Discuss about the case study Management for Entire Business Operations.
Managers play the most vital role in any of the particular organization to increase the profitability as well as the productivity of the firm. In order to increase the effectiveness of the firm, the managers need to develop perfect vision and mission statement. This research paper will help in reflecting the desired comparison and contrast between the two companies CSL and the Macquarie Group. CSL is international Specialty biotherapeutics firm which mainly build up and delivers different types of innovative biotherapies saving the lives and helping people to get rid of life-threatening living conditions (Csl.com.au, 2016). The different products of CSL group are Plasma products, vaccines & Pharmaceuticals and the Research & development. There are more than 16,000 employees within the company who are working in more than 30 countries throughout the world including Australia, United Kingdom, Switzerland and much more. Macquarie Group is the investment banking and financial group operating throughout the world (Macquarie.com, 2016). The company includes financial, banking advisory as well as funds and investment management service to all of the corporate, counterparties and retail clients throughout the world.
Vision or mission statement
The mission statement reflects the purpose of the firm reflecting its defined targets for achieving as the business progresses. The vision and values of CSL group area customer focus, integrity, collaboration, superior performance, and innovation. The company believes that the focusing on the desired needs of the customers is very important as it helps in increasing the reliability of the customers. Whereas comparing the mission statement of CSL group with that of Macquarie group, the Macquarie group defines its vision to offer the wide range of innovative features for making the management of people’s wealth much easier (Borowiak et al., 2012). Contrasting the two vision statements from the companies mentioned above, Macquarie group reflects its purpose for realizing the desired opportunity merely for the benefits of the respective clients, people and the shareholders. The approach is merely based on three crucial long-held principles such as opportunity, accountability, and integrity. Moreover, the managers execute the most important role to enhance the effectiveness of the entire business processes. Both the companies is engaged in providing customer satisfaction on top priority relating to their respective different business field. It is important to maintain the effectiveness of the SMART objectives by the formation of the desired vision and the mission statement for the company concerned (Chapman, 2011). The vision and the mission statement of the two companies mentioned critically add value to the entire organization and are important for the development of the firm on a large scale.
There are different core values for a particular firm which helps in evaluating their values and the advantage of the business procedure they had in comparison to the other companies available within the concerned market segments(Fabozzi and Markowitz, 2011). Comparing the values of the two firms, health has been considered to be the most crucial factor for CSL group whereas wealth has been kept on top priority for the Macquarie group. The desired act of honesty and fair working of the Macquarie group helps the firm in distinguishing it from the other companies available within the concerned market segments. It is important to understand and follow the smart objectives as this helps in achieving the desired trust and values of the customers. Therefore, the CSL group has set the objectives achievable by focusing on the exact needs of the customers as well as by introducing the innovation in different facilities that are being offered to the customers. It is crucial that the values should be realistic and specific as to increases the reliability of the business procedures (Gallagher, 2009). CSL group and Macquarie group contains believable history in delivering services to the customers and they add up the value of the entire firm. One of the crucial values of the CSL group is that it is engaged in providing superior services to all its customers and this increases the brand reputation of the firm in front of the customers.
The CSR describes the desired way through which the business takes into account the social and the environmental impacts and the financial decisions. There are three of the most crucial elements for this process such as community involvement, environmental action, and the economic growth. CSL group critically believes that behaving responsibly with the customers is considered to be very importance for the sustainability of the firm (Newcomer, Wholey, and Hatry, 2015). There are certain areas where the company is prioritizing its CSR initiatives to enhance the brand value of the firm in front of the customers (Zhong, 2013). These areas are the researching and the development of the new medicines for the needs of the customers which are unmet, ensuring the therapies to be safe and of great quality, executing the operations responsibly within the concerned market segments, providing the desired positive work environment, providing support to the patients and minimising the desired impacts on the environment. On the other hand comparing the CSR initiatives of CSL group with that of the Macquarie are the group it is found that they are providing priority to the customer on the high scale (Oakey, 2010). The Macquarie group has CSR initiatives for the community, employees, environment and governance. The CSR ratings of the company are quite good as compared with the different companies. The CSR initiatives of Macquarie group are as per its commitments for the effectualness within the national, local and the global community. The CSR initiatives of these two companies strictly follow the SMART objectives in order to increase the effectiveness and the efficiency for the concerned firm (O’Donovan, 2014). CSL group has already introduced a CSR steering committee for the development and generation of awareness of the CR throughout the entire company.
Stakeholders play the most crucial roles in evaluating the desired growth of the firm throughout the concerned market segments. The stakeholders can significantly affect the desired objectives, policies, and actions taken by the company. The key shareholders are the directors, suppliers, owners, creditors, government, community and the unions (Ryall, 2010). It is considered to be of huge importance o follow up the SMART objectives in order to make it unaffected by any of the actions from the stakeholders (Weiss, 2014). CSL group, as well as the Macquarie group, have their own objectives and corporate statements for the development and expansion of the concerned business processes. The history about the CSL group evaluates the fact that the stakeholders significantly adds up values to the organization and they committed to providing Excellency to the company (Seethaler, 2009). The corporate statement of the Macquarie critically reflects that the stakeholders took active participation in their business process and they have contributed towards the development of the entire business methods (Waldman, 2011). Contrasting the corporate statements of the CSL group, it evaluates the desired fact that they are ethical as well as honest at all the times.
Conclusion
The paper eventually compares the operation of the business processes of CSL and the Macquarie group based on different factors such as the mission statement, values, CSR initiatives and the performances of the stakeholders within the mentioned corporate statements. Being ethical as well as honest at all the times creates the brand reputation and this is considered to be very crucial for the execution of the complete business processes of any of the companies concerned. The SMART objectives which stand for specific, measurable, realistic, attainable and time-bound plays the major role in improving the overall performances o0f the respective organizations. These particular statements of intention are believable as well as they adds up more values to the respective firms.
References
Borowiak, A., Galmarini, S., Hjorth, J., Thunis, P., Van Dingenen, R. and Dentener, F. (2012). Support to the review of the thematic strategy on air pollution. Luxembourg: Publications Office.
Chapman, R. (2011). Simple tools and techniques for enterprise risk management. Chichester, England: Wiley.
Csl.com.au. (2016). CSL Ltd is a leader in plasma protein biotherapeutics. [online] Available at: https://www.csl.com.au/about [Accessed 9 Aug. 2016].
Fabozzi, F., and Markowitz, H. (2011). The theory and practice of investment management. Hoboken, N.J.: John Wiley & Sons.
Gallagher, R. (2009). How to tell anyone anything. New York: American Management Association.
Macquarie.com. (2016). Macquarie Group. [online] Available at: https://www.macquarie.com/au/corporate [Accessed 9 Aug. 2016].
Newcomer, K., Wholey, J., and Hatry, H. (2015). Handbook of practical program evaluation, 4th ed. San Francisco, Calif.: Jossey-Bass.
Oakey, R. (2010). New technology-based firms in the new millennium. Bingley, U.K.: Emerald.
O’Donovan, G. (2014). Solvency II. Farnham: Ashgate Publishing Ltd.
Ryall, M. (2010). Bridge management. Amsterdam: Elsevier/Butterworth-Heinemann.
Seethaler, S. (2009). Lies damned lies, and science. Upper Saddle River, N.J.: FT Press.
Waldman, S. (2011). Pain management. Philadelphia, PA: Elsevier/Saunders.
Weiss, J. (2014). Business ethics. San Francisco: Berrett-Koehler Publishers, Inc.
Zhong, S. (2013). Proceedings of the 2012 International Conference on Cybernetics and Informatics. New York, NY: Springer.
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