Compare and Contrast the two Companies: CSL & MACQUARIE GROUP - Management Assessment Answers

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Task

Task Details: Compare and contrast the two companies in relation to the following:

1. A vision or mission statement.
2. Values of the organisation –
3. Corporate Social Responsibility/Sustainability
4. Stakeholders mentioned in their corporate statements

The comparisons must include an analysis of these statements as to whether they meet the SMART (Simple, Measurable, Achievable, Realistic and Timely) test for objectives and goals.

Are these statements of intention “believable” and do they add value to these

companies?

CSL - the Australian blood and serum products company and MACQUARIE GROUP the investment banking group

Executive Summary

The report compares and contrasts the corporate statements of CSL and Macquarie. Both the companies are different in their operations and the nature of the companies is also different. But then there will be some similarities in their corporate statements. The various aspects used in the report to compare and contrast the company are vision and mission statement, values, corporate social responsibility and stakeholders. The analysis has found out that there are a number of similarities in the corporate statements of both the companies. Along with that a number of differences also prevail. The SMART goal analysis has also been done. This analysis suggests that Macquarie needs to focus on time oriented corporate statements. It also suggests that CSL needs to focus on specificity of corporate statements. The SMART goal analysis was thus intended to found out the issues with corporate statements of both the organisations. This was followed by believable and add value which suggests that the corporate statements are adding value to the organisations.

Introduction

The aim of this report is to compare and contrast two companies that are CSL and Macquarie group on various aspects. CSL is blood and Serum Company in Australia. Macquarie is the investment banking group in Australia. The various aspects used in the report to analyse are vision and mission statement, values, corporate social responsibility and stakeholders. SMART goal analysis will also be done to ascertain the corporate statements of both the organisations. This will be followed by add-value and believable analysis of the corporate statements of the organisations. In this way similarities and differences of both the companies will be known.

Vision and Mission Statement

Macquarie and its vision and mission statement

The vision and mission statement serve as guideline to understand the company. The mission statement of Macquarie suggests that they want to uncover the opportunities that others miss. Macquarie also believes that success comes from encouraging people to act differently (Macquarie, 2014). The mission statement of Macquarie talks about promoting entrepreneurial and innovation drive. The organisation’s mission statement also explains risk management framework (Bushe & Marshak, 2009).

CSL and its vision and mission statement

The mission statement of the company suggests that it wants to serve the society in a better way. It also suggests that the company is highly dependent upon its stakeholders for the achievement of its objectives (CSL,2015). It further suggests that they always stress on better collaboration so as to achieve desired objectives. They do not talk about competing with others rather they talk about focusing on their own performance and doing everything they do in the best possible manner (Kenneth,2015).

Comparison and contrast between Macquarie and CSL

Values of the organisations

Values of Macquarie

The values of the organisations are highly dependent upon innovation and commitment to the customers. The organisation also talks about becoming profitable and being profitable is its major goal. The three major standing stones of the organisation are accountability, integrity and opportunity. The organisation also stresses on conducting the business as per the law and regulations.

Values of CSL

The values of CSL are majorly focussed on five aspects that are innovation, customer focus, collaboration, integrity and superior performance. The organisation is very passionate about meeting the customer needs. Continuous innovation is an integral part of the company values. In every business operation the company follows ethical principles and honest policies. The organisation always strives to perform superior.

Comparison and contrast between Macquarie and CSL

Corporate Social Responsibility in the organisationsCorporate Social Responsibility in Macquarie

The ESG (Environmental, social and governance) commitment reveals the responsibility of business towards shareholders, clients and the communities in which they operate. The ESG approach of the organisation talks about business code and ethics, maintaining environmental and social risk. It also revolves around people and workplace, sustainability in direct operations and engaging stakeholders (Andrews & Kenneth,2012). The company has a group wide environmental and social risk (ESR). The company makes sure that the clients are treated fairly while marketing services and products. The company seeks to reduce the use of resources, maintaining carbon neutrality, water management, and waste recycling and creating sustainable workplaces.

Corporate Social Responsibility in CSL

The company has corporate responsibility priority areas. The organisation keeps on researching new therapies for patients. They also talk about operating responsibly in the market place without affecting the interest of the customers. They also seek to provide positive working environment for our people. The organisation also talks about minimising the impacts of their operation on the environment. Overall the corporate social responsibility statement of the organisation doesn’t talk about environment much.

Comparison and contrast between Macquarie and CSL

Stakeholders of the organisations

Stakeholders of Macquarie

Macquarie talks about various stakeholders such as staff, clients, investors, shareholders, suppliers, regulators and wider community. As per the company they are the ones who play a vital role in the policies and procedures of the organisation. It seems that the organisation has missed on some stakeholders (Ghemawat,2015).

Stakeholders of CSL

There are a number of stakeholders in CSL that are patients, research partners, customers, regulators, policy makers, suppliers, license partners, in-license partners, health professionals, consumers, media, shareholders, employees and plasma donors. Thus, the stakeholder group of the organisation is much wider (John,2010).

Comparison and contrast between Macquarie and CSL

Analysis of corporate statements of the organisations using SMART framework

SMART Analysis of Macquarie

• Specific: The corporate statements of the organisation are very specific and it can be clearly analysed that they are related to the objectives the organisation wants to achieve.
• Measurable: It is easily measurable with the help of number of satisfied customers associated with the organisation.
• Achievable: It is achievable and this is clear with the company’s stand about being profitable (Zafar,2013).
• Realistic: All the corporate statements of the organisation are realistic in terms that they are backed up by investors.
• Time oriented: There is no mention about timeline in the corporate statements of the organisation.

SMART Analysis of CSL

• Specific: There is a lack of specificity in the corporate statement of the organisation. The statements are very elaborative.
• Measurable: It is measured in the form of successful treatments.
• Achievable: All the stakeholders of the organisation make it easier to achieve the goals.
• Realistic: The corporate statements focus on customer’s services and these are realistic (Vaaland, Heide, & Gronhaug, 2008).
• Time oriented: The company talks about timely achievement of goals in the corporate statements of the organisation.

In this manner the SMAR analysis suggests that Macquarie is not time oriented in achieving its objectives whereas CSL is time oriented. The corporate statement of CSL is not specific.

Believable and Add-Value analysis

The corporate statements of Macquarie and CSL are totally believable. There is no issue with its corporate statements and thus they are not difficult to believe. The analysis also suggests that they are adding value to the operations of the company (Denning,2013). There is only one issue with CSL that its vision statement is not specific and therefore some aspects of it are practically unbelievable. There is also one problem with Macquarie that it is not time oriented. There is no mention of time in its corporate statements (Stella,2010).

Conclusion

It can be seen that there are a number of differences in corporate statements of two companies. There are some instances when it can observed that either of the company may not be able to stick to the aspects that it discuses in its corporate statements. This makes it important to discuss about the corporate statements with respect to the SMART goals. It is necessary for Macquarie to focus on time aspect and make its corporate statements time oriented. It is also necessary for CSL to focus on its vision statement and make it specific.