Evaluating a Company Vision Statement
Evaluating a Company Vision Statement
A vision statement helps to define what an organization’s purpose is. That is similar to the mission statement, but instead of directing the statement towards the company’s bottom line the statement is sculpted more towards the company’s values. This gives employees direction on how they are expected to behave and perform and it also gives customers an understanding of why they should work with the company (Mission Statements and Vision Statements, n.d.). Halliburton Energy Services is considered one of the leading competitors in the oil and gas service industry. Their vision statement is “To be the preferred upstream service company for the development of global oil and gas assets” (Halliburton, 2011). This statement shows that they want to not only compete nationally and globally, but they also want to be viewed as the preferred vendor of service for the oil and gas industry. They currently have a long way to go as they lag far behind the industry giant Schlumberger. Therefore, this vision statement does lack qualities in the specific direction that Halliburton wants the company to strategically move. Do they want to overtake Schlumberger in everything, or just focus on one thing at a time? There are many facets to the oil and gas industry and just saying that they want to be the preferred service company really does not give employees or customers a clear, concise look at what the company wants to do into the future.
A good vision statement is distinctive and specific to an organization. There should be no statements that could apply to any organization (Thompson, Strickland & Gamble, 2009). The current Halliburton vision statement seems to lack some focus on exactly how they are going achieve their desired direction of the company and it seems to be a catchall generic statement. It seems that there may be a need to rewrite the vision statement as Halliburton is already recognized as a global leader in the oil
A vision statement helps to define what an organization’s purpose is. That is similar to the mission statement, but instead of directing the statement towards the company’s bottom line the statement is sculpted more towards the company’s values. This gives employees direction on how they are expected to behave and perform and it also gives customers an understanding of why they should work with the company (Mission Statements and Vision Statements, n.d.). Halliburton Energy Services is considered one of the leading competitors in the oil and gas service industry. Their vision statement is “To be the preferred upstream service company for the development of global oil and gas assets” (Halliburton, 2011). This statement shows that they want to not only compete nationally and globally, but they also want to be viewed as the preferred vendor of service for the oil and gas industry. They currently have a long way to go as they lag far behind the industry giant Schlumberger. Therefore, this vision statement does lack qualities in the specific direction that Halliburton wants the company to strategically move. Do they want to overtake Schlumberger in everything, or just focus on one thing at a time? There are many facets to the oil and gas industry and just saying that they want to be the preferred service company really does not give employees or customers a clear, concise look at what the company wants to do into the future.
A good vision statement is distinctive and specific to an organization. There should be no statements that could apply to any organization (Thompson, Strickland & Gamble, 2009). The current Halliburton vision statement seems to lack some focus on exactly how they are going achieve their desired direction of the company and it seems to be a catchall generic statement. It seems that there may be a need to rewrite the vision statement as Halliburton is already recognized as a global leader in the oil
References: Halliburton. (2011). Mission and Vision Statements. Retrieved December 14, 2011 from http://www.halliburton.com/aboutus/Default.aspx?pageid=4538. Mission Statements and Vision Statements. (n.d.). Retrieved December 15, 2011 from http://www.mindtools.com/pages/article/newLDR_90.htm. Thompson, Jr. A.A., Strickland III, A.J., & Gamble, J.E. (2009, March). Crafting and Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases (17) (Vital Source Bookshelf), Retrieved from http://digitalbookshelf.argosy.edu/books/0077441184/outline/Root.