Discuss about the Comparison of the Vision or Mission.
Comparison of the vision or mission statement
According to the mission, statement Aristocrat envisages to establish a sustainable value for all of its stakeholders. It aims to achieve this mission by the provision of entertaining and innovative gaming solutions to all its customers present across the globe. On the other hand, the mission statements of Fortescue are observed to be objectifying to be the safest, lowest cost and most profitable producer of iron ore in the world. It could be observed that the statements of the mission of both the countries are very contradictory by nature. Aristocrat being a gaming company appears to have an in-depth understanding of what the customer’s want in the gaming industry and thus, has specific objectives to provide best services its customers by being specific in its technical aspects (Anderson et al., 2015). This company happens to be purely oriented to provide effective services to its customers through its measurable strategies regarding the operation of the gaming technology. Its business operations get reflected from the mission statement of the company; to provide good quality entertaining and innovative solutions to all its customers throughout the world which is very much achievable. Therefore, it can be stated that for establishing a sustainable value to its stakeholders, the company's very much oriented to provide best service to its customers rather than only directing its business towards achieving profit. In the case of Fortescue, it can be observed that the company is very much oriented in obtaining profit from all its business ventures and operation which is not necessarily a negative aspect (Bichet, 2014). The company is also assisting in building a sustainable approach to the extraction of the iron ore through safest and lowest cost means which I relevant from the mission statement of the company. The company is oriented in extracting best outcomes and efforts from the human resources it has for ensuring and maintaining its unique environment and culture in resonance with the vision of the company. From this aspect it can be said that Fortescue is much more oriented in making the human resources which is basically the people involved in the business operations of the company, to give their best output in terms of work in their respected fields (Christopher, Laasch & Roberts, 2016). Along with providing a sustainable approach to the business operations in the extraction of iron ore, the company is basically looking forward in retrieving the best of everything. The approach of the company is realistic as for an iron ore Extraction Company, the aspect of profitability is a must for the business organization to succeed and sustain in the global market. Being a heavy industry, employing huge labor is mandatory and getting best efforts from them is also realistic. However, the mission approach of the company is more centralized towards itself and not just rendering service back to the society.
Comparison of values of the companies
Aristocrat happens to value the courage, respect, passion, and integrity of the people along with the talent of the people, creative excellence and advanced technologies which help the company in delivering the best experience of gaming. Aristocrat values these qualities and aspects to the core which makes the company be successful in providing high-quality services to its customers along with supporting the business, people and the communities it is involved in. It can be observed that the values of the company are basically human values oriented which encourage people to get included in its business operations. This provides an amicable feeling and experience to the customers; human resource and stakeholders involve d with the company. On the other hand, the values of Fortescue revolve around the organizational culture that assists the company in taking actions and achieving success (Chance & Brooks, 2015). The values of the companies very centralized towards itself, the way it considers its human resource as its family and community reflects that the values of the compound are very much oriented in concentrating on itself other than thinking beyond it. This is definitely a time-saving approach that is facilitating the company simply to focus on its operations and success. However, it does not provide any space for the admiration and contribution to the society in general.
Corporate Social Responsibility/Sustainability
The focus on the corporate social responsibility or sustainable development is vital for every business organization since it contributes to the overall sustainable growth and development of a business entity and it ensures that all the business stakeholders enjoy various social, economic and environmental utility. The Aristocrat Leisure Limited takes necessary steps to support the surrounding community by doing charity work that reflects its business value. All of its 3,200 employees are motivated to contribute in the fundraising activities so that the local community gets benefit from such events. It organises “Global Volunteer Week” which unites all of its employees to volunteer their skills, effort and time to bring about a positive change in the society. Its strong commitment towards the sustainability performance is also reflected in its socially responsible and ethical approach towards the business processes. It takes part in various energy efficient programs, recycling initiatives, and proactive models in order to save natural energy and water. It makes investments in the technological aspects so that a responsible gaming system is developed (Glaeser, Stachel & Odehnal, 2016).
The Fortescue Metals Group Ltd. is another Australian company that takes its corporate social responsibility very seriously. Its commitment towards a sustainable performance is reflected in its focus on promoting a diverse workplace and addressing the various environmental challenges that exist in the current times. It wants to bring about a major change for the Aboriginal population that reside in the Pilbara region (Pettinger, 2013). This aspect of its CRR activity is different from that of Aristocrat firm since the latter focuses on the community around which it operates. The iron ore producer takes part in different volunteer initiatives to promote the highest standards of sustainability performance and it has also joined hands with United Nations Global Compact (UNGC) so that it can make a change in the society.
The stakeholders of a business concern form an integral part of the organization since they help in the very existence of the entity. The stakeholders include different parties such as investors, customers, community, employees, government, etc. The Aristocrat Leisure Limited gives due importance to its stakeholders by making an attempt to design the best gaming technologies so that it does not have negative impact on any of them. The business through four different segments including America, Australia and New Zealand, Digital and International Class III and it has been designed in such a way so that it can focus on its stakeholders from different corners of the globe. It focuses on the development and designing aspects of its offerings so that its customers, partners, employees enjoy the simple gaming solutions.
The Fortescue Metals Group Ltd. Concern believes in establishing a solid long standing bond with its various stakeholders that exist in the market environment including the customers, government, investors, etc. It values its strong relationship with its key stakeholders and believed in working together so that the operations are managed in a positive manner (Peterson, 2015). Just like its sustainability approach that focuses on the Aboriginal population, the firm places them in a central position of its stakeholder list so that the best opportunities are created for them. The entity believes that with the help of its stakeholders it can contribute to build better communities, protect the surrounding environment and make the Australian economy more robust and healthy.
The vision and/ or mission statement, values, sustainable approach and stakeholders form an integral part of any business organization that operates in the industry. All these aspects basically help a concern to follow the set framework so that its ultimate objective is achieved in the best way possible. The vision helps it to understand its ultimate objective that it wishes to achieve throughout its existence. The mission statement is created which focuses on the short-term approach that is adopted by the business concern to meet its goal. The corporate social framework acts as a guideline and helps the entity to run its business in the most efficient manner by taking into consideration its economic, social, environmental responsibilities. The organizational stakeholders are the most important segment since they together make up the business concern and help it to have a sustainability growth and development in the uncertain business environment. These management aspects of two vital Australian business companies namely Aristocrat Leisure Limited and Fortescue Metals Group Ltd. have been reflected here in a simple manner so that their approach towards these managerial activities can be identified and understood in an effective manner.
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