Vision and Mission statement of the organizations
Discuss about the CSL Limited and Macquarie Group.
In the present competitive business environment, organizations have to go through huge amount of challenges in order to remain competitive in the market. In addition, employees have to adapt changes in the business environment due to changing structure of global business environment. The present business environment is inducing many organizations from all across the world to introduce innovative ideas and technologies for remaining competitive in global market. In this report, the focus will be on strategies of the management of two companies namely MACQUARIE GROUP and CSL. The objective of the research report is to compare and contrast the vision, mission, strategies and CSR between the organizations. The report will try to evaluate different strategies utilized by the organization to remain competitive in the market. The CSL is regarded as the speciality biotherapeutics organization that prepares and serves advance biothereapties to save lives (CSL Limited is a global biotherapy industry leader, 2016). On the other hand, MACQUARIE deals with financial services that have its presence in more than 25 countries. The organization is focusing on the long-term profitability to satisfy all the stakeholders.
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Comparison Of The Vision, Mission, And Corporate Social Responsibility (CSR) Of CSL And Macquarie Group
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The vision of MACQUARIE is to evaluate the opportunities for the benefit of its people, customers and stakeholders (Macquarie Group, 2016). The prime focus of the company is on the profit level. The company has its presence globally. As a result, it has to include different factors for maintaining the profit level at the desire level. The expertise of the organization covers capital as well as advisory market. MACQUARIE has consciously aligned its vision with the services they provide such as fund management, trading, retail services and financial services. The organization utilizes a diverse operation process so that it can able to implement robust risk management procedure. This actually has huge amount of contribution for maintaining persistent profitability for 47 years. The prime aim of MACQUARIE is to provide stakeholder returns and long-term profitability. The company also focus on maintaining desired standard of corporate governance (Zollo, Cennamo and Neumann, 2013). Furthermore, the mission of the organization is to obtain sustainable value for the shareholders over continues arrangement of the interest of the stakeholders.
On the other hand, CSL is more focused about the quality and safety level of the services that they provide to save life of the people. The organization conduct extensive research for developing range of support services so that the company can able to fulfil all the commitments. The mission of the company highlighted that the company is focused towards providing high quality biotherapies and services. CSL aims to gain trust of the customers through providing high quality services. The organization also focuses on addressing all the needs of the people. CSL also aims to help patients so that they can able to enhance the quality of their life. Furthermore, CSL innovate and implement unique ideas in order to use advance technology to enhance the quality and safety of the services.
Values of the selected companies
MACQUARIE values focus on the utilization of the possible opportunities so that the people who are involved with business such as shareholders and customers can able to receive benefit from it. The approach of conducting business based on three unique long-term principles.
Integrity: MACQUARIE’s reputation heavily depends on the level of trust of its colleagues, shareholders and community through providing high quality work
Accountability: The company is accountable for maintaining all its actions for the community, customers as well as stakeholders. The company has able to enhance its reputation through the quality of services it provides to the customers. MACQUARIE also takes all the responsibility for its action.
On the other hand, CSL takes pride in providing the effective and safe services and products. The company runs this superior quality business process by adhering to its core values of the organization. CSL’s core values focus on the innovation, collaboration, integrity and excellent performances. The company tend to follow the standards of ethics at the time of completeing the operation. CSL is committed to maintain transparency in its communication level so that it can able to fulfil all the requirements of patients. CSL also combined with group of patients who utilize services of the organization. As per the article by Driessen and Hillebrand (2012), innovative ideas can help organization to deal with diverse experience of working together.
The CSR of CSL:
As per the article by TSENG and PENNING-ROWSELL (2012), CSL is performing its social responsibility in order to maintain the ethics properly. The company not only focuses on the economical benefit of the company but also provide huge amount of focus to maintain proper environmental condition. CSL acts responsibly to maintain sustainability of the organization. In addition, CSL focuses on to align its corporate responsibility with the organizational goals and objectives. CSL also align objectives of the organization with CSR to provide benefits to all its stakeholders. The organization always tries to satisfy all its diverse range of stakeholders in order to perform all its social responsibility (Kang and Hackman, 2012). However, several areas are there regarding corporate social responsibility that CSL focuses to maintain its social responsibility effectively. The company is always keen to develop new medicine to fulfil increasing requirements of the customer. However, the company always tries to keep maintaining the quality level so that it can actually help patients a healthy life. Furthermore, the organization supports all the local biomedical communities by providing greater access to its different types of therapies so that they can able to support the patients effectively (Willcocks, 2013). CSL also focuses on to conduct campaign so that society can able to maintain cleanliness.
Corporate Social Responsibility (CSR)
The CSR of MACQUARIE:
In case of MACQUARIE, performing the corporate social responsibility is very essential for maintaining the reputation of the organization. It has been identified that MACQUARIE focus on the social, governmental rules in order maintains its social responsibility. The company also takes different types of initiatives to maintain its ethics in a proper manner. The CSR structure of MACQUARIE revolves around the focus area and it is also regarded as the core resources of the business.
