Discuss about the Human Resources Value Chain Strategies of CSL Limited.
CSL Limited is a biotechnology company operating its business globally. The company basically researches, develops and manufactures the products which can help people to treat and secure themselves from attracting serious diseases. CSL has flourished its market by providing quality medications to the people in the market which helps them to recover with a speedy growth. The main product areas of CSL are vaccines, blood plasma derivation, cell culture reagents and antivenom. These are the major products in which the company has gained specialization. Further CSL is public company running in the market through 1916, and it is headquartered in Victoria. The company is a diversified company supplying its products worldwide. Also, CSL earned optimum revenue in the previous year that is USD $ 6.923 billion.
Additionally, the report provides an overview of planning, human resources and value chain strategies which shall be defined by the company so that they can earn a valuable position in the market and eliminate the barriers coming forward in their growth process. More details about the company and its activities are discussed below.
Talking about the background of the company, it shall be known that CSL was founded by the Australian government in the year 1916 with the name of Commonwealth Serum Laboratories (CSL). And then the company was privatized in the year 1994. Current operations of the company are managed by the CEO Mr. Paul Perreault. Furthermore talking about the international business environment, the company provides biotechnological medicines which help people save their lives (Jain, Aggarwal, Sharma and Sharma, 2013). As the company is renowned in the market due to which many other hospitals and organization depend upon the company for carrying their day to day business activities. Thus, it shall be said that comply lays great importance in the international target market. also the position of the company Australian context it shall be known that CSL is regularly offering quality products to the consumers due to which there is growth in sustainability in lives of people. Apart from that the company also focuses on providing environmental benefits to the company by restoring soil, water, and the natural resources at low costs (CSL, 2017).
The environmental factor affecting the growth of CSL n the country, it is known that as in past CSL was a part of the government, due to which the company follows the same rules in the management and manufacturing process. Resulting to which they get assistance from the political and legal factors present in the environment; the economic factors of the country state positively affect the growth of the company, as it has been known that CSL is an economic product offered o the people worldwide. Also, the social and technological factors assist the company in its growth. Baxter and Grifols are two major companies which hold the market share along with CSL in the Australian market (CSL, 2017).
Strategic planning is an important part which plays an important role in organizing and initiating activities in the global market successfully. The company CSL is adopting various strategies to implement effectiveness in the organization. Being a biotechnological company, t is the duty of CSL to adhere strict values and code of conduct in their business so that benefits are achieved by the organization along with the community. The value and ethics of the management of the company are:
Talking about the sustainability activities of the company in context to the mission, vision of the company, the company is engaged in providing products and services in the market with the use of natural resources. This practice of the company helps them in incorporating sustainable managerial practices in the internal process of the company. Another sustainable strategy which the company uses in their production process is that they use eco-friendly packaging concerning the requirements of the society and the environment.
Furthermore talking about the approach which the company is currently using to plan their objectives for the future growth of the organization is the holistic planning approach. The company innovatively manufactures products which help the community to attain maximum benefits out of the products. In alignment with the values the organization, the company enacts sustainable activities which improve the health of people in the environment. Thus, with its process, the focus on patients’ value of the company is fulfilled (Grajales III et al, 2014).
Apart from that t shall be noticed that the customers attain the products of the company when they are ill or are attracted with some serious disease, so in that case, if the company produces and manufactures adulterated products, then it worsen the conditions of the patients. That is why the main goal of the company is to create a quality product with the aipf innovation. For this purpose, the holistic innovative plans are created by the management to assist the competence of the company present in the global environment.
Further sustainability in the company is incorporated in the company through its actions and standards set for the company. Like, in the above-mentioned statement it is known that the company implements values which positively affect the community. Thus, all the activities held in the management process of the company developed in such a way that they implement sustainable growth. Also, the aim of the company is to show innovative instincts in their every action due to which CSL receive a competitive advantage in the market. Thus, all these aspects are taken into consideration while innovating plans for the organization (Witcomb, 2015).
Human resource management is the key aspect which helps the organization to grow and sustain their growth in the competitive market. And CSL being a biotechnological company requires the efficient team who can innovate adequate medication to solve the health-related problems of the people in the country. For this purpose, the company needs to recruit human resources who adequately fit the job description of the company (Barea, 2015). Thus, the company adjoins with the contractors present in the environment who supplies human resource for the company. After recruitment, the human resource manager mainly focuses on the training process of the employees of the company. They provide quality training under which the trainees are acknowledged with the goals and objectives of the company and sustainability which are employees shall fulfill while being a part of management. No employee is fit for the job at the beginning of their time period; they are gradually trained with time. It cannot be said that the company adequately finds human resource fit for their company but in fact they make employees fit according to the requirements of their job. CSL believes that right people are found in the way but they are created by the company in the way of their job (Armstrong, Kotler, Harker and Brennan, 2015).
