BUS500 Leadership Theory: Chapter 4 - Leadership and Vision

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BUS500 LEADERSHIP THEORY
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Contents
Chapter 4: Leadership and Vision and case example......................................................................3
Q1. Is vision just a dream?..........................................................................................................3
Q2. How can you create a vision that all stakeholders will share?..............................................4
Q3. How can you ensure that people throughout the organization understand and are
committed to the vision?..............................................................................................................6
Q4.Should the vision be attainable or not quite attainable?........................................................7
Q5. How could Generics Group’s vision have been sustained?..................................................8
Reference.........................................................................................................................................9
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Chapter 4: Leadership and Vision and case example
Q1. Is vision just a dream?
A vision statement can be simply defined as an ambitious explanation of what an enterprise
would like to attain or accomplish as its long term or short term plan. Thus, it can be said that
vision used to define the optimal wished future state which is nothing but a mental picture of
what a company wishes to achieve in a specific period of time. On the contrary, dreams can be
considered as an excellent visual image of the potential future, but it is generally a wish, nothing
more than that. Vision is a dream but comprises of an actual purpose and meaning. This purpose
inspires the organization to attain such dreams. In simple words, it can be said that the reason for
being a company in the corporate world (Kopaneva & Sias, 2015). Normally, it is the thing that
makes the corporation keep moving or going. Therefore, it can be stated that a vision without
action is just a dream since action without any vision just passes and wastes the time. If a firm
will have a vision with action, then they will have the capability of changing the whole world in
an effective manner. As per the case study, The Generics Group is having a vision of earning
money with the help of technology. In order to achieve or accomplish this vision, the company is
also having some plans and strategy. They had invested around over 40 firms in different areas
like materials engineering, telecommunications, and biotechnology. This was keeping their
vision alive irrespective of converting them into a dream. They were employed around 250
workers only but despite this, they have earned more than £220 million in the year 2000. Thus,
firstly their vision has converted into a mission or a purpose and then into certain aims &
objectives or action plan. Thus, the company is having a dream that transformed or turned into a
vision of making a huge amount of profit through modern technology.
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Q2. How can you create a vision that all stakeholders will share?
A vision should be created by considering the views and opinions of all the stakeholders. Thus,
the Generics Group should consult all of its stakeholders before creating a vision. There are some
proper steps of creating a vision that can be shared amongst all the stakeholders. The company
should follow below-mentioned steps:
 Creation of a compelling and shared team vision: The managers of Generics Group
should create a convincing and mutual vision by arranging a meeting. The meeting is
important since it allows all the team members and shareholders to represent their ideas
and concerns related to the vision of the corporation.
 Honestly discuss the existing reality: In the meeting, the senior management and
administration should describe the reality associated with the firm’s position. This will
help in deciding about what should be taken as a next move for the venture so that growth
and development of the company can be carried on. If any reality would remain hidden
from the eyes of team members and stakeholders, then they may not reach the correct
decision or conclusion and would create an inappropriate vision (Madu, 2013). It may
give a negative impact on the performance of the whole venture. Therefore, this is
important to the Generics Group to reveal the actual face of their corporation in front of
their staff members along with other stakeholders so that no confusion would create in
the future.
 Creation of strategies and actions to move forward: After discussing the company’s
current situation, the next step that should be taken by the Generics Group is to develop
an effective strategy and actions. Such strategies would make in such a manner so that
they helps the firm in moving forward. These plans of action should be made by taking
the opinions of all the members existing in the meeting so that all of them will get
convinced by the final decision.
 Planning for improvement and communication: The next step is to create a plan for
moving correctly as per the created vision and strategy. In order to take a correct and
appropriate move, it is necessary to communicate each and every fact related to vision as
well as the created strategy to everyone including workers, stakeholders, shareholder,
senior administration, etc. For communication, Generics Group can take help of modern
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applications like social media (i.e. Facebook, Whatsapp, Twitter, Messenger, etc.) as it
helps in sharing information to all members at a single platform. This is also quite
inexpensive and will also help in saving time as well (Awareness, Center & Education,
2015).
 Personal commitments: This is important for the Generics Group to put themselves in
the vision and start living the same. The predetermined specific actions & goals need to
be identified by each member of the company so that all of them can support the same
and give their contribution in accomplishing or attaining the same. Without this step, the
shared vision cannot be actually implemented and remain a dream for the venture.
Thereby, it is very important for Generics Group to follow this last but not the last stage.
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Q3. How can you ensure that people throughout the organization understand and are
committed to the vision?
