COMM 305 Study Guide - Dietitian, Peer Pressure, Asset Turnover
Document Summary
A well-conceived vision requires 2 components: core ideology and envisioned future: core ideology (values and purpose) : needs to be inspirational to people inside the organization. To solve unsolved problems to help leading companies to be more successful . Companies do not change core value in case of market change: envisioned future: 10-30 year audacious goals (bhag), has to be realistic but innovative. Vivid descriptions of what it be like to achieve the goal. Merck"s bhag: transforming from a chemical manufacturer to one of the biggest drug companies in the world. Henri ford : no man will ride horses and everybody, even the poor, will own my cars . Winston churchill: europe will be free if we stand up to hitler. Raising our profit by 20% is not a core purpose or a core value. We"re arrived syndrome: they reached their goals, but they don"t know what to do next.
