CSL Global Group Essay

Question:

Discuss about the CSL Global Group.

Answer:

Introduction

CSL Global group is a biotherapeutics specialty company, which provides services in Australia, Switzerland, Germany, America, and the UK. The company employs more than 16,000 workers in over 30 countries (csl.com.au 2016). Macquarie group, on the other hand, is the leading provider of funds, investment, advisory and financial management services to the major financial centers around the world (macquarie.com/au 2016).

The project aims at comparing and contrasting the business processes of the two companies based on their mission statements, values of the organization, stakeholders and corporate social responsibilities in the market. The project also aims at analyzing whether the companies are meeting with the SMART objectives and goals.

Vision and Mission Statement

CSL

The biotherapeutics specialty company aims at developing biotherapies, which are innovative and are helpful in saving lives of people having life threatening medical conditions. The focus of the company is on the life-cycle management, safety of product portfolio and new product development (csl.com.au 2016). The company is eager to invest on its Research and Development sector in the future such that to incorporate the latest technology within its product development process. The company has also a strong commitment for the funding of the innovative medical products in order to fulfill the medical needs of the patients in the future.

Macquarie group

The aim of the Macquarie group is to diversify its business process, which could be covering a wide range of capital and advisory markets, trading, asset finance, funds management and other financial sectors in the market. This integration of the diversity of the operations together with a strong risk management framework and strong capital positions has put the company to an unbroken competitive advantage in the market. Adopting the name of its creator with the holey dollar as its symbol, the company aims at incorporating its quest of practical approaches in order to generate profitable outcomes (macquarie.com/au 2016).

Smart objectives

Goal 1: Developing and diversifying the business process

Key Component

Objective

Specific

CSL- developing biotherapies, which are innovative

Macquarie- diversifying business process conering a wide range of financial sectors

Measurable

CSL- fulfill the medical needs of the patients

Macquarie- generate profitable outcomes

Achievable

CSL- Yes, by incorporating the latest technology within the product development process

Macquarie- Yes, by integrating the diversity of the operations together with a strong risk management framework

Realistic

CSL- invest on Research and Development sector

Macquarie- integration of the diversity of the operations with a strong risk management framework

Time-Bound

CSL- Within few years

Macquarie- As soon as possible

SMART objective: to maintain strong position by gaining competitive advantage in the market

Source: Created by author

Values of the Organization

CSL

The company look for synergies with existing business units and consider opportunities in the therapeutically categories that could help in improving the unmet medical needs of the patients. The business operations of the company integrates a well characterised properties, well validated data and a defined mechanism of action that has helped it in gaining A strong intellectual property position in the market (csl.com.au 2016). The company also conducts clinical trials and scientific advisory panels in order to develop capabilities for supporting the early stage research opportunities in the market (Gr?ne et al 2014).

Macquarie group

Macquarie integrates opportunity, accountability, and integrity principles within its business approach in order to realize the benefits of its stakeholders (macquarie.com/au 2016). The company encourages ingenuity, innovation and entrepreneurial spirit within its stakeholders such that to enable them to achieve and succeed in the long run. The company realizes the significance of opportunity and integrates the same to be a part of its team members. The company also believes in maintaining its standards and taking responsibility for all the action of its stakeholders while making business decisions. The company also incorporates high ethical standards within its business culture such that to earn the trust of its stakeholders.

Smart objectives

Goal 2: Integrating opportunities and various principles within the business approach

Key Component

Objective

Specific

CSL- synergies with existing business units

Macquarie- integrating opportunity, accountability, and integrity principles within its business approach

Measurable

gaining a strong intellectual property position in the market

Achievable

CSL- integrating a well characterised properties, well validated data and a defined mechanism of action

Macquarie- maintaining its standards and taking responsibility for all the actions while making business decisions

Realistic

CSL- clinical trials and scientific advisory panels

Macquarie- Stakeholders are the main resources

Time-Bound

CSL- Within a few years

Macquarie- Within a few years

SMART objective: to develop capabilities for supporting the opportunities in the market

Source: Created by author

Corporate Social Responsibility

CSL

CSL group integrates the Corporate Social Responsibility (CSR) in order to conduct its business processes in an ethical way. This integration of the Corporate Social Responsibility within the business process also help the company in contributing to the social, economic, and environmental well-being of its communities as well. The various CSR priority areas of the company include the Research and Development, therapeutic, working, biomedical, and other business environment (csl.com.au 2016). The company also implements the business practice codes that help in guiding and shaping the way it conducts its business process. Moreover, the Corporate Responsibility Steering Committee helps in driving integration, awareness, and improvement of the CSR throughout the company.

