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Hurd and Nyberg (2004)Management > Organisational Knowledge and Information Systems > Lectures > Independent Research > Hurd and Nyberg > Turbulent Market Strategy > Vision
Vision"A company is truly global when every person who deals with it, internally and externally, sees one single version of the truth" A successful vision is one that is aspirational, inspirational and specific enough to be understood by all stakeholders of a firm. In large corporations, fragmentation and inertia are common foes to the implementation of a vision. A continual flow and integration of information is required to create a single version of the truth and help keep the firm dynamic. The old fashioned way of attaining and maintaining a single version of the truth was to centralise power in a top-down hierarchy of decision-making. This breeds fear and distrust and inhibits success. Today, information and power are to be spread throughout the company, a necessity in the "cut throat global economy". The pace of change in the market is increasingly rapid, meaning information needs to be available and renewable anywhere and everywhere in the business. A careful balance needs to be struck between encouraging free-thinking in subsidiaries and achieving a unified vision, transparent operations and good communications throughout the business. The aim of the firm should be to "centralise goals, democratise decisions".
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