Magna Worldwide Inc.

Magna Intercontinental Inc.

1 ) 1 HISTORY

Magna Intercontinental Inc. (Magna) is a manufacturer of vehicle parts since its inception in 1957 (At the time was called Multimatic Investments Limited). Founded by Frank Stronach, Magna features since turn into Canada's greatest automobile parts manufacturer. Magna is the principal supplier of automobile parts to many car manufacturers, including General Power generators, Chrysler, and Ford Engine Company. The following discussion is going to draw upon Magna's management approach, its quest statement, where the company happens to be, how the firm is doing, and whether it is consistent with what Magna stated to do. A PEST analysis will take into account of the macro-environment that Magna is pressured in the future outlook of regularly maintaining their reputation of what wishes to achieve in its objective statement. 2 . 1 CIRCUMSTANCE OF MAGNA'S STRATEGY: THE MISSION AFFIRMATION

In the great quantity of my research conducted on Magna, the beginning point would be the mission assertion. Ironically, Magna does not adhere to traditional objective statement. Rather, Magna took upon a unique approach by laying out crucial principles within their responsibilities into their " Corporate and business Constitution” and " Magna Employee's Charter”. Within the two of these statements with their purpose, Stronach developed a philosophy for Magna of which the company really wants to be called " a reasonable Enterprise Corporation”. Abiding that philosophy, Stronach stresses that includes not only to the supervision, but also to investors and staff within the Corporate Constitution and Employee Charter. 2 . 2 Magna's Worker Charter

It appears that fairness and concern to employees much more enunciated with Magna because of a separate charter exclusively generated for employees about the principles and what they present. Many of these guidelines related to the Employee Charter contain: Job Reliability, A Safe and Healthful Work environment, Fair Treatment, Competitive Salary and Benefits, Profit Involvement, Communication and Information, The Hotline, and Employee Associations. (1) Quite simply, the corporation plans to focus on its employees. I still find it very interesting that Magna did not made it for the Maclean's total annual list of Canada's Top 75 Employers pertaining to 2007 and 2008. (2) However , Magna's philosophy is usually not limited by the scope of Maclean's opinions. It really is whether Magna does deliver on the pledges in the past, present, and upcoming. In the Employee Charter, it stated that many employee ought to share the financial achievement in the company. One origin claims there exists uniqueness inside the corporation's traditions, confirming that Magna has profit showing plans and puts 10 per cent of pretax profits into employee deferred stock plans. (3) In addition to caring for the employees, Magna gives job therapies, training, and employee assistance programs to support the employees' needs of having an optimal match the corporation. Along with that, the fair treatment principle claims that the organization will only bottom equal chance on employees' performance and qualifications, simply no discrimination. To this date, there has been no breaking media that has tainted on Magna being prejudice within the place of work. To further enhance the ethics of the staff charter, Magna has even implemented its very own internal hotline open to any employee whom feels the fact that company can be not undertaking its component in maintaining its loyalty to its workers. This alone gives a good indication that Magna is doing its part remaining true to their philosophy, also to this day, there have been no reports as to whether any employee is definitely claiming that Magna has become breaking the promises. 2 . 3 Magna's Corporate Constitution

As Magna is dealing with its staff well within the organization, there is also a need for the employees to contribute to the organization in return. And just like every other business wanting inturn is: revenue. In the Corporate and business Constitution, Magna management...

Sources: (9) Strumpf, Deb. (Sep 24, 2008). Car buyers shunning gas hogs. Retrieved

October one particular, 2008, through the Toronto Superstar.

October three or more, 2008, coming from Report On Business.

Oct 3, 08, from TeamFate.

October three or more, 2008, coming from Yahoo! Financial.

Magna: 08 company account edition two, 14-16. Gathered October six, 2008, via

ABI/INFORM Global repository.

(14) Keenan, G. (Apr up to 29, 2008). Magna 's next car to get powered by electricity. Retrieved

March 3, 08, from Record On Organization.

October three or more, 2008, from Yahoo! Finance.

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