Comparison Of Aristocrat Leisure And Fortescue Metals Group

Mission and Vision

Discuss About The Gambling Machines And Automation Of Desire?

Aristocrat Leisure Limited and Fortescue Metals Group are two very different entities. While Aristocrat Leisure Limited is a company that manufactures gambling and gaming machines, Fortescue Metals Group is involved in the mining of metals. In this essay we shall discuss their similarities and differences with the aim to gain insight into their working, visions, missions and social responsibilities amongst other things. Below mentioned are the various criteria and characteristics that define these companies, along with a SMART analysis to the respective criterion. SMART stands for Specific, Measurable, Achievable, Realistic and Timely and is a test or a tool that can be used to analyse the current situation in any organization while at the same time increasing its chances of achieving its goals. Also, the below mentioned statements shall be analysed as to whether they are “believable” or simply add value to the company.

Following are the vision or mission statements of the two companies-

1. Aristocrat Leisure Limited- “To create the world’s greatest gaming experience every day(Blakeney, 2012) is the mission of this company. The company believes that to render people with the world’s best gaming experience, one need to have more than just talented people and using advanced technologies. They give utmost importance to integrity, respect, courage and passion. According to the company’s beliefs, these characteristics are what define them.

1. The above mentioned statement is very specific as the company knows that they want to provide their users with the best possible gaming experience ever.
2. The measurability of the statement is relative in the sense that the company want to “be the best”. There are no comparable numbers that can be measured.
3. The goal is definitely achievable. To provide the best services in any field, the company has to strive for perfection.

1. The statement doesn’t mention anything related to the completion of their goals within a fixed period of time.

The company’s goals are believable. In addition to this, they do also add value to the company. Costumers, when they see that a company is providing quality services and experience, tend to become permanent clients and have faith in the company. This adds to the brand value of the company.

1. Fortescue Metals Group- the Company’s vision is that “of being the safest, lowest cost and most profitable iron ore producer(Romney & Steinbart, 2012) in the world. They give immense importance to the safety of their workers.

1. The company’s mission is specific as they want to produce iron ore at the most profit in the lowest cost.
2. The statement is similar to that of Aristocrat Leisure Limited in the sense that there are no quantifiable numbers mentioned.

1. Their vision is realistic.
2. There is again a similarity in the visions of both the companies as there is no mention of time-related issues.

Another similarity emerges in the vision and missions of both the companies. All of the goals or objectives of Fortescue Metals Group are believable as well as add value to the company’s goodwill and reputation.

 “Values can set a company apart from the competition by clarifying its identity and serving as a rallying point for employees (Lencioni, 2008)”. Following are the values of both the companies-

1. Aristocrat Leisure Limited- the core values that this company is built on is passion, courage and respect. They work to incorporate these values into their organization every day and encourage others to do the same.
2. Fortescue Metals Group- “Safety and family are at the core of our culture and values(Romney & Steinbart, 2012). Their core values include- safety of all the workers in their company, empowerment of every individual, caring for one and all, frugality, enthusiasm, courage and humility.

1. Both the company’s core values are specific. While ALL lays emphasis on passion and courage to provide an amazing, one of its kind gaming experience, FMG on the other hand, focuses on the safety of its employees and caring for one another. The difference in the values of the companies arises due to the fact that both the companies are different from one another to their core.
2. The companies vision do not provide any measurable data and rely on words such as “best”, “lowest” or “most profitable” to describes their goals.

1. The company’s visions are also very realistic. Aristocrat “spends something like $120 million a year on research and development(Annoynomous., 2013). This is a lot of money. If the company utilizes its funds properly, it can definitely achieve its goals and objectives in actuality (Crane, 2008).
2. There is no mention of time related goals or objectives in both the company’s statements of core values.

