Discuss about the Strategic Comparison of Companies.
Business management can be understood as the process of developing plans, procedures, strategies and policies that guides a company on both day-to-day and extended term basis. It encompasses financial, human along with the material resources to attain company objectives (Barnett, Darnall and Husted 2015). The objective of the paper is to compare and contrast the strategic position of two companies namely, Blackmore and Brambles. Such comparison is conducted based on the vision and mission statement, values, corporate social responsibility along with SMART analysis of the companies. Moreover, the history of the companies also with the achievement of them in certain areas will also be evaluated in this paper.
Organizational Values of Brambles Company
Shared values of Brambles Company are mentioned in the code of conduct of the company and serves as a core aspect of the company’s culture. The shared values of the company consider that the operations within the company begin with the consumers, the company has passion for success, and it is committed to diversity, safety and teamwork (Brambles Corporate Site., 2016). Moreover, the values of the company believes in the culture of innovation and makes sure that the company acts with integrity and respect for the communities within which the company operates.
Blackmore Corporate Social Responsibility
The social responsibility actions of the company demonstrate the company’s care, respect compassion for all its employees, the wider community and the environment. The company is committed to promote its social responsibility values. Blackmore encourages its staff to get involved in social responsibility guidelines, in all its business conducts and employing social responsibility strategies in their everyday life (Della Rocca 2015).
Brambles Corporate Social Responsibility
The social responsibility of Brambles is developed on the principles those are greatly sustainable. The company offers safe, effective and sustainable solutions within the supply chains of its consumers. The company contributes to the circular economy by means of their CSR strategies of reuse, recover, reduce and recycle (Elms and Low 2013).
Blackmore Company attempts to manage its capital in order to make sure that the entities of the group might be capable to continue as an increasing concern at the time of maximizing the stakeholders’ returns by means of optimizing equity and debt balance.
Brambles Company has developed strategies such as “zero harm” that ensures that the company has the right to be safe at work and get back to their home healthy. Zero harm strategy makes sure that it provides increased priority to its stakeholder groups (Guarino, Reckase and Wooldridge 2014).
With great contribution to attain business objectives, the company has a significant milestone and has an attained as new era of achievements in collaboration, learning and discovery. The company has offered a number of new products every year with more than 80 fresh products, new pack sizes and enhanced product development resulting in growth of the company. Blackmore has launched an award-winning website that was re-launched in order to gain increased consumer attention in the social media. The new site was highly interactive and has turned out to be among the renowned online health communities in Australia. The production line of the company has increased its capability by 20%, along with enhanced product flows from from its new layout and focus on the improvements, and attained a daily production record of 82,000 units packed in a single day (Koo 2016).
The financial performance of Brambles Company is observed to be significant. The performance of the company improved with years that further triggered the company’s performance. Because of the company’s superior performance it attained long-term incentive awards and share based incentive plans. The sales revenue increased over the year that is designed to drive profitable business growth and continuous sales increase over the three years period is observed to help the company in attaining performance achievement The Company manages its capital and the profitable growth based several cash awards for the company (Lorange 2013). All the operating segments of the company attained considerable improvements and developed efficient technology to facilitate flexibility in its business operations. Moreover, the company continued to ensue better reporting that helped the company in identifying and addressing the higher risk potentials. Moreover, the company has attained great growth through being highly committed to sustainable use of products and services by means of its supply chain.
Based on the strategic comparison of both the companies, Blackmore Company is recommended to invest new growth opportunities to increase returns and generate value for the sustainability of its stakeholders in the long term. The company’s sustainability strategy should focus on the employees so that learning and the development opportunities are easily available to them. Moreover, the Brambles Company is recommended to invest more in the growth program (Seuring and Gold 2013). This strengthens its existing business in consideration to the actions to offer operational efficiencies that can intend to sustain the competitive advantages. Moreover, to gain strategic advantages, the company must consider reconstructing its pricing strategy and encourage the pricing team for implementing “automated online pricing tool” in order to develop simplified pricing structure. Brambles must make huge attempts to search for opportunities for addressing the challenges to the supply of pallet-grade chain in some developing geographic regions.
Conclusion
The objective of the paper was to compare and contrast the strategic position of two companies namely, Blackmore and Brambles. Such comparison was conducted based on the vision and mission statement, values, corporate social responsibility along with SMART analysis of the companies. It was gathered from the paper that the Blackmore Company has increased enthusiasm and belief in a natural approach to healthcare motivates the company in maintaining expense in all its operations. The shared values of the company consider that the operations within the company begin with the consumers, the company has passion for success, and it is committed to diversity, safety and teamwork.
Blackmore has a specific goal of defining a new market where the company has taken time for innovating in a particular way. Blackmore intends to set standard and this serves as a measurable goal for the reason that sales figures are needed to be reported. The company is implemented sales metrics analytics system properly to report to all its stakeholders. Based on the strategic comparison of both the companies, Blackmore Company is recommended to invest new growth opportunities to increase returns and generate value for the sustainability of its stakeholders in the long term. Moreover, the Brambles Company is recommended to invest more in the growth program that strengthens its existing business in consideration to the actions to offer operational efficiencies that can intend to sustain the competitive advantages.
Reference List
Barnett, M.L., Darnall, N. and Husted, B.W., 2015. Sustainability strategy in constrained economic times. Long Range Planning, 48(2), pp.63-68.
Beringer, C., Jonas, D. and Kock, A., 2013. Behavior of internal stakeholders in project portfolio management and its impact on success. International Journal of Project Management, 31(6), pp.830-846.
Blackmores.com.au., 2016. Annual & half-year reports. [online] Available at: https://www.blackmores.com.au/about-us/investor-centre/annual-and-half-year-reports [Accessed 8 Dec. 2016].
Brambles Corporate Site., 2016. Annual Reports. [online] Available at: https://www.brambles.com/annual-reports [Accessed 8 Dec. 2016].
Della Rocca, G., 2015. The definition and implentation of CSR strategy in multinational companies: cross industry analysis on the impact of CSR on global supply chain management.
Elms, D.K. and Low, P. eds., 2013. Global value chains in a changing world. Geneva: World Trade Organization.
Guarino, C.M., Reckase, M.D. and Wooldridge, J.M., 2014. Can value-added measures of teacher performance be trusted?. Education Finance and Policy.
Koo, B.K., 2016. The Smart Strategy for Side Branch Intervention: Still the Less, the Better?. JACC: Cardiovascular Interventions, 9(6), pp.527-529.
Lorange, P., 2013. Co-operative strategies: planning and control considerations. Strategies in global competition, pp.370-389.
Seuring, S. and Gold, S., 2013. Sustainability management beyond corporate boundaries: from stakeholders to performance. Journal of Cleaner Production, 56, pp.1-6.
Song, Y.B., Park, T.K., Hahn, J.Y., Yang, J.H., Choi, J.H., Choi, S.H., Lee, S.H. and Gwon, H.C., 2016. Optimal strategy for provisional side branch intervention in coronary bifurcation lesions: 3-year outcomes of the SMART-STRATEGY randomized trial. JACC: Cardiovascular Interventions, 9(6), pp.517-526.
Wang, S. and Xiao, X., 2016, July. CSR, strategy and financial performance. In Industrial Economics System and Industrial Security Engineering (IEIS), 2016 International Conference on (pp. 1-6). IEEE.
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