The future aspiration of the organisational leader is driven by the vision and mission statement of the firm. The vision statement articulates a broad conceptualization regarding the future destination of the organisation (Minoja, 2012). On the other hand, the mission statement is considered different than the vision statement, as it depicts the immediate future of an organisation and delineates the reason for the existence of the firm as well. In this regards, Klettner, Clarke and Boersma (2013) stated that the vision and mission statement builds the values of the organisation, which drives the overall management functions of the firm as well. Also, Cordeiro and Tewari (2014) mentioned that the corporate social sustainability builds responsiveness and accountability of the brand within the global business environments.
Farooq, Aguenaou and Amor (2015) also stated that organisational value statement guides to create decisions and goals to meet the vision of the organisation. Considering the fact, the current study attempts to identify the vision or mission statement of two different firms from two different industries considering the case study of CSL Limited and MACQUARIE GROUP. At the outset of the survey, a comparison has been made of various values of both the firms. The study also covers the corporate social responsibility conducted by the current organisations and ends with the evaluation of stakeholder accountability in the business growth of both the firms.
MACQUARIE GROUP:
The MACQUARIE GROUP’s vision statement is to bring together all the investments of the stakeholders into a single and integrated digital tool to help the clients efficiently manage individual wealth. The vision statement of the firm is as follows:
The overall analysis states that the vision of the Macquarie Group is smart, measurable, achievable and realistic as well. The SMART goals are qualitatively measurable.
The core values of CSL Limited are to provide safe and efficient products. The vision of the firm is as follows:
The current vision statement of CSL Limited is aligned with each component of the SMART goals. The vision is smart, measurable and achievable. At the same time, the vision elements are realistic and timely achievable as well. The vision statement analysis for both the firm indicates that CSL’s vision statement is better than the enterprise MACQUARIE GROUP.
CSL Ltd emphasises to provide the standardised marginal products that help the consumers to improve the health conditions. In the circumstance of the present context, Brennan (2010) mentioned that the brand invests around US$460 million over the R&D team in order to discover the specific drugs that can easily be the solutions of the high chronic diseases. The corporate value of CSL is highly specific and time bound. Morsing and Roepstorff (2014) mentioned that since, the brand deals with the pharmaceutical products, therefore, it is the exclusive responsibility of the management to ensure the primary safety of the consumers. Hence, CSL focuses on the plasma-derived and the recombinant products to reduce the side effects of the medicines. CSL works in an organised manner, and the activities are planned for the short tenure, which helps the enterprise to attain the corporate objectives.
However, MACQUARIE GROUP emphasises on providing all possible diversities to its employees, which influence the internal members to increase both the professional and the personal expertise. Cordeiro and Tewari (2014) mentioned that the management believes in providing widespread flexibilities with its staffs. Through the specific action, the management manages to increase the motivational aspects of the employees. The value creation strategy of MACQUARIE GROUP is recognised to be achievable.
The CSR activities of CSL
In the framework of the current subject, Farooq, Aguenaou and Amor (2015) mentioned that CSL is continuously improving its protein-based therapies to develop the new medicines that prevent the serious human illness. The R&D (Research and Development) actions are led by the Chief Scientific Officer (CSO). According to Klettner Clarke and Boersma (2013), CSL is majorly committed to the R&D activities in a responsible manner. The particular approach ensures the quality of the research project, which confirms the safety, well being and an active clinical trial of the patients. Minoja (2012) determined that the CSL ensure an operating responsibility in the marketplace by marketing the medicine in an ethical manner. The enterprise is committed to offering accurate and balanced information to its healthcare professional and governments. Through the particular action, the company seeks to receive adequate support from the government to provide best possible care to its patients. According to Elias and Tucunduva Philippi (2015), the CSL’s CSR activities is highly realistic, as the production process, packaging and the medicine transportation action generate greenhouse gas emission. The CSL team performs sustainable practices to minimise the environmental impacts.
