critique the adequacy and merit of the following vision statements, listing effective elements and shortcomings. Rank the vision statement from best to worst once you complete your evaluation. Be sure to see the class handouts on this topic first. Vision Statement Effective Elements Shortcomings Wells Fargo We want to satisfy all of our customers’ financial needs, help them succeed financially, be the premier provider of financial services in every one of our markets, and be known as one of America’s great companies. Hilton Hotels Corporation Our vision is to be the first choice of the world’s travelers. Hilton intends to build on the rich heritage and strength of our brands by: • Consistently delighting our customers. • Investing in our team members. • Delivering innovative products and services. • Continuously improving performances • Increasing shareholder value. • Creating a culture of prides, • Strengthening the loyalty of our constituents. H. J. Heinz Company Be the world’s premier food company offering nutritious, superior tasting foods to people everywhere. Being the premier food company does not mean being the biggest, but is does mean being the best in terms of consumer value, customer service, employee talent, and consistent and predictable growth. Chevron To be the global energy company most admired for its people, partnership, and performance. Our vision means we: • provide energy products vital to sustainable economic progress and human development throughout the world; • are people and an organization with superior capabilities and commitment; • are the partner of choice; • deliver world-class performance; • earn the admiration of all our stakeholders—investors, customers, host governments, local communities, and our employees –not only for the goals we achieve but how we achieve them. The Dental Products Division of 3M Company Become THE supplier of choice to the global dental professional markets, providing world-class quality and innovative products. (Note: All employees of the division wear badges bearing these words, and whenever a new product or business procedure is being considered, management asks “Is this representative of the THE leading dental company?” Which vision statement did you like the best and why? What vision statement did you like the least and why?

critique the adequacy and merit of the following vision statements, listing effective elements and shortcomings. Rank the vision statement from best to worst once you complete your evaluation. Be sure to see the class handouts on this topic first. Vision Statement Effective Elements Shortcomings Wells Fargo We want to satisfy all of our customers’ financial needs, help them succeed financially, be the premier provider of financial services in every one of our markets, and be known as one of America’s great companies. Hilton Hotels Corporation Our vision is to be the first choice of the world’s travelers. Hilton intends to build on the rich heritage and strength of our brands by: • Consistently delighting our customers. • Investing in our team members. • Delivering innovative products and services. • Continuously improving performances • Increasing shareholder value. • Creating a culture of prides, • Strengthening the loyalty of our constituents. H. J. Heinz Company Be the world’s premier food company offering nutritious, superior tasting foods to people everywhere. Being the premier food company does not mean being the biggest, but is does mean being the best in terms of consumer value, customer service, employee talent, and consistent and predictable growth. Chevron To be the global energy company most admired for its people, partnership, and performance. Our vision means we: • provide energy products vital to sustainable economic progress and human development throughout the world; • are people and an organization with superior capabilities and commitment; • are the partner of choice; • deliver world-class performance; • earn the admiration of all our stakeholders—investors, customers, host governments, local communities, and our employees –not only for the goals we achieve but how we achieve them. The Dental Products Division of 3M Company Become THE supplier of choice to the global dental professional markets, providing world-class quality and innovative products. (Note: All employees of the division wear badges bearing these words, and whenever a new product or business procedure is being considered, management asks “Is this representative of the THE leading dental company?” Which vision statement did you like the best and why? What vision statement did you like the least and why?

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

Vision Statement	Effective Elements	Shortcomings
Wells Fargo We want to satisfy all of our customers’ financial needs, help them succeed financially, be the premier provider of financial services in every one of our markets, and be known as one of America’s great companies.
Hilton Hotels Corporation Our vision is to be the first choice of the world’s travelers. Hilton intends to build on the rich heritage and strength of our brands by: • Consistently delighting our customers. • Investing in our team members. • Delivering innovative products and services. • Continuously improving performances • Increasing shareholder value. • Creating a culture of prides, • Strengthening the loyalty of our constituents.
H. J. Heinz Company Be the world’s premier food company offering nutritious, superior tasting foods to people everywhere. Being the premier food company does not mean being the biggest, but is does mean being the best in terms of consumer value, customer service, employee talent, and consistent and predictable growth.
Chevron To be the global energy company most admired for its people, partnership, and performance. Our vision means we: • provide energy products vital to sustainable economic progress and human development throughout the world; • are people and an organization with superior capabilities and commitment; • are the partner of choice; • deliver world-class performance; • earn the admiration of all our stakeholders—investors, customers, host governments, local communities, and our employees –not only for the goals we achieve but how we achieve them.
The Dental Products Division of 3M Company Become THE supplier of choice to the global dental professional markets, providing world-class quality and innovative products. (Note: All employees of the division wear badges bearing these words, and whenever a new product or business procedure is being considered, management asks “Is this representative of the THE leading dental company?”

Which vision statement did you like the best and why?

What vision statement did you like the least and why?

Definition Definition Arrangement between two or more people whereby they agree to manage business operations and share its profits and losses in an agreed ratio. The agreement drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, and drawings of a partner.

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