In case of CSL, stakeholder involvement is regarded as the basis of corporate social responsibility. The company has mentioned the key stakeholders as investors, employees, government, patient group, healthcare professional and business partners. On the other hand, MACQUARIE group has mentioned stakeholders as clients, investors, employees, regulators, wide community and suppliers (Buck and DeLawyer, 2012). MACQUARIE group utilize open and very clear communication line with the analyst, shareholders and investors. Furthermore, the organization also tries to engage itself through the international as well as domestic seminars, road shows and conference.
Figure 1: CSL’s Stakeholders
(Source: Šmakalova, 2012)
CSL’s stakeholder engagement could include many activities like provision of the information to the different health service providers so that they can utilize it for the educational purpose (Beringer, Jonas and Kock, 2013). This can actually help many patients to recover from several health problems. Furthermore, CSL focuses on stakeholder engagement so that the company can actually able to fulfil its objective. On the other hand, MACQUARIE group support vibrant and strong democracies and informal contribution in writing as well. Moreover, both the organization is focusing the vendor management in order to maintain proper relation with its suppliers.
Figure 2: MACQUARIE group Stakeholders
(Source: Wagner Mainardes, Alves and Raposo, 2012)
SMART objectives analysis:
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SMART
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Examples
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Specific
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From the above analysis, it can be assess that CSL includes a vast range of activities for the stakeholder engagement. CSL also utilize different mechanism according to the prime objective of the stakeholder engagement. It regarded as specific because the organization utilize specific tool like customer survey. On the other hand, MACQUARIE includes the areas of interest to stakeholder. It also includes operational performance and financial performance.
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Measurable
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CSL’s Stakeholder engagement is measurable because it conducts different types of forums and road shows to provide information to the investors. The company also collect information from their staff through the survey process. On the other hand, MACQUARIE focuses on the performance level of the employees. The organization also tries to communicate with the employees regularly to promote and share ideas about corporate values.
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Assignable
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CSL include very wide stakeholder engagement. Therefore, it has able to fulfil all its objectives regarding corporate social responsibility. MACQUARIE also uses wide range of stakeholder engagement in order to conduct business successfully.
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Realistic
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The CSR of the CSL include vast types of activities. Therefore, it creates difficulties for the organization at the time of effective utilization of the activities. MACQUARIE primarily focuses on the local communities for maintaining its responsibility.
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Time constraint
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It requires lot of time from the organization.
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Table 1: Corporate objectives analysis
MACQUARIE has able earn international reputation due its different types of services. Furthermore, the company is focusing on increasing the number of services they provide. The organization also remain continuously involve in the CR activities (AntAl, 2013). On the other hand, CSL focuses on to develop a healthy work environment to treat their employees in an appropriate manner. In order to achieve organizational goal, it is important to understand the importance of equipping the employees with proper skills to perform all the activities.
Conclusion:
From the above discussion, it can be assess that both the company has been providing superior quality of services to the customer across the world. Particularly, MACQUARIE group has huge amount of engagement in CSR activity. However, comparison of corporate value between the two organizations, it has been evaluated that CSL has not able to perform organizational activities effectively due to many CSR activities and goals.
References:
AntAl, A.B., 2013. Art-based research for engaging not-knowing in organizations. Journal of Applied Arts & Health, 4(1), pp.67-76.
Beringer, C., Jonas, D. and Kock, A., 2013. Behavior of internal stakeholders in project portfolio management and its impact on success. International Journal of Project Management, 31(6), pp.830-846.
Buck, S. and DeLawyer, T., 2012. A new comparison of brown and yellow. Journal of Vision, 12(14), pp.9-9.
Driessen, P. and Hillebrand, B., 2012. Integrating Multiple Stakeholder Issues in New Product Development: An Exploration. Journal of Product Innovation Management, 30(2), pp.364-379.
Kang, S. and Hackman, M., 2012. Toward a Broader Role in Mission: How Korean Americans’ Struggle for Identity Can Lead to a Renewed Vision for Mission. International Bulletin of Mission Research, 36(2), pp.72-77.
Macquarie Group. [online] Macquarie.com. Available at: <https://www.macquarie.com> [Accessed 8 Aug. 2016].
Šmakalova, P., 2012. Generic Stakeholder Strategy. ecoman, 17(2).
TSENG, C. and PENNING-ROWSELL, E., 2012. Micro-political and related barriers to stakeholder engagement in flood risk management. The Geographical Journal, 178(3), pp.253-269.
Wagner Mainardes, E., Alves, H. and Raposo, M., 2012. A model for stakeholder classification and stakeholder relationships. Management Decision, 50(10), pp.1861-1879.
Willcocks, L., 2013. Information management: the evaluation of information systems investments. Springer.
www.csl.com.au, 2016. CSL Limited is a global biotherapy industry leader.. [online] Csl.com.au. Available at: <https://www.csl.com.au> [Accessed 8 Aug. 2016].
Zollo, M., Cennamo, C. and Neumann, K., 2013. Beyond what and why understanding organizational evolution towards sustainable enterprise models. Organization & Environment, 26(3), pp.241-259.
