Evaluate the strategic implications of product-oriented and customer-oriented vision statements.
■ Product-oriented vision statements define a business in terms of a good or service provided.
■ Customer-oriented vision statements define business in terms of providing solutions to customer needs.
■ Customer-oriented vision statements provide managers with more strategic flexibility than product-oriented missions.
■ To be effective, visions and missions need to be backed up by hard-to-reverse strategic commitments and tied to economic fundamentals.