Fortune 500 Vision Statements

A Study of the 2005 Fortune 500

Vision Statements

Authors : Bart Kasowski and Louis Jacques

Filion

Working paper n° : 2010-04

April 2010

ISSN : 0840-853X

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A Study of the 2005 Fortune 500 Vision Statements

Bart Kasowski

Louis Jacques Filion

Summary

This study confirms the lack of consistency with regards to the use of vision statements

by leading corporate firms, as well as with regards to the content of these types of

statements. In reviewing a select group of leading U.S. companies listed in the Fortune

500 2005, we observed that only 154 of the 500 firms provided clearly-identified vision

statements and that only 37% of these vision statements addressed four of the essential

elements of a vision: that it be specific and realizable, involve change, be future looking

and identify a market space.

Introduction

While the business world is awash in vision statements, mission statements and

statements of purpose, there is relatively little of consistency when it comes to the content

of such statements. Many firms claim to have a vision for their organization, but it is

often clear that their vision statements don’t actually convey what that vision is. For this

study, we have identified four criteria for evaluating a vision statement and used these

criteria to evaluate the vision statements of several hundred leading U.S. firms.

The criteria we established are the following:

 A vision statement is future looking.

 A vision statement identifies a market space.

 A vision statement is specific and realizable.

 A vision statement involves change.

For our analysis, we used these four criteria to evaluate the...