Discuss about the Company Profiles for AGL Energy.
The present report analyses profiles of two companies for understanding their vision and mission, stakeholders and their corporate social behaviour. The companies analysed for the same are AGL and Land lease. The report presents a general outline of the purpose and main objectives of the companies in terms of customer needs and team values. Team values of any company represent inherent cultures of the organisation which manifests itself in the activity which is undertaken in the business. The report also presents the long-term objectives of the given companies known as the vision. The vision and mission statement of any company states their summarised goals and objectives.
AGL Energy is an Australian-based public listed company which is aimed at providing products and services of energy to the Australian economy. The operations of the AGL include production and selling of electricity for both commercial and residential use. The energy is generated using power from natural gas, thermal plants, wind power, coal seam gas sources and hydroelectricity. The company initiated their operation in Australia in 1837. The corporation serves more than 3.8 million customers all over the country with major customer accounts in Victoria, New South Wales, South Australia, and Queensland. It is the largest owner-operator and developer for renewable sources of energy.
AGL’s integrated mission is aimed at balancing the energy demand of customers and the upstream supply of energy. According to Lin-Hi and Müller (2013), integrating and maximising the existing generation’s value and portfolios of trading. The company also aims at strengthening the existing portfolios by sourcing and developing long-term supplies of gas. The organisation intends to continued investments in supplementary growth opportunities. Developing new capabilities in business for an integrated approach towards providing solutions for energy is also the main aim of the company. AGL also expects growth in retail margins and value of customer market share.
The vision of the company is to generate solutions to the problem and issues related to energy for the all the present and future communities. The company’s brand promises of actions and not just mere words. The company offers great contributions to all its stakeholders (Wesley and MacCallum, 2014). The company’s established values work as a compass for providing guidance to the working members for their behaviour and in the process of decision making. The major values which serve as the basis for the organisation are
For continuous transformation and meeting the needs of the customers, AGL responses to emerging trends in the attitudes of the consumers of electricity who desire to manage their energy consumption. The company regularly adjusts its regulatory frameworks and policy with the change in technologies and effectively manages for the decline in demand for electricity. The Retail Energy business of AGL is delivering an altered approach towards its customers in terms of service and experience. The core focus of the company is becoming a trusted supplier with exceptional customer experiences (AGL 2016 Sustainability Report, 2016). The business of Merchant Energy is aimed at driving short-term growth in earnings within the existing generation.
The success of AGL is measured and shaped not only by the monetary benefits received by the company but by the impact of their decisions on the social and environmental aspects on the wider community. AGL has started programmes like corporate citizenship and Energy for Life that builds a strategy of AGL for engagement of the local community. As per the views of Klettner, Clarke and Boersma, (2014) these programmes seek to make a legitimate contribution to the community as a whole. The programme is built to respond positively to upcoming sustainability risks, especially the financial hardship related to energy in the community program also provides opportunities for employees to offer the community they live and work, something in return. AGL supports the households which are unable to meet their energy requirements due to high prices.
The company follows a policy of stakeholder involvement in order to address the issues faced by each group of stakeholder. The company engages in constructive dialogues for this purpose. The major stakeholders of the company are-
Employees- In order to survive competition, the main issues for the employees of AGL are to ensure workplace safety, provide opportunities for development and training and providing fair and equitable salary for inducing higher performance.
Investment Community- Apart from the obligations of market disclosures, AGL engages with the investment community for dealing with the risks and opportunities of non-financial nature which may impact the company’s performance in the longer term.
Government- The authorities of governments have accountability for ensuring the accessibility of essential services (AGL Annual Report 2016, 2016).
Other important stakeholders of the company are its customers, energy industries, local communities and the NGOs.
Lendlease Group is a company which is a multinational property corporation operating in more than 40 countries and infrastructure company with its headquarters in Sydney, Australia. The company is involved in constructing and managing large building projects. The additional business of the company includes the development of apartments, green field residences, managing investments of property funds which are unlisted, management of property and Real Estate through selling and leases, Partnerships between Public and Private Companies, development of infrastructure and investment in venture Capital of innovative technologies. The company claims that it has made a special position in the lives of people that every day they survive, work, shop, play or travel by the use of assets created by the company.
The company’s vision is to create the best and unique places by working in harmony with their investors, clients and communities in all the countries of their operation like Asia, Australia, America and Europe. The company is aimed at creating places that are bound to leave a positive heritage in the country and encourages and enriches the lives of the citizens around different countries in the world. This is done by giving priority to safety and bringing up pioneering and well-organized solutions to provide sustainable and long-term outcomes for a diversity of stakeholders (Raufflet, Cruz and Bres, 2014).
