Look at the Corus Organisation
One of the most important stakeholders are the people that invest their own money into the company, and for Corus this is the Shareholders. Corus plc has over three billion shareholders, each of them entitled to information into the companies performance and position in the market. Corus goes to great limits to make sure that all their shareholders are happy, offering them quarter yearly progress reports and detailed information into the businesses financial performance and status.
Annul dividends paid my Corus will vary as they offer shareholders 35 percent of its estimated annual average earnings over the course of the business cycle. What many experts claim to be the most important stakeholders is the staff, this is why Corus aims to treat all their employees equally and offer them the best opportunities to become successful within the firm.
The company states that they believe “All employees must be assured of clear and open access to management to discuss matters of personal concern as well as those of wider interest to the Group”. This statement shows how Corus tries to encourage an open and relaxed atmosphere in its workplace, where employees feel like they can talk to their managers about any concerns they might have, this sort of atmosphere can lead to a very productive and efficient organisation.
Not only do Corus try to encourage an open relationships in the workplace, they also believe that adapting the organisation to changing circumstances is of the up most importance in the unpredictable business world of today, and this is why they believe strongly in Team working, they agree that “Teamwork enhances effective decision-making by minimising hierarchical levels and generates commitment through greater responsibility and involvement. It promotes flexibility, co-operation, mutual trust and respect, and values safe behaviour.
” This statement shows how Corus are dedicated to producing a flexible and reactive company that can handle any changes that might occur in the market, many companies today have introduced team working and it is seen as the future of business, and this shows how Corus are aiming to become well established in the market of future. Corus invest heavily on recruiting and promotion within the firm, making sure that they gain the best and most efficient workforce available to them.
They state “Corus strives to be a true learning organisation, where people will feel inspired to invest in personal development”. Corus prides itself on trying to help employees to grow and learn in their jobs, and not just do their job and go home, Corus want their employees to feel part of the organisation and want to help it achieve dominance in the market. Corus supply there steel to a number of different markets, including construction, automotive, packaging, aerospace, energy and engineering industries.
Corus treat there customers in the best possible way, in order to keep good relations for future sales, they offer the cheapest prices that they can and try to deliver on time every time and without complications. When Corus plc took over from British Steel in 1999 they decide to continue some of the links with the suppliers that British Steel had established. The reason for this was that the company had used these suppliers for many years, and a working relationship had been built up over the years, and the new owners didn’t want to ruin any of this good work.
However what Corus did was do an evaluation of all the available suppliers and compare their prices to the current suppliers, to see if any money could be saved. Corus has so many different suppliers all across the world, it would have been impossible for the new owners to change all the suppliers. In 1999 Corus and Hoogovens of Denmark merged together to form one company, which is know as Corus. These two companies combined their resources, so that they could become more completive in a market, which is very unstable.
Corus acquire a majority of their income from turnover, the sales they make over the financial year. Another source of finance is from shares, even though the share price is very lower at the moment, Corus share income takes up around 15% of the company’s total income. Another source of finance that Corus gain is from the government on occasions, this is because Corus offer a lot of new jobs for the countries they work in.