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Corporate Mission And Vision Statements

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Question:

Discuss about the Corporate Mission and Vision Statements.
 
 

Answer:

Introduction:

In the present competitive business environment, organizations look to develop different strategies for creating desired impact on the market. For the effective development of strategies, organizations need to develop proper mission and vision statement. Many studies have highlighted the fact that clear development of mission and vision statement allows organizations to implement clear decision-making process for the operational procedure (Korschun, Bhattacharya and Swain 2014). In this study, the focus will be provided on mission and vision statement of Brambles and Blackmores, as it will help to include effective comparison between two organizations. The study will also try to highlight the value creation process of Brambles and Blackmores in order to analyze the effectiveness of the implemented strategies and policies. Furthermore, the study will also try to provide in-depth analysis of CSR activities that both the organizations have implemented in order to achieve sustainable growth in the market. The study will also focus on the stakeholder management strategies of the organizations, as it can create major impact on the business processes.           

Comparison of mission or vision statement between Brambles and Blackmores:

As per the article by Harlow (2015) organization need to develop mission and vision statement it such a way so that it can able to direct the business towards a particular direction. Now, Brambles mission is to become the world’s leading provider of unique business solutions and support services (brambles.com 2016). Furthermore, Brambles mission is to create exceptional values on the mind of the customers. On the other hand, mission statement of Blackmores is looking to maintain highest standard of quality in each and every healthcare products they provided in the market (blackmores.com.au 2016). The comparisons between the two organizations are provided as follows:

Specific:

The focus organization Brambles is looking to increase the quality of logistic services for enhancing the satisfaction level of all the customers. On the other hand, the prime objective of Blackmores is increase the quality of the healthcare products for gaining competitive advantage in the market.  

Measurable:

Presently, Brambles has able to spread businesses across 60 countries in an appropriate way. However, in order to emerge as the leading logistics services provider of the world, it is looking to open business in more than 100 countries (brambles.com 2016). Conversely, Blackmores have developed more than 250 healthcare products and looking to increase the product range above 300 to achieve sustainable growth in the market (blackmores.com.au 2016).  

Assignable:

Brambles have already developed huge popularity in different parts of the world market with the superior quality of services. Therefore, it is very much achievable for the organization to expand the business in more than 100 countries. On the other hand, Blackmores has always invested huge amount of the R&D process for developing new products according to the needs of the market (Aguinis and Glavas 2012). Therefore, it is expected that the organization will able to increase the product range above the 300 mark.

Realistic:

The realistic objective of Brambles has focused on the effective enhancement of the provided services for increasing the satisfaction level of the customers. Conversely, Blackmores is looking to maintain the quality of the developed healthcare products until the time of reaching to the customers.

Time-related:

Both the organizations are looking to develop long-term plans for achieving sustainable growth in the market. Therefore, around 5 years time has been selected to fulfil all the objectives in an appropriate manner.

 

Comparison between values of Brambles and Blackmores:

As highlighted by Tantalo and Priem (2014) value creation allows organizations to distinguish itself from its competitors. Therefore, it eventually helps to gain competitive advantage in the market. Now, value addition strategy of Brambles is focused towards enhancing the satisfaction level of the all the stakeholders of the organization. Brambles have tried to develop effective both internal and external environment for fulfilling all the requirements of the operational process in an appropriate manner. For instance, Brambles have tried to provide similar opportunities to all the employees regardless of their nationality, skin colour, religion or caste. Value creation strategy of Brambles has also tried to include effective utilization of safety management procedures so that the entire process related to logistic operation can be fulfilled in an appropriate manner.  Furthermore, Brambles have also tried to evaluate maintain the legislative rules and regulations for adding value to the operational procedure. For that reason, Brambles have tried to develop different operational plans for different countries in order to achieve sustainable growth of the market.

On the other hand, Blackmores value addition strategies focuses on the quality enhancement process of the organization. For that reason, Blackmores have invested huge amount for in the R&D department so that it can able to fulfil the needs of the market in an appropriate way. Furthermore, it has tried to focus on the effective management of logistic and supply chain procedure so that the quality of the healthcare products remains intact. Blackmores have also tried to focus on the maintenance of effective internal environment for fulfilling all the responsibilities of the organization in an effective way (Fernandez 2015). Blackmore always has tried to maintain strong relationship with its distributors and raw materials suppliers so that it can able to fulfil all the business in an effective manner.               