Since 2009, Lendlease has obtained a consistent stake in its mission for becoming a chief property and infrastructure group in the international and core markets of their operation. The mission of the company is to ‘Focus & Grow’. This was developed by the company keeping in mind a changing global market and their strong position. Prior to the Focus and Grow strategy, the company’s mission was to ‘Restore, Build, Lead’. The company is focused on delivering optimal levels of performance in the target margins. The company is aimed at maximising opportunities around the integrated model by strong managing the risks.
The company’s value system works on four basic principles which are-
The company follows a simple rule which is ‘for the environment, for the society and for the economy’. For Land lease, sustainability means the creation of places for people for the purpose of meeting their needs for the upcoming period (Epstein and Buhovac, 2014). Lendlease delivers economic environmental and social outcomes through a portfolio of international development is urban sectors. Sustainability is core to their business strategy. For the purpose of becoming a leading sustainable company, the company aims to fully understand the influence that their activities pose to the environment. The company continuously measures and reports its performance to devise ways to improve performance (Okpara, and Idowu, 2013.).
Customers- Engaging with their customers through face-to-face meetings, surveys, retailer intranet, key client and JV partner events and social media campaigns are generally followed.
Investors- the company connects with their shareholders through AGMs, announcements through ASX, publishing Annual Reports and reviews of Security holders (Lendlease 2016 Sustainability Report, 2016).
Employees- Employee engagement surveys are regularly conducted for the purpose of feedbacks.
Community- Stakeholder engagement plans are developed for monitoring the effect of company’s activities.
Suppliers- strategies like strategic procurement and fair rewards are developed (Muller,2014).
Conclusion
It can be concluded from the present report that the vision statements of both the organisations served as motivational tools for the stakeholders of the company. Both the companies analysed are socially and ethically responsible in their behaviour. The mission statement of both the companies had their focus on customers, the processes used for operation and the desired level of performance. Both the corporations reveal a successful history for placing great emphasis on society, environmental and economy. The major opportunity for the company is taking these abilities into newer markets or combining them to create inventive solutions that are responsive to market changes.
References:
Books & Journal
Epstein, M.J. and Buhovac, A.R., 2014. Making sustainability work: Best practices in managing and measuring corporate social, environmental, and economic impacts. Berrett-Koehler Publishers.
Jamali, D., Karam, C. and Blowfield, M. eds., 2015. Development-Oriented Corporate Social Responsibility: Volume 1: Multinational Corporations and the Global Context (Vol. 1). Greenleaf Publishing.
Klettner, A., Clarke, T. and Boersma, M., 2014. The governance of corporate sustainability: Empirical insights into the development, leadership and implementation of the responsible business strategy. Journal of Business Ethics, 122(1), pp.145-165.
Lin-Hi, N. and Müller, K., 2013. The CSR bottom line: Preventing corporate social irresponsibility. Journal of Business Research, 66(10), pp.1928-1936.
Muller, A., 2014. Corporate social responsibility. Wiley Encyclopedia of Management.
Okpara, J.O. and Idowu, S.O., 2013. Corporate Social Responsibility. Springer Berlin Heidelberg.
Raufflet, E., Cruz, L.B. and Bres, L., 2014. An assessment of corporate social responsibility practices in the mining and oil and gas industries. Journal of Cleaner production, 84, pp.256-270.
Wesley, A. and MacCallum, D., 2014. The political economy of corporate social responsibility in the resource sector in Western Australia. A case study of the proposed James Price Point LNG precinct. In Resource Curse or Cure? (pp. 59-73). Springer Berlin Heidelberg.
Online
AGL 2016 Sustainability Report 2016. [PDF]. Available at < https://agl2016.sustainability-report.com.au/system/files_force/downloads/agl_csr_2016.pdf >. Accessed on [12th April 2017]
AGL Annual Report 2016. (2016.). [PDF]. Available at < https://agl2016.annual-report.com.au/ >. Accessed on [12th April 2017]
Annual Report 2016. Landlease. (2016.). [PDF]. Available at <https://www.lendlease.com/-/media/llcom/investor-relations/asx-announcements/2016/19082016-asx-lendlease-annual-report.ashx>. Accessed on [12th April 2017]
Lendlease 2016 Sustainability Report 2016. [PDF]. Available at <https://.lendlease.com.au_2016.pdf >. Accessed on [12th April 2017]
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