Scenario: Part 1

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Scenario: Part 1

Part 1

Owen manages the product development group at InfoMed, a small, public company that creates information resources for the healthcare industry. InfoMed is struggling financially, and Owen is trying to think of ways his group might help revive sales. Owen has an idea for a new product: an online resource containing up-to-date information on healthcare providers, which people could consult while selecting health insurance plans.

This resource would represent a new direction for InfoMed and would involve substantial investment and risk. Yet Owen believes it could succeed ;if he can get enough support behind his vision. Excited, he researches the potential market and prepares to present his idea to his group and other key InfoMed players.

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Besides explaining how the product would work, how might Owen express his vision?

Explore all the choices.

"If we give it a chance and all pull together, I believe this product would put InfoMed at the top of our industry within four months after its release."
Not the best choice. This vision may be inspiring, but it isn't realistic. As a small, struggling company, InfoMed isn't likely to rise to the top of its industry in just four months by introducing any new product. Also, it's unrealistic to expect Owen's team to develop the new product's content quickly enough to realize that vision—given that the product represents a completely new direction for InfoMed. An effective vision should touch people's core needs for achievement, recognition, and belonging. However, if it can't easily be translated into a realistic competitive strategy, people won't know how to make the vision real.
"My research suggests that introducing this product next year could boost our revenues by 30%, make us known on Wall Street, and improve consumers' lives. Of course, we would all have to work together to make this happen."
Correct choice. This vision paints a clear and compelling picture of how the new resource would benefit all major stakeholders: InfoMed employees, investors, and customers. It's also expressed in easy-to-understand terms. Finally, it's realistic and achievable. An effective vision is a leader's most important motivational tool. You should refer to your vision often, explaining its relevance to various audiences as you work to keep them on board.
"InfoMed needs to enter this market if we hope to make value-added contributions to the emerging consumer-driven healthcare industry. If we can start production rollout soon, we'll gain first mover advantage."
Not the best choice. This vision is vague and contains uninspiring jargon ("value-added," "emerging consumer-driven healthcare industry," "first mover advantage"). An effective vision is easy to explain and understand—even if implementing it will be a complicated process. If a vision is unfocused and overly complex, people won't understand it—and they can't support what they don't understand. When crafting a vision, use plain but inspiring language. Explain how the new product or idea would work, and how key stakeholders—employees, investors, and customers—would benefit.

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