Introduction To Management For CSL & Macquarie Group

CSL Group

Discuss about the Introduction to Management for CSL & Macquarie Group.
 

Vision & Mission

CSL is having strong belief regarding security, quality and also the customers they attend. Its wide research and development, the variety of sustenance facilities shows that we are still assured to all the consumers who rely on our produces. CSL Behring aims to provide people with best probable treatments and amenities (“About CSL Behring,” 2016).

CSL Behring mission is to be a developing Australian communal industry focusing in biological goods aiding both Australian and intercontinental wellbeing.

The CSL Behring Values fix a ground for operating through the association and aids in deciding in different businesses that forms a part of CSL Behring. The values defined by CSL group in year 2002 are (“About CSL Behring,” 2016):

1. Emphasis on consumer – We are passionate about meeting the needs of our customers
2. New inventions – We seek better ways of doing things
3. Truthfulness – We are ethical and honest at all times
4. Teamwork – We work together to achieve better results
5. Greater Performance – We strive to be the best at what we do 

At CSL, Business Responsibility tells us about leading our profession morally and thus making a cause towards the economy, society and environmental health of the societies. They consider that working sensibly is important for the existence of the company (“About CSL Behring”, 2015). The major areas are:

• CSL line up its corporate responsibility according to its business aims and make sure that it pairs with exclusive abilities and profits of their shareholders.
• Finding and making fresh medicines for requirements which are not met and repeatedly cultivating protein-based treatments for patients;
• They make sure that the treatments are harmless and good in quality by preserving the best criteria while working through the development of the product.
• Functioning ethically in the market by selling the medicines in a logical way, working as a team to provide people with all information
• Giving a healthy environment by creating an atmosphere of common faith and honor, thus making people doing their task efficiently and identifying and praising their part.
• Reducing the effect on environment by managing sensibly the functions and wealth of nature not on the sake of security, quality and availability of the treatments.

CSL respect involvement of shareholder as the basis of business responsibility and recognized stakeholders as the workers, patients, financiers, managers, dealers, government, healthcare specialists, plasma donors, corporate associates and the educational and technical society. 

Macquarie has a goal to encourage larger profits and make greater and bearable stakeholder value in accordance with the potential of shareholder for developing good business control.  Throughout its history, Macquarie has exhilarated its workers and dealings to see more prospects during its functioning in a solid threat management outline (“Welcome back: discover the Macquarie…”, 2016).

Our aim is to seek prospects for the profit of the people and the stakeholders. They work in a corporate to earn profit in the way best suited to them.

Their methodology of working is laid on 3 values:

1. Opportunity- They strive to find chance and comprehend the same for its society, customers, stakeholders and people. Macquarie workers begins with actual information and ability. They emphasize new inventions, cleverness and risk-taking spirit. They upkeep its people to accomplish and flourish. They apprehend opportunity as, honoring new style of thinking and participation of people.
2. Accountability- After opportunity is liability. The people are liable to all the works done, to all the customers, to the society, stakeholders. They are accountable for all our actions, to our clients, our community, our shareholders and each other. They at no cost will negotiate on their morals. The every deed and word of ours is kept as records. They investigate and take risk and proudly take judgments.
3. Integrity- They always behave fairly and equally and respect the promises given by them. Through their actions and morals, they want to get faith of their stakeholders, clients, and people. They have the potential to speak up when something wrong happens

Macquarie works on six key values and ethics (“Welcome back: discover the Macquarie…”, 2016). These are

1. Truthfulness
2. Client Assurance
3. Surviving for profits
4. Working in a team
5. Satisfaction of people
6. Teamwork and the bigger ideals. 

The Macquarie Group Foundation funds agenda provides advantage to society in streams of study, health care, health enquiry, surroundings that benefit the entire community in areas of education, arts, health research, health care, welfare and the environment. At present the foundation announced that Macquarie will give a benefit which helps workers to be dedicated to contribute on daily basis to donations or charities by regularly reducing the worker’s wages (“Welcome back: discover the Macquarie..”,2016).

