Annual Reports for Organization - Essay Example

Download file to see previous pages Even the clarity of the information and the data presentation will be analysed through the annual reports of the concerned companies. The analysis is generally based on the annual reports because by analysing it we can come to the decision that whether the operational and financial activities are in tandem with the policies laid for the same (Weng, 2011, p.9). Difference in the approach each organization presents in its annual performance Steel industry is very popular as far as occurrences of fatal injuries are concerned in factories. Thus Arcelor Mittal has improvised the steps in the prevention of the fatalities and injuries of the workers because this also leads to increase in the LTIFR (lost time injury frequency rate). So health and safety has been the main focus in the present annual report of the company. Since the prevention measure has already been achieved by US Steel they are targeting a zero LTIFR. In the recent annual report the main focus of US Steel Corp. is the investments made for coke and coke substitute products which will take care of both their purpose of long-term self sufficiency as well as environmental performance. Thus both the companies’ area of focus is different from the other in the sense that while Arcelor Mittal is more concerned about the preventive measures; US Steel is concentrating towards the achievement of the environmental performance. Clarity of data presentation and information Presentation of data and information is more systematic and is clearer in Arcellor Mittal as compared to US Steel Corp. Different department of the steel industry has been bifurcated in the annual report of Arcelor Mittal and a proper explanation follows the same which can be even understood by the investors who may not have much idea about the steel industry. The data sufficiently supported by charts makes the presentation of Arcellor Mittal much more acceptable in comparison to US Steel Corp. In US Steel Corp the data though presented in tandem with the information is not easily understood by investors not having much knowledge in this field. Thus Arcellor Mittal is clearer than US Steel Corp. with respect to data presentation and information. Goals, Challenges and Plans emphasised by the organisation in their discussion The study of Arcelor Mittal gives a clear understanding regarding its goals which are, to be the safest steel and mining company in the world, to be the most preferred supplier in iron-ore and coal industry with huge customer base and long duration of contracts, strengthening linkage between company and its employees, to lead in the field of manufacturing, processing and marketing of steel and all metallurgic products. The main challenges of Arcellor Mittal is in maintaining reliable records related to safety of the employees, reviewing the cost structure of the company on a regular basis, work more closely with upstream businesses to manage stocks better in order to reduce the cyclical volatility of the company in the share market. Recruitment of right personnel for the correct designation at right time is another challenge faced by the company and lastly lack of transportation infrastructure and environmental concerns may be a debacle for the company. The plans of Arcelor Mittal to be ...Download file to see next pagesRead More