Effective workplace management is automatically created when the employees are concerned towards their job profile and organization’s image. One of the major factors which affect the environment in the workplace and the satisfaction level of the employee is the pay which they receive from the company. All employees of the company have the right to receive adequate pay according to their work (Epstein and Buhovac, 2014). This helps in motivating the employees to the maximum level, also compensation and rewards help the employees to get satisfied with their job which creates a good working environment for all the employees of the organization. Another way through which CSL initiates adequate workflow is through implementing good communication in the organization. Communication is the key with the aid of which proper work is circulated in the management. And in CSL the top level management also communicates with the lower level management of the organization without a mediator. Such activities provide the sense of identification in the employees of the company which leads to the effective workforce (Quintana-García, and Benavides-Velasco, 2016).
In the process of managing the sustainable practices in the organization, CSL initiated their day to day activities in such a way that it inspires other competitors and people present in the market. The global leadership group at CSL provides strategic direction to the company which supports sustainable growth of the company. Also, the leaders of the organization believe in extracting talent present in the environment and recruiting them so as to plan technological innovation in the organization (Thomas, Fugate, Robinson, and Tasçioglu, 2016). The leadership style which the management of the organization follows is the democratic leadership style. Democratic leadership refers to the style of leading under which the leaders seek the advice of the employees of the organization to take a decision in the organization. This process initiates involvement of the stakeholders of the organization; due to this participation, all the employees are faithful towards the working of the organization. Resulting to which goodwill of the company is created in the market (Lainez, González, Aguilar, and Vela, 2017).
On the part suitability, the biotechnological organization, the leaders motivate the followers in the company so that they fulfill their duty towards the natural environment and the people. Democratic leadership plays a significant role in managing the image of the company in the market and initiating sustainable activities in the internal as well as external environments. Effectiveness in the organization is created with the implementation of good leadership style in the organization, power, and authority is flowed in the environment. The process of leadership helps the management to flow adequate responsibility and authority among another employee of the management (Short, Toffel, and Hugill, 2016). Apart from that it also helps in motivating the employees to achieve their personal target and with organization target due to which subsequently sustainability in the external market is achieved. The fact that shall be taken into account relating to the management of the company is that the management of the company belies in optimizing resources effectively and creating innovation through, due to which it shall be said that the company implements transformational leadership. This type of leadership characteristics helps the management to adapt according to market fluctuation. Lastly, sustainability in the organization is incorporated through the effective use of resources and efficient services provided by the employees of the organization. Thus, the leaders of the company focus on both the activities due to which sustainability is achieved (Bueno, Merino, and Murcia, 2016).
It is very important for a business to adopt an effective value chain as with the aim of this process only products are supplied in the market. As the company is working in the biotechnological field so they need to supply their products on time otherwise, the severe problem can occur with the patient. Also in order to be competent in the market CSL need to regularly update their value chain to improve the quality of their services (Schaltegger and Burritt, 2014).
Technology plays an effective role in the value chain process of the company. CSL limited has accessed the latest technology due to which they gather opportunities to grow in the target market. One such technologic which the company innovated in their production is to provide a therapeutic product which can fulfill the needs of the patients. So, in order to adequately supply such services to the patients, worldwide CSL originated their outlets in various reachable part of the country due to which effectiveness to the innovation was achieved (Strand, 2014).
The strategies on which CSL shall focus to initiate effectiveness are discussed below.
Product strategy: the company is engaged in providing various products in the market which helps in saving the lives of many people. The main purpose of the company behind supplying such products is that to initiate healthy and normal lives to people. The major product in which the company deals are mentioned below (Choi and Yu, 2014):
The production process of the company should mainly focus on the labeling and packaging of the products. Eco-friendly packaging shall be used for the products (Tseng, Lim, and Wong, 2015).
Pricing strategy: CSL limited shall offer its product in the market with discount and competitive pricing strategy. This process will make the prices of the product lower than the competitors present in the market. Also under this scheme CSL will initiate to give a discount to the regular customers of the company and the customers who buy the product in bulk. The discount shall be given to the customers of the total volume of the product purchased by the customers.
Promotional strategy: promotion is an important tool which every organization shall use to flourish its business in the target market. CSL shall adopt an effective promotional strategy to eliminate a competitor in the market and expand their business as well. Activities like, sale promotion, personal selling, and advertising shall be initiated by the company (Clarysse, Wright, Bruneel and Mahajan, 2014).
Conclusion and recommendation
Thus, in the limelight of above-mentioned events, it shall be noted that CSL Limited is an organization which is offering biotechnological products to the customers resent in the target market. The products of the company are created in such a way with the use of natural resources that it helps people in curing their diseases. The above-mentioned analysis gives a view regarding the sustainable practices of the company in the present situation. It includes the strategic planning of the organization along with human resource management, leadership, value chain etc. strategies of enhancing sustainability. Furthermore, some of the strategies which the company can use to improve their growth in the target market are discussed below (Pagell and Shevchenko, 2014).
It is recommended for the company that they should majorly focus on the quality and pricing of the products which they provide in the market. Such products help people to survive, thus it shall be recommended that such medications shall be approachable by all people present in the market. Also, such type of drugs has their side effects as well, so the company shall aim to provide a disclaimer to all people regarding the side effects of the products and way in which these products shall be consumed by people. Also, it shall recommend that the products shall be manufactured in the company with of use of natural resources only, and then the only improvement will be effective in the health of people. Use of chemical introduction process shall be avoided in the highest priority. Lastly, the company shall also aim to diversify its business and open its outlets in other countries as well.
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