The Macquarie Group Foundation gives strength and provision to public organizations across the world every year by giving them investment funding, globally each year through financial support, undertaking and membership in services most preferably in regions where Macquarie functions.

The working of Macquarie is highly inclined by the actions and happenings of their workers with primary emphasis on the capability construction in the public domain and thus enhancing movement in social and finance areas.

The main stakeholders for Macquarie Group are its shareholders, its people and society.

SMART stands for

Specific- should target a specific area

Measurable- should be quantifiable easy to measure

Assignable- should specific as to who is going to do it

Realistic- The results should be achievable with the given resources

Time bound- has a timeline attached to it

CSL’s vision is specific as it targets the safety and quality aspect of its products. Also, it emphasizes on commitment towards creating the best possible therapies and services. Its mission talks about being a growing company which intends to create products which would benefit the health care industry. Macquarie is very specific about its vision as it talks about promoting profitability and delivering value to its shareholders. It also releases very clear corporate governance guidelines every year which are strictly to be followed (Cothran & Clark, 2015).

Measurability- There isn’t any criteria of measurability in the vision of CSL. It commits on providing best possible therapies and services. However, there isn’t any metric defined as to how ‘best possible product’ will be measured or assessed against the other products/ services available in the market. Similarly, its mission does not indicate as to how it will assess whether its products are benefitting the health care segment or not (Annual Report, 1999).

Macquarie talks about delivering profitability and value to its shareholders which are clearly measurable metrics.

Assignable- CSL assigns the responsibility of its research and development team to create the best therapies and services which are supreme in quality and are safe for consumers to use.

Macquarie on the other hand assigns the responsibility to its staff to pursue and grab as many opportunities as possible with calculated risks. It also clearly defines what it means by the term ‘opportunity’, for its people.

Realistic- CSL’s vision focuses on the safety and quality of the products. However, providing the best possible products seems to be a little unrealistic as it is not possible to measure if its products are the best in the market.

Delivering profitability and value for its shareholders and sound corporate governance procedures are realistic parameters that Macquarie aims to focus on and deliver in the future.

Time bound- CSL does not assign any timeline to its mission and vision. In a similar way, Macquarie’s statement also does not indicate any timeline attached to it. 

CSL Behring is saying that they will provide the best possible products but it is not possible to define what are the best possible products available or can’t be designed by any pharmaceutical company. So, it is not believable. They say that they are serving the people and the society. This is believable and looking at many past records of the company. As US FDA (Food And Drug Administration) has also approved it in providing treatments to diseases like   A, providing Pediatric Treatment for Hereditary Angioedema (HAE) and thus serving the society (“U.S. FDA Approves CSL Behring’s Berinert..”, 2016). So this is believable.

Macquarie aims at providing value to shareholders and aims at making profits. This is believable. Their method of working is also believable.

CSL group adds value to the needs of the people and the society by developing new inventions and laying more emphasis on demands of affected people.

Macquarie adds value for its workers as according to an investment bank UBS, it pays its worker very good salaries (Letts, 2015). It is also valuable for its shareholders as it thinks of their profits and give them maximum returns.

Conclusion

Macquarie group has SMART goals in comparison to CSL group. It aims to measure profitability and value provided to shareholder in comparison to the global vision of CSL of providing best quality products to its consumers. Similarly, the vision of Macquarie group is realistic and achievable in comparison to the CSL group. 

List of References 

Macquarie Group Limited, 2016. Welcome back: discover the Macquarie difference. [online] Available at: <https://www.macquarie.com/au/corporate> [Accessed 31 March 2016].

CSL Behring, 2016. CSL Behring: Biotherapies for life. [online] Available at: < https://www.cslbehring.com/homepage > [Accessed 2016].

Clark, L. J., Wysocki, A., Cothran, H., 2015. Developing SMART goals for your organization. UF/IFAS Extension.

Letts, S., 2015. Macquarie Group pays its staff too much, says rival investment bank UBS. ABC News.

Company Overview of CSL Behring LLC, 2016. Bloomberg.

CSL Limited, 1999. Annual Report 1998-1999. Melbourne:CSL Limited.