Macquarie group

Macquarie group integrates the Environmental, Social and Governance (ESG) commitment in its business processes which helps the company in focusing on the areas that are considered material to its business (Kuszewski and Crowther 2012). Macquarie group also implement specific Code of Conduct, which deals in the areas reflecting the risk and opportunities for the company. The business and the issues of interest of the company’s stakeholders identify this code of conduct as followed by the company as well (Klettner, Clarke and Boersma 2014). The code of conduct governs the various economic, social, and corporate factors for the company including the environment, workplace, markets, stakeholders, and the sustainability of the company in direct operations as well.

Smart objectives

Goal 3: Include the CSR in the business areas which are considered material to the business

Key Component

Objective

Specific

CSL- priority areas of the company include the Research and Development, therapeutic, working, biomedical, and other business environment

Macquarie- focusing on the areas that are considered material to its business

Measurable

CSL- improvement of the CSR throughout the company

Macquarie- enhanced sustainability of the company

Achievable

CSL- prioritizing the areas of the company include the Research and Development, therapeutic, working, biomedical, and other business environment

Macquarie- integrating the Environmental, Social and Governance (ESG) commitment in its business processes

Realistic

CSL- Corporate Responsibility Steering Committee

Macquarie- Environmental, Social and Governance (ESG) committee

Time-Bound

Within a year

SMART objective: to govern the corporate factors in order to gain sustainability in the market

Source: Created by author

Stakeholders

CSL

The stakeholders of CSL group include the shareholders, employees, governments, investors, and suppliers. CSL implements polices that governs the directors and employees towards the ethical concerns in the situations of potential conflict of political involvement, interest, financial inducements and bribery. The company commits to operate with the highest integrity such that to gain the trust of its stakeholders and infuse confidence in them. The company has engaged with NAVEX, which helps, in facilitating the reporting of the queries and concerns of the stakeholders of the company (csl.com.au 2016). This engagement of NAVEX promises in investigating and resolving the concerns and issues of the stakeholders.

Macquarie group

With the experienced Board members and business leaders, Macquarie aims at delivering long-term profitability and returns to its stakeholders by implementing the standards corporate governance and managing the market risks. The stakeholders of the company includes is the investors, clients, suppliers, governments, employees and the wider community. The company incorporates the environmental, social and governance (ESG) commitment that reflects on the responsibility for its clients and communities and stakeholders as well (macquarie.com/au 2016). The company believes in building strong relationships with its stakeholders fro maintaining trust and enhancing the business performance as well.

Smart objectives

Goal 4: Gaining trust and confidence in the stakeholders

Key Component

Objective

Specific

operating with the highest integrity such that to gain the trust of its stakeholders and infuse confidence in them

Measurable

CSL- implements polices that governs the directors and employees towards the ethical concerns

Macquarie- long-term profitability and returns to its stakeholders

Achievable

CSL- implements polices that governs the staheholders towards situations of potential conflict of political involvement, interest, financial inducements and bribery.

Macquarie-

Realistic

CSL- engagement with NAVEX for facilitating the reporting of the queries and concerns

Macquarie- Establishing Environmental, Social and Governance (ESG) committee

Time-Bound

Within a year

SMART objective: to enhance the business performance of the stakeholders

Source: Created by author

Conclusion

The project is an assessment of the business process of two companies, which helps in applying to the understanding of the impact of the same within the organizations. The comparison of the business processes of the companies is based on the mission statements, values, stakeholders, and Corporate Social Responsibility of the organizations. The comparisons include the analysis of the business goals and objectives of the organizations in respective of the Smart objectives. This comparison of the organizations is conducted in order to check whether their business goals are meeting with the SMART objectives in the long run.

References

csl.com.au, (2016). CSL Ltd is a leader in plasma protein biotherapeutics. [online] Csl.com.au. Available at: [Accessed 11 Aug. 2016].

Gr?ne, G., Lockemann, S., Kluy, V. and Meinhardt, S., 2014. Business Process Management within Chemical and Pharmaceutical Industries.

Klettner, A., Clarke, T. and Boersma, M., 2014. The governance of corporate sustainability: Empirical insights into the development, leadership and implementation of responsible business strategy. Journal of Business Ethics, 122(1), pp.145-165.

Kuszewski, J. and Crowther, Y., 2012. Canada and the green economy.

macquarie.com/au, (2016). Company profile | Macquarie Group. [online] Macquarie.com. Available at: [Accessed 11 Aug. 2016].

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