Morsing and Roepstorff (2014) mentioned that the environmental impact of the brand’s operations, predominantly relate to the resources the brand uses within the offices, data centres and the air travel. The management of MACQUARIE GROUP managed the environmental impact of monitoring and limiting the resource use. The brand includes the energy efficiency measures, data centre virtualization, water management and waste recycling programs. In the similar instance, Farooq, Aguenaou and Amor (2015) specified that the MACQUARIE GROUP is committed to conducting the business by the applicable regulations and laws of the regional governing authority. Thus, assessing the above activities, it could be perceived that the CSR actions initiated by the brand are highly accurate. The enterprise provides all possible diversities to its employees to utilise the potential growth within the workplace.
Evaluating the above context, a perception is derived that the CSR activities of CSL Ltd are far more specific and measurable that MACQUARIE GROUP. The CSR action of CSR is far more organised and planned than MACQUARIE GROUP, which helps the enterprise to achieve its corporate objectives efficiently.
The stakeholder’s feedbacks are analysed below:
As per the annual report of the firm, the company has consistently achieved the growth through the process execution and the business strategy. In the opinion of Horisch et al. (2015), investing in research and development to make advance the medical therapies is the core portfolio of the firm that expands its market share. The report of the stakeholders specifies that the relentless commitment of the organisation increases its productivity and efficiency. Thus, it could be deduced that the ‘specific’ goal of the firm is completely ‘measurable’, and it is achievable in the every sector of its activities. Furthermore, the life saving and life-enhancing therapies of the company acts in a sustainable and responsible way to illustrate the tangible commitments (Jung et al. 2015). Therefore, as per the opinion of the stakeholders, the trademark rules and labels of the firm is entirely ‘realistic’. Adding to this, the CSR (Corporate Social Responsible) approach of the firm highlights the social, environmental and economic performance of the company that assists in drawing the attention of the stakeholders towards the firm. Considering the opinion of Corno and Razzak (2012), the continuous growth of the biopharmaceutical company reflects that the health and safety performance of the company completes within the projected time. Therefore, it could be identified that the overall activities of the firm are also aligned with the ‘timely’ factor and also completely ‘achievable’ to influence the organisational goal.
The annual report of the MACQUIRE GROUP indicates that the firm supports the entire community where it operates. According to the opinion of Corno and Razzak (2012), the global finance service provider firm is expertise to cover the capital market, funds management, asset financing and retail financial services. Thus, the ‘specific’ goals of the firm are completely aligned with its operations. As per the stakeholder’s reports, the diversified functionality of the enterprise, strong capital position and the robust risk management process has contributed to enhancing the profitability record of the firm (Husted and Allen, 2010). Therefore, the ‘measurable’ and ‘achievable’ attribute of the SMART objectives of the firm has been identified. Furthermore, the sustainable shareholder value to meet the stakeholder’s expectations is an example of the sound corporate governance of the firm. The management of the MACQUIRE GROUP is capable of encouraging the employees and business opportunities while operating in a strong risk management framework (Noddings, 2007). Hence, the ‘timely’ and ‘realistic’ attribute has also been founded to the business performance of MACQUIRE GROUP and as well as with the stakeholder’s feedbacks.
The primary assertion of the study indicates that the overall management process of the two firms named, CSL Ltd., Australia and the MACQUIRE GROUP. As per the research on the current context, it has been observed that the commitment of the CSL Ltd., Australia is to save the lives and improve the quality of people’s life. The firm is focused on fulfilling the customer’s requirements. On the other hand, the opportunity, accountability and integrity are the three major factors of MACQUIRE GROUP. The purpose of this firm is to realise the opportunity and the benefits for the clients, shareholders and the other business entity. While conducting the research, the research associate has analysed that both the chosen firms are in the stable position to meet the specific objectives with SMART goal attribute. Thus, it could be inferred that the business of the two different industries are in the profitable state to achieve the long-term goal.
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