Using the criteria in Chapter 2 (Table 2.2 on page 25 in the 23rd edition), critique the following vision statements listing effective elements and shortcomings. Rank the statements form best to worst once you complete your evaluations. (Show your work.) Tesla: To create the most compelling car company of the 21 st century by driving the world's transition to electric vehicles. Disney: To be one of the world's leading producers and providers of entertainment and information. Microsoft: To assist individuals and businesses throughout the globe fulfill their highest potential. KFC: To provide food in a quick, pleasant setting that caters to cost-conscious, healthconscious people Characteristics of Effectively Worded Vision Statements Graphic-Paints a picture of the kind of company that management is trying to create and the market position(s) the company is striving to stake out. Directional-Is forward-looking; describes the strategic course that management has charted and the kinds of product-market-customer-technology changes that will help the company prepare for the future. Focused-Is specific enough to provide managers with guidance in making decislons and allocating resources. Flexible-is not so focused that it makes it difficult for management to adjust to changing circumstances in markets, customer preferences, or technology. Feasible-1s within the realm of what the company can reasonably expect to achieve. Desirable-Indicates why the directionat path makes good business sense. Easy to communicate-1s explainable in 5 to 10 menutes and idealy. can be reduced to a simple. memorable "slogon" (ike Henry Ford's tamous vision of "a cat in every garage"). Source: Based parpy on Johap kotec teodvo Chonge paraid suvests soool press. 1996) Common Shortcomings in Company Vision Statements Vague or incomplete-short on specifics about where the company is headed or what the company is doing to prepare for the future. Not forward-looking - Does not indicate whether or how management intends to alter the company's current product-marketcustomer tectisology focus Too broad-So all-incluswe that the company could head in most any direction, pursue mast any opportunity, or entermost any business? Btand or uninspiring - tacks the powor to mofivate compary persoente or inspire shareholder confidence about the compary's direction. Not distinctive-pjovidesno vidue company decntik colld ipely to companies it any of several begond the paisit of