Compare and Contrast the two Companies in relation to the following:
A vision or mission statement.
Values of the Organisation
Corporate Social Responsibility/Sustainability
Stakeholders mentioned in their corporate statements
This report has been prepared to analyze the relation between two companies. It compares the relation among two companies named by Aristorcat Lesiure limited and Fortescue Metals Group. This report has been prepared to depict the user about the vision and mission statement, organization’s value, sustainability or corporate social responsibility and stakeholder’s statements which has been mentioned by the companies in their annual reports. Further, many analysis techniques have been used by the company to understand the relationship among the companies. It has been analyzed through the reports and many techniques and tools that have been used to analyze the believable intention over the company.
Further for analyzing the reports briefly, Aristorcat Lesiure limited and Fortescue Metals Group have been analyzed. It has been done to contrast the management and business of the company.
This company manufacturers gambling machines in Australia. This company is situated in Sydney suburb of North Ryde. The administration house of the company is in Sydney suburb of North Ryde whereas the research and development operation of the company is done at North Ryde site. This company has its development and marketing offices in United States, Russia and South Africa. Aristocrat is one of the biggest gambling machine producers in Australia and one of the biggest producers of slot equipments in the international level, presently it fall into the second position into the International Game Technology (Aristocrat Leisure Limited, 2017).
This company is an Australian iron ore firm. Fortescue metals group is the fourth biggest Iron ore manufacturer in the globe as of March 2011. This firm has covered above 87,000 km in Western Australia of the Pilbara region of making it the biggest dwelling holder in the circumstances; this company has its operations more than the Rio Tinto and BHP Billiton (Annual Report, 2017).
SMART is a tool which is used for the managers to analyze the statements of the company. This term stands for specific, measurable, achievable, realistic and timely. This technique depict that whether the policies and statements of the company are specific to the company, could it be evaluated, is the company enough capable to achieve it, it is realistic or can company achieve it on time?
SMART tool has been analyzed on both the companies in this report to understand this technique briefly. Through this technique, it would be analyzed that whether the company would be able to meet the statement which has been depicted by the company in its annual reports and on its website (De Gante, Aslan and Matrawy, 2014).
Vision and mission of both the companies have been analyzed to identify the comparison and contrast of both the companies in terms of its business operations and functioning. Main mission of Aristorcat Lesiure limited is to achieve the international level marketplace and reputation trade distinction through excellence. Endorse an atmosphere for knowledge and development create pleasant relationship in the society. For producing last value creation to company’s customers by frequently and clearly dealing out the client’s products safely and delivery on time, it allows the company to maintain an integrity for a long time (reference for business, 2017).
The main vision of Fortescue is to be the safest company, offer lowest cost, most lucrative iron ore manufacturer. For realizing this company focuses on receiving the best from all the clients and employees by making sure that the environment and unique culture is supported through values and vision of the company (Fortescue Metals Group, 2017). Company considers itself as a family and the culture of the company guides the actions and assists the stakeholders to succeed. Company is committed as one squad and according to it; it founds itself as a best of the company.
Vision and mission statement of both the companies have been analyzed and found that the vision and mission of both the companies are specific, but it’s quite hard for the Aristorcat Lesiure limited to evaluate it and further, it is achievable by both the companies if they make some changes in their functioning and work accordingly (Freeman, 2010). More, the statements of Fortescue are not realistic as they consider many irrelevant things into their mission and it is not possible for both the companies to achieve their mission on time (Aristocrat Leisure Limited, 2017).
Corporate social responsibility is an initiative to take and assess the responsibility of the company over the social and environmental wellbeing. Corporate social responsibility is basically the responsiveness of the company towards the society and environment. It is accepted that business could only be set up by the help of the society so it is required for the company to do something for the welfare of the company.
Corporate social responsibility of both the companies has been analyzed to contrast the business of both the companies. Fortescue’s promise to carrying positive community modify by contributing to finishing the difficulty amid Aboriginal populace in the Pilbara, supporting variety in the company and dealing with environmental confronts like climate modify, are significant basics of the Corporate Social Responsibility strategy of the company (Aristocrat Leisure Limited, 2017).
Fortescue’s standards assemble at the approach of CSR. The company’s values set the moral and ethical scope by which the firm undertakes its functioning. The Code of Conduct maintains the necessary standards of corporate conduct, personal and behavior which is expected of all the People related to company. Fortescue supports the society and it has joined many NGO’s as a volunteer to support the society and resolve the society’s issues (Fortescue Metals Group, 2017).
