Australian Business Management Practices

This assignment examines the management practices of two prominent Australian companies: Aristocrat Leisure Limited and Fortescue Metals Group Ltd. Students are tasked with analyzing various aspects of their management, including vision, mission statements, corporate social responsibility frameworks, and the role of stakeholders in ensuring sustainable growth and development within the dynamic business environment.

Introduction to Management
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Executive Summary
The assignment deals with the comparison and contrast between two business organizations,
namely; Aristocrat Leisure Limited (ASX: ALL) and Fortescue Metals Group (ASX: FMG). The
elaboration of the similarities and contrast between the vision or mission and the values of both
the organizations are done in the assignment. The illustration of the corporate social
responsibility, sustainability is conducted in the assignment. A comparative reflection regarding
the stakeholders involved in the functioning of both the companies is presented in the
assignment.

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.
Stakeholders
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.
Conclusion
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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