Goldcorp Vision Statement
Organizational Description
Vision Statement
“At Goldcorp, our vision, Together Creating Sustainable Value, describes why we’re in business.”
Goldcorp’s current vision is focused towards fostering sustainable mining operations coupled with promoting long-term shareholder value. As a leading gold producer in the world, the company is dedicated to responsible mining of raw materials while ensuring that the health and well being of all stakeholders; including, local communities, partners, suppliers, employees, govt. non-governmental organizations, locals, contractors and customers are maintained to the highest standard. The unique focus towards environmental sustainability has also enabled Goldcorp. to take proactive approaches to give back …show more content…
Strategic Objectives
Goldcorp is pursuing “disciplined growth” through growth through acquisitions strategy. Goldcorp acquired Wheaton River in 2005, Placer Dome’s Canadian assets and Glamis Gold in 2006. (interview)
Assessment of Organizational Strategy
The lowest cost provider is the best strategy in the gold mining industry, where the product could not be differentiated. This strategy fits well with the type of product produced; gold, silver, lead, and zinc; which could not be differentiated, and the company is able to sell all of the gold it could produce at the market price. Although Goldcorp is among the largest 10 gold producers in the world, yet Goldcorp produces only a small portion of the total gold available for trade worldwide, because gold lasts forever, and so gold mined continues to trade forever. Currently, there is approximately 177,200 tonnes of gold worldwide. Total world production in 2014 was 2,982 tonnes, to increase the gold available for trade worldwide by only 1.71%. Thus, not a single supplier has the power to affect the price of gold by changing the amount it supplies. Thus, minimizing cost is the source of generating greater value from gold
Vision Statement
“At Goldcorp, our vision, Together Creating Sustainable Value, describes why we’re in business.”
Goldcorp’s current vision is focused towards fostering sustainable mining operations coupled with promoting long-term shareholder value. As a leading gold producer in the world, the company is dedicated to responsible mining of raw materials while ensuring that the health and well being of all stakeholders; including, local communities, partners, suppliers, employees, govt. non-governmental organizations, locals, contractors and customers are maintained to the highest standard. The unique focus towards environmental sustainability has also enabled Goldcorp. to take proactive approaches to give back …show more content…
Strategic Objectives
Goldcorp is pursuing “disciplined growth” through growth through acquisitions strategy. Goldcorp acquired Wheaton River in 2005, Placer Dome’s Canadian assets and Glamis Gold in 2006. (interview)
Assessment of Organizational Strategy
The lowest cost provider is the best strategy in the gold mining industry, where the product could not be differentiated. This strategy fits well with the type of product produced; gold, silver, lead, and zinc; which could not be differentiated, and the company is able to sell all of the gold it could produce at the market price. Although Goldcorp is among the largest 10 gold producers in the world, yet Goldcorp produces only a small portion of the total gold available for trade worldwide, because gold lasts forever, and so gold mined continues to trade forever. Currently, there is approximately 177,200 tonnes of gold worldwide. Total world production in 2014 was 2,982 tonnes, to increase the gold available for trade worldwide by only 1.71%. Thus, not a single supplier has the power to affect the price of gold by changing the amount it supplies. Thus, minimizing cost is the source of generating greater value from gold