This is better to ensure that associates performing within the corporation is understanding and is
being committed to the vision. This can be ensured by following below listed points:
Employee Engagement and Satisfaction is high: The assumption of understanding and
commitment to the vision can be done by examining the high level of employee engagement and
the satisfaction level (Calder, 2014). If the workers are quenched by the created vision and are
being engaged with the attainment of that vision, then Generics Group can ensure that their
workforces are committed to the made vision.
 Vision is shared through multiple channels: The manager or administration of the
Generics Group ought to share the information related to vision through several multiple
channels like social media platform, telephone, text, emails, verbal and direct
conversation, giving notice, etc. After that, it will be obvious that the vision is being
shared amongst all the people working in the organization.
 People can see the “Greater Good” the vision creates: The Company can be assured
that their workforces are contributing or showing commitment towards the created vision.
This can be ensured by showing the people that their predetermined vision would create
better outcomes which would be fruitful for both the venture as well as the employees
(Taiwo, Agwu, & Lawal, 2016). Generics Group should consider this statement and
should assure that its staff members are welcoming the vision or not.

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Q4.Should the vision be attainable or not quite attainable?
Vision should be realistic in nature i.e. it can be attained effectively no matter how much labor or
hard work is needed for attaining the same (Muir & Dornyei, 2013). If it would be unrealistic or
illogical, then workers may also do not show their interest in working in the same direction. If
despite this, the work would be carried on then it would be only the wastage of precious time.
For example, according to the case study, the vision of Generics Group was logical and realistic
as well. They want to increase their income level by taking the help of technology. This is
possible and it would be easy to work on this vision.
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Q5. How could Generics Group’s vision have been sustained?
The vision of the Generics Group is to create wealth through technology. They have begun the
work by investing in around more than 40 enterprises of different areas i.e. biotechnology,
material engineering, and telecommunications. In addition to this, the workforces were also
working together for achieving the planned vision. IEB (Innovation Exploitation Board) was also
involved in this process. It simply refers to a large committee of personnel existing all over the
nation who used to discuss technology and opportunities related to business attained by the
Generics Group. By examining this situation of the company, it can be said that Generics Group
can sustain their vision by creating a motivational environment at the workplace. This can be
done by offering rewards, promotions and incentive plans to the staff members. If management
would give such an opportunity of career growth, then it is obvious that their workers will
continue the labor towards the vision (Stoner, 2014). In addition to this, the company needs to
arrange training and development sessions to their workforces in order to resolve issues
occurring while the attainment of vision. This will also create a feeling of enthusiasm in the
employees as they would not get irritated by facing several problems. The company also needs to
arrange an interactive session where the managers need to interact through each personnel on a
personal basis. This would help in knowing about the issues that are being faced by the workers.
Hence, the corporation needs to resolve all such problems on a priority basis in order to satisfy
them effectively.
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Reference
 Stoner, J. (2014). How to Create a Shared Vision That Works | Jesse Lyn
Stoner. Seapoint Center for Collaborative Leadership. Retrieved 22 March 2019, from<
https://seapointcenter.com/how-to-create-a-shared-vision/>
 Muir, C., & Dornyei, Z. (2013). Directed motivational currents: Using vision to create
effective motivational pathways. Studies in Second Language Learning and
Teaching, 3(3), 357-375.
 Calder, W. B. (2014). Achieving an Institution's Values, Vision, and Mission. College
Quarterly, 17(2), n2.
 Taiwo, A. A., Agwu, M. E., & Lawal, F. A. (2016). Vision and Mission in Organization:
Myth or Heuristic Device?. The International Journal of Business & Management, 4(3),
127.
 Madu, B. C. (2013). Vision: The relationship between a firm's strategy and business
model. Journal of behavioral studies in business, 6, 1.
 Awareness, P., Center, I. L., & Education, P. T. (2015). Mission and vision statement.
 Kopaneva, I., & Sias, P. M. (2015). Lost in translation: Employee and organizational
constructions of mission and vision. Management Communication Quarterly, 29(3), 358-
384.
 Mayfield, J., Mayfield, M., & Sharbrough III, W. C. (2015). Strategic vision and values
in top leaders’ communications: Motivating language at a higher level. International
Journal of Business Communication, 52(1), 97-121.
 J. Gouillart, F. (2014). The race to implement co-creation of value with stakeholders: five
approaches to competitive advantage. Strategy & Leadership, 42(1), 2-8.
 Freeman, R. E. (2016). Ethical leadership and creating value for stakeholders. In Business
ethics: New challenges for business schools and corporate leaders (pp. 94-109).
Routledge.
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