Importance of Vision and a Visionary Leader Linking to an Organisation

JAMES COOK UNIVERSITY

MASTER OF BUSINESS

LB5215 STRATEGY AND LEADERSHIP

RESEARCH TOPIC

Question: If vision is important, why do analysts and commentators sometimes criticize a new CEO's emphasis on formulating a vision for a company that is struggling to survive? Discuss.

Name: Namit Jain

Student No: 12618117

Lecturer: Mr Frankie Yee

Word count: 2447

Declaration:

Except where I have indicated, the work I am submitting in this assignment is my own work and has not been submitted for assessment in another course.

1. Executive Summary

This report will discuss about the importance of vision and a visionary leader linking to an organisation. It tells about how vision influences the survival of a struggling company. Further debating over the fact of formulating a vision for a company struggling to survive. The vision statement is important and communicates both the purpose and values of the organization. For employees, it gives direction about how they are expected to behave and inspires them to give their best. The main aim of vision statement is to influence and motivate the organisation.

Discussion about this is particularised in different headings. The introduction of the report will include the research background, the limitations of the report, the sources and methods in data collection and the report organisation. Next, the report will give an overview on what is vision and includes the role that vision plays in a company under struggling circumstances and also the challenges faced by the company.

It will be further followed by the discussion of the factors that affect the vision and working of a company and the outcome and further explaining the role of a newly appointed CEO and how his leadership can turn around the future of the company in either a positive way or negative way.

TABLE OF CONTENTS

* 1.EXECUTIVE SUMMARY

* 2 INTRODUCTION

o 2.1 Research background

o 2.2 Limitations of the report

o 2.3 sources of data collection

o 2.4 Report organisation

* 3 OVERVIEW

o 3.1 Importance of vision

o 3.2 purpose of vision

o 3.3 Communication of vision

o 3.4 attaining of vision

o 3.5 cons and pros of vision

* 4 STRUGGLING COMPANY

o 4.1 characteristics of a struggling company

* 5 DISCUSSIONS

* 6 CONCLUSION

* 7 REFERENCES

2. Introduction

2.1 Research background

The objective of this report is to analyse and elaborate the importance of vision for a company and the visionary leader, and the outcome for the company and the leader following the vision in the struggling times. The topic was researched and fragmented down showing the various aspects and discussions, giving the reader a clear and precise overview of the various challenges and problems faced by the visionary leader and his role for a company in struggling times.

2.2 limitations of the report

This report has been collaborated to highlight the importance of vision and a visionary leader linking to a company in various situations. However, there was very less information about the latest trends about companies in the latest years and most of the authors had written mostly the same about vision. And not much of latest examples based on the topic were available either in books or on world wide web.

2.3 The Sources and Methods of Data Collection

All research material used has been obtained from qualified authors. Various books from national and university libraries with partial usage of the World Wide Web data were utilised for the development of this report. The report is enriched with the best possible references and articles as for the right conclusion.

2.4 The Report Organisation

The research report is presented in accordance with the unit outline which has an introduction, followed by the discussion section, which outlines the key headings that relate to the topic. The topic is than concluded with a conclusion and references to confirm the researcher's topics.

3. Overview

3.1 Importance of vision for a company

A vision is a picture or an idea that one has about himself or for an organisation or company which a leader wants to happen or going to happen in the future. A vision helps to pursue goals and achieve dreams and a clear vision helps in opening the mind for the endless possibilities of the future. (burke, 2009)

A vision helps a leader (CEO) and his company to overcome the obstacles on the way and show the strength in hard times. A well-defined vision helps the leader to focus and create a sense of purpose for the company for the benefit of the whole.

"Honda sample vision statement"

1970: We will destroy Yamaha

This strong and bold vision statement of Honda is very effective though the statement is short but it means everything, to the employees. This statement explains that Honda wanted to overtake the Yamaha's in the field of motorbikes.so Honda can do their best in every field to grow their business and beat the Yamaha.

The company or the leader who doesn't have a vision doesn't know where they want to be, who they want to be and how they want to be. Due to lack of vision they lack the drive and just face the timeless upcoming events which affect the whole organisation in a negative way due to which it has to struggle hard. (beyer, 1999)