CSR strategies of Brambles and Blackmores:

As highlighted by Carroll (2015) present complex business environment has influenced organizations to focus more on the sustainable growth perspectives. For that reason, CSR has emerged as one of the prime factors that organization can utilize for creating reputation in the global market. Both Blackmores and Brambles have tried to implement various strategies so that it can create maximum positive impact on the community. For instance, both the organizations have tried to implement several strategies for protecting environment for the future generation. For that reason, Blackmores have tried to reduce the amount of waste in the operational process for creating positive impact on the market. It has also tried to utilize such packaging material that does not have the capability to create adverse impact on the environment. In fact, Blackmores have tried to develop sustainable packaging system for the reduction of adverse impact on the environment. On the other hand, Brambles have tried to reduce the pollution level created due to the logistic operation process of the organization. For instance, Brambles have focused on monitoring wastewater discharge and air emission process of the organization so that it can add value to the organization (Vogel and Trapp 2014). Furthermore, Brambles have tried to convince all the suppliers to focus on the environmental management process for creating maximum impact on the sustainable growth perspective. Both the organizations have tried to implement CSR strategies in such a way so that it can help to represent itself as a responsible corporate citizen.        

Stakeholders mentioned in the corporate statement:

As per the article by Carroll ccand Buchholtz (2014), stakeholder management is key for fulfilling all the requirements of the business processes. Therefore, both Brambles and Blackmores have tried to develop effective stakeholder management strategies for achieving sustainable growth in the market. Stakeholders of an organization include several factors like investors, community, employees, employee family, customers, partners and government. Therefore, it is crucial for the organizations to handle all the stakeholders in such a way so that it can able to create positive impact on the business processes.

Business stakeholders

Figure 1: Business stakeholders

(Source: Fassin 2012)

As per the corporate statement of both Brambles and Blackmores, it can be assessed that both the organizations have their prime focus on the customer management perspectives. For that reason, organizations are looking to develop long-term relationship with the customers that eventually would create positive impact on the sustainable growth perspective. Furthermore, brambles have developed several strategies for influencing the investors to invest more on the business development perspective. This will help the organization to increase its reach in the global market (Verbeke and Tung 2013). On the other hand, both Brambles and Blackmores have tried to develop strategies for keeping employees associated with the organization for a long period of time. For that reason, both organizations have initiated several strategies regarding employee welfare for keeping the attrition rate under control. In addition, Brambles and Blackmores have tried to provide additional benefits to the employees like health insurance to the entire family member of an employee so that they can remain positive about their roles and responsibilities in the workplace. Furthermore, all the CSR activities of both the organizations are focused towards creating a sustainable environmental condition so that future generation also can lead a healthy life.

Conclusion:               

The study has highlighted the significance of developing proper mission and vision statement for achieving all the business objectives in an appropriate manner. The study has highlighted the fact that proper development of mission and vision statement allows organizations to to implement effective CSR and stakeholders management strategies, which is essential for achieving sustainable growth in the market. The study has highlighted different stakeholders that organizations have to handle for fulfilling all the requirement process in an appropriate way.

 

References:

Aguinis, H. and Glavas, A., 2012. What we know and don’t know about corporate social responsibility a review and research agenda. Journal of management, 38(4), pp.932-968.

blackmores.com.au, 2016. Blackmores vitamins and supplements- Australia's most trusted. [online] Blackmores.com.au. Available at: <https://www.blackmores.com.au> [Accessed 12 Dec. 2016].

brambles.com, 2016. Brambles. [online] Brambles Corporate Site. Available at: <https://www.brambles.com> [Accessed 12 Dec. 2016].

Carroll, A.B. and Buchholtz, A.K., 2014. Business and society: Ethics, sustainability, and stakeholder management. Nelson Education.

Carroll, A.B., 2015. Corporate social responsibility. Organizational Dynamics, 44, pp.87-96.

Fassin, Y., 2012. Stakeholder management, reciprocity and stakeholder responsibility. Journal of Business Ethics, 109(1), pp.83-96.

Fernandez, P., 2015. A definition of shareholder value creation. Available at SSRN 268129.

Harlow, H., 2015, April. Strategies for Social Media: Linking Vision, Mission and Goals With Metrics. In European Conference on Intellectual Capital (p. 150). Academic Conferences International Limited.

Korschun, D., Bhattacharya, C.B. and Swain, S.D., 2014. Corporate social responsibility, customer orientation, and the job performance of frontline employees. Journal of Marketing, 78(3), pp.20-37.

Tantalo, C. and Priem, R.L., 2014. Value creation through stakeholder synergy. Strategic Management Journal.

Verbeke, A. and Tung, V., 2013. The future of stakeholder management theory: A temporal perspective. Journal of Business Ethics, 112(3), pp.529-543.

Vogel, A.L. and Trapp, L., 2014. Corporate Social Responsibility.

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