Business

This paper makes a detailed study of the mission and vision statements of four Fortune 500 companies and differentiates the good and the bad mission and vision statements for the readers easy understanding. The paper firstly, discusses the good and then the bad statements and then suggests the way these statements could be modified and presented before the stakeholders such that the message is clear and the strategy of the companies are well defined.

Corporate mission statement is a short, candid declaration of what the company is about and throws light into the its daily functions in a succinct manner. The vision statement on the other hand is intended for what the organization would like to become in the future. In order to understand what a mission and a vision statement is we must first of all carefully study what they state. In the below given two examples of Fortune 500 companies namely FedEx Corporation and Siemens we have a clear picture of a good mission and vision statement.

FedEx Corporation Mission Statement
FedEx is committed to our People-Service-Profit Philosophy. We will produce outstanding financial returns by providing totally reliable, competitively superior, global, air-ground transportation of high-priority goods and documents that require rapid, time-certain delivery.

Siemens Vision Statement
A world of proven talent delivering breakthrough innovations. Giving our customers a unique competitive edge enabling societies to master their most vital challenges and creating sustainable value.
In the above cases the statements are very well written and without any sort of ambiguity such that it is possible for all stakeholders to understand where the strategy, policies and future plans of the company are aimed at. In the first case of FedEx Corporation we see the emphasis on the People-Service-Profit motto of the organization. This is quite true in the real sense of the term where FedEx has rightfully placed the people as its first priority followed by Service and last only the profit motive. In fact, this is enthusiastically followed in practice by each and every employee at FedEx. The profit motive of the business is made clear in the following sentence which states that FedEx Corporation will produce outstanding financial returns by making it certain that it would cater to every individual customers need for superior, reliable air-ground transportation at any corner of the globe within the stipulated time. In fact, FedEx deliveries are made the very next day. Thus, the mission statement stands as a symbolic representation of the facts that FedEx as a parcel delivery system would stand for both in the eyes of its employees and other stakeholders. In order to create a positive image and in course of time, a good reputation a company must successfully communicate its goals and wishes to all stakeholders (Balmer and Greyser, 2003).
       
In the case of Siemens Vision statement the same is very succinctly put before the employees and the outsiders. Here, the vision statement has clearly put forth the strategic initiative to look beyond the present and visualize a world of tomorrow where there is abundance of proven talent of which Siemens would undoubtedly harness and pave way for breakthrough technologies giving customers a competitive edge by purchasing their capital goods. It would further lead communities to take bold steps to counter challenges by creating value for them on a sustainable basis. All this is quite clear and candidly stated for even the common man to understand and hence forms the best part of the vision of the company. This sort of agreeableness with its inherent traits of warmth, empathy and integrity forms the most crucial dimension of corporate personality (Davies, et al,. 2003).
               
The following is the bad example of a corporate mission and vision statement.
Exxon Mobil Mission Statement
Exxon Mobil Corporation is committed to being worlds premier petroleum and petrochemical company. To that end, we must continuously achieve superior financial and operating results while adhering to the highest standards of business conduct. These unwavering expectations provide the foundation for our commitment to those with whom we interact.

The statement has been stated with enough clichs and quite vague as far as the ordinary stakeholder is concerned. It should be pointed out here that the statement has no bearing on the companys present position. However, being a statement that informs the stakeholders about the company may have left a lot to be filled. Firstly, everyone is quite sure about the business and that is petroleum, but that it must achieve superior financial and operating results and adhere to the standards of business is mere jargon in the eyes of the stakeholders. It would have been better if the statement provided a concrete stand on the mission of the company like as given hereunder.

Exxon Mobil Corporation is committed to being in the forerunner in the race for energy self sufficiency. To this end, we must harness the internal and external resources to enable the highest quality and innovative methods of giving our very best to the consumers both in the form of petrochemical products and petroleum.

Here, in the given recast there is no vagueness and its goals are for energy self sufficiency where ever it operates. If it goes along this step then to a large extent it meets its financial obligations and makes profits automatically. There is an element of certainty in the second statement when compared with the first. Achieving certainty in business processes like forecasting, execution, production and results is what all organizations aspire and becomes their intended goal (Welborn and Kasten, 2003).
The next is the bad vision statement example of Chevron and the same is detailed below.

Vision Statement of Chevron
To 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 partners of the choice. Deliver world class performance. Earn the admiration of all stakeholders-investors, customers, host governments, local communities and our employees-not only for the goals we achieve but know we achieve them.
       
Here, we see the vision statement is rather pompously displayed without anyone having any clear idea as to what it means. Human development and sustainable economic progress are not specific and seen as generalized. Again partners of the choice and deliver what  World class performance of what And getting admiration all around is everyones motive not for Chevron alone. Hence, a lot of ambiguity has crept into the statement which could have been avoided. The vision statement could be recreated in the following way.

Chevron has visions to be the solution provider for the energy need for mankind on a sustainable basis in the long run.

This is a short and succinct vision statement and also exhibits a culture of its own. The vision is clear and puts the company before the people as a long term solution provider. According to Farfield-Sonn you need to articulate a vision that embraces quality for the long run success of the organization and to promote a cultural mindset (2001).