goals are and how they are going to achieve them. SodaStream’s vision statement is considered to be slightly vague as it does not give specifics nor does it provide any details of how it’s going to get there or what resources it will use to achieve these goals.
- A vision statement can be too broad which means that no set road maps are identified. It can be used in any industry or for any product. This is not the case for SodaStream as they are focused on the beverage industry.
- A vision statement can be bland or uninspiring as it does not provide excitement or encouragement to staff so that they can buy into the concept. Shareholders must also feel confident and positive that their investment will or has good potential for growth.
- SodaStreams vision statement can be consider to be not forward looking which in essence means that it does not state how the company will make this change. They mention a new product but they don’t elaborate how the product will be made. Will management focus on new technology or will they focus on customers or will they focus on different …show more content…
According to the business dictionary a mission statement should mention the core purpose and focus of a business.
In research done by Bartkus, Glassman and McAfee (2005) who found that some elements in mission statements did not have a direct impact on an organisation’s financial performance Sidhu (2003) however found that mission statements could lead to an organisations performing exceptional.
Mission statements have three important components as identified by Pearce & Robinson (2009) being product/service, market and technology. An organisation uses one or more of these components to differentiate itself from other organisations and thus outsmarting its rivals. Pearce and Robinson (2009:27-36) have identified that there are more components that can be taken into consideration in a mission statement which includes profitability, customers, the organisations philosophy, public image and