The purpose of the study is to provide a background for describing and explaining organizational vision statements. The corporations selected were on the 2019 Fortune 500 list. Of that list, the researchers specifically looked at all revenues, net profits (as percentages), and vision statement word counts for the Fortune 50 companies—for 2019. The study also looked at the vision statement word counts for all Fortune 500 companies whose net profits were equal to or greater than the top performing Fortune 10 companies—for 2019. The findings show that the top 10 of the Fortune 50 companies have, on average, lower vision statement word counts than the rest of the firms—except for one segment (31 – 40). These same 10 companies, had, on average, lower vision statement word counts than the other 39 Fortune 500 companies studied (i.e., who had a net profit of equal to or greater than the top performing Fortune 10 companies—for 2019). The researchers believe that a vision statement is an important tool for every organization, and it should play a significant role in the long-term operation of any business. A well-crafted vision statement can provide the focus and motivation to take your business to the next level—it should be easy to remember and it should inspire and motivate everyone.
schaap, James and González, Angel F.
"Are the Vision Statements of Fortune 50 Companies Convincing? You Can Make That Decision.,"
Southern University College of Business E-Journal: Vol. 16:
1, Article 5.
Available at: https://digitalcommons.subr.edu/cbej/vol16/iss1/5