The Five Vision Statements

The Five Vision Statements presented for discussion follow:

1. QatarTelecom (Qtel):

Vision Statement: “To be among the top 20 telecommunications companies in the world by 2020.”

This is a telecommunications company located in the state of Qatar and provides both fixed and mobile telecommunication services. The company has been a monopoly until recently when a new competitor (Vodafone) was allowed to enter the market. Qtel has a presence in 17 countries, and is committed to expansion both in the Middle East and North Africa region and South East Asia. In total, the company provides coverage to a population in excess of 560 million people, with 57.5 million consolidated subscribers. The company claims that it “has a strong vision and strategy to offer consumer mobile, consumer broadband, and corporate managed services to its customers across Middle East and North Africa, the Indian Subcontinent, and South East Asia.”

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Vision Statement: “To improve the way people live and work”.

Telstra is also large a telecommunications company located In Australia. Nonetheless, this organisation operates in a more competitive environment than that of Qtel (mentioned above) and despite generating some income from overseas operations, its main source of income is from local operations and the company does not seem to have ambitious plan of expansion globally.

3. Westpac Banking Corporation (Westpac).

Vision Statement: “to be the leading financial services company in Australia and New Zealand. Putting the customer at the centre of everything we do will help achieve this goal.”

Westpac is a financial services organisation and is one of the big four banks of Australia. Its main operations and core business being banking solutions, it currently has around 10 million customers. The company claims “its strategic priorities are particularly centered on improving our distribution and customer offerings.”

4. Commonwealth Bank of Australia (CBA)
Vision Statement: “to be Australia’s finest financial services organisation through excelling in customer service.”

CBA is currently the largest bank in Australia in terms of market capitalization. The organization claims that it “aspires to:

  • have people that are engaged, passionate and valued
  • provide a service experience our customers appreciate
  • deliver top quartile returns to our shareholders
  • be respected and admired in our community.

5. Qatar Islamic Bank (QIB)

Vision Statement: “A leading, innovative and global Islamic bank adhering to the highest Shari’a and ethical principles; meeting international banking standards; partnering the development of the global economy and participating in the advancement of the society”.

QIB is a mid sized bank founded in 1982 in the State of Qatar. It is currently the largest and leading “Islamic bank” with market share of over 51% of the local Islamic market and around 10% of the general banking industry in the state. It is also amongst the top five Islamic financial institutions (in terms of assets) globally with subsidiaries and affiliates in UK, Malaysia, Lebanon, Indonesia, Syria. The bank has an ambitious expansion plan and is currently finalizing negotiations to expand to France, Turkey and Libya

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