'That Vision Thing'—The Key to Sustainable Competitive Advantage

Leaders who fail to be visionaries do not remain leaders long. TQM, core competencies, reengineering, and self-directed teams have all become buzzwords to describe processes that are ostensibly essential if technologically based industries are to achieve sustainable competitive advantage. However, the tools must take a back seat. The key to competitive advantage for companies is not to begin by trying to integrate the outputs of the tools into a whole but exactly the opposite: Leaders must begin by defining and then communicating a clear, integrated vision of the company - its direction and goals.