Corporate social responsibility of Aristorcat Lesiure limited has also been analyzed and found that company is taking many initiatives to meet the society’s expectations. It has been found that there are many changes which have been made by the company for enhancing the CSR policies of the company. Further, it has also been analyzed that company has adopted the CSR policies as its culture so that every employee could work accordingly and the CSR points of the company could be enhanced (Nitschke and Innes, 2008).
Corporate social responsibility statement of both the companies have been analyzed and found that the CSR practices of both the companies are specific, more it ias also easy for both the companies to evaluate the practices. Further, it has been found that it is not achievable by both the companies as Fortescus CSR practices are quite different, so company is required to make some changes in its functioning and work accordingly. More, the statements of Aristorcat Lesiure limited are not realistic as they consider many irrelevant things into their practices and it is not possible for both the companies to achieve their CSR goals on time.
Stakeholders are the people who have a relation with company’s operation directly or indirectly. This relationship could be in form of profits, company’s efficiency, company’s functions, liquidity position of the company etc. there are 2 types of stakeholder one is external stakeholder and another one is internal stakeholders.
External stakeholders are those who are not the part of an organization internally, these stakeholders are those people who is indirectly associated with the operations of the company whereas internal stakeholders are those who are the part of an organization internally, these stakeholders are those people who is directly associated with the operations of the company.
It has been analyzed through the annual report of the Aristorcat Lesiure limited that company considers the shareholder as their key stakeholders. Company has also mentioned the part of other stakeholders but the main concern has been shown towards the shareholders of the company. Genuinely, shareholders are the main part of the business as without the investment company could not survive in the market but there are many other parties too that are responsible for the business functioning of the company (annual report, 2017).
At the same time, Fortescue’s annual report has also been analyzed and it has been found that company considers the shareholder, creditors, debtors, and financial institutions etc as their key stakeholders. Company has also mentioned the part of other stakeholders as all are responsible for the growth of the company. Genuinely, shareholders are the main part of the business as without the investment company could not survive in the market as well as many other parties such as debtors, suppliers, employees, managers etc are also responsible for the business functioning of the company (Annual Report, 2017).
Stakeholder’s statement of both the companies have been analyzed and found that the stakeholder information of both the companies are not specific, more, it is also not easy for Aristorcat Lesiure limited to evaluate the practices. Further, it has been found that it is achievable by both the companies (Meredith Belbin, 2011). More, the statements of Fortescue’s are not realistic as they consider many irrelevant things into their practices and it is not possible for both the companies to meet entire expectation of their stakeholders timely.
Conclusion:
Through this report, it has been analyzed that how SMART technique could help a company to manage its statements. In this report, a comparison has been done over the relation among two companies named by Aristorcat Lesiure limited and Fortescue Metals Group. It depicts the user about the vision and mission statement, organization’s value, sustainability or corporate social responsibility and stakeholder’s statements which has been mentioned by the companies in their annual reports.
References:
Annual Report. 2016. Fortescue Metals Group. Viewed as on 6 Aug 2017 from https://fmgl.com.au/media/2862/fy16-fortescue-annual-report-final-with-cover.pdf
Annual Report. 2017. Aristocrat Leisure Limited. Viewed as on 6 Aug 2017 https://ir.aristocrat.com/phoenix.zhtml?c=163688&p=irol-reportsannual
Aristocrat Leisure Limited, 2017. Corporate Social Responsibility.. Viewed as on 6 Aug 2017 https://www.csrhub.com/CSR_and_sustainability_information/Aristocrat-Leisure-Limited
Fortescue Metals Group, 2017. Corporate Social Responsibility. Viewed as on 6 Aug 2017 from https://fmgl.com.au/community/corporate-social-responsibility/
De Gante, A., Aslan, M. and Matrawy, A., 2014, June. Smart wireless sensor network management based on software-defined networking. In Communications (QBSC), 2014 27th Biennial Symposium on (pp. 71-75). IEEE.
Freeman, R.E., 2010. Strategic management: A stakeholder approach. Cambridge university press.
Aristocrat Leisure Limited, 2017. Home. Viewed as on 6 Aug 2017 https://www.aristocrat.com/
Meredith Belbin, R., 2011. Management teams: Why they succeed or fail. Human Resource Management International Digest, 19(3).
Nitschke, C.R. and Innes, J.L., 2008. Integrating climate change into forest management in South-Central British Columbia: An assessment of landscape vulnerability and development of a climate-smart framework. Forest Ecology and Management, 256(3), pp.313-327.
References for business. 2017. Aristocrat Leisure Limited. Viewed as on 6 Aug 2017 https://www.referenceforbusiness.com/history2/99/Aristocrat-Leisure-Limited.html
Fortescue Metals Group, 2017. Vision and mission. Viewed as on 6 Aug 2017 from https://fmgl.com.au/people-and-careers/working-with-fortescue/vision-and-values
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