The core values of a company are its foundation. This is what the company is built on and what it stands for. The core value is what some would call “is the soul of the brand and the inner spirit when building a brand (Xiangyin Li, 2015). Both the company’s core values focus on qualities such as passion, courage and humility, all of which are “believable”. When a company is associated with positive characteristics, it adds to its value. Such is also the case of the above companies.

Often abbreviated as CSR, the Corporate Social Responsibility of a company refers to the action of taking responsibility for its actions by the company, be it related to acting towards the benefit of society or a company’s moral obligation to not indulge n activities that can prove to be harmful to the environment or the ecosystem. Following are both the company’s CSR.

1. Aristocrat Leisure Limited- the Company’s website does not mention much about the company’s CSR towards the environment. However, there is mention of the company being involved in a number of charities and fund raising events.
2. Fortescue Metals Group- The FMG takes Corporate Social Responsibility very seriously; they are involved in a number of activities which give back to the environment as well as their community. A few of these activities include- being responsible for the impact the company’s manufacturing has on the environment, giving educational grants to those in need and recruiting aboriginal people in their company.

1. Both the company’s CSR are specific to what they do. While ALL is more involved in doing charities and fundraising, FMG believes in giving back to the community in other ways.
2. Social responsibility or sustainability is hard to measure.
3. All of the actions of sustainability as well as social responsibilities of both the companies are achievable. The companies have been involved in giving back to the community and the environment in their own ways.
4. Both the company’s websites provide data to prove their achievements and how they have contributed their share to the betterment of the society and environment.
5. The above mentioned activities have been completed within a given time as the companies thrive to do more and give back as much as possible

SMART Analysis

 “Although a rich body of literature surrounds stakeholder theory, a systematic process for identifying health stakeholders in practice does not exist (Schiller & Winters, 2013). Stakeholders in a company are people who are directly involved in the working of the organization and have a concern or interest in its business. Following are the similarities and differences in the 2 company’s stakeholders-

While ALL stakeholders includes is chairman, managing directors, CEO and non executive directors, the stakeholders of FMG include a long list of investors in addition to the above. “Stakeholders include those who have some kind of claim on the services of the organization (Lee, 2014)”.  

Conclusion

As mentioned above, Aristocrat Leisure Limited and Fortescue Metals Group are two different that are involved in completely different businesses. However, there are many things that they have in common as well as some which they don’t. A company’s vision or missions are core entities that form the rest of its operating structure. A SMART analysis can help in determining the status of a company’s visions and missions, and assess whether these are realistic and achievable in a given amount of time. This can help a company to understand its limitations and strengths and act accordingly. From the above mentioned, one can understand the role a company plays in giving back to the environment and community in more than one way. It is a company’s social responsibility to act in a way that is beneficial to one and all. Also, the stakeholders in a company are the most important contributors and people who are involved in tis working.

References

Annoynomous., 2013. Gambling­machines and the Automation of Desire. PLATFORM:Journal of Media and Communication, pp.34–51.

Blakeney, M., 2012. Intellectual Property Enforcement: A Commentary on the. – Page 151. 2nd ed. New York: Cengage. Available at: https://aristocrat.com/about [accessed 19 September 2017].

Crane, A., 2008. The Oxford Handbook of Corporate Social Responsibility. New York: Cengage.

Lee, K., 2014. Who are the stakeholders? The Journal of Technology Studies, pp.2-8.

Lencioni, P.M., 2008. Make Your Values Mean Something. Harvard Business Review.

Romney, M. & Steinbart, P., 2012. Accounting Information Systems Australasian Edition – Page 371. 3rd ed. London: Springer Publications. Available at: https://www.fmgl.com.au/about-fortescue/our-culture [accessed 17 September 2017].

Schiller, C. & Winters, M., 2013. A framework for stakeholder identification in concept mapping and health research: a novel process and its application to older adult mobility and the built environment. British Columbia: BMC Public Health.

Xiangyin Li, C.S., 2015. A Study on the Core Values of the Brand. Journal of Service Science and Management, pp.868-73.