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Analysis of Change Management in ANZ Bank

   

Added on  2020-05-28

15 Pages3415 Words187 Views
Running head: ANALYSIS OF CHANGE MANAGEMENT IN ANZ BANKANALYSIS OF CHANGE MANAGEMENT IN ANZ BANK Name of the Student Name of the University Author Note
Analysis of Change Management in ANZ Bank_1
1ANALYSIS OF CHANGE MANAGEMENT IN ANZ BANKExecutive SummaryThis report is based on the case study of Australian and New Zealand Banking GroupLimited (ANZ) which is one of the most successful and largest organizations of Australia anda leading banking organization in Australia. The major issues that are discussed in the casestudy are problems that were faced by the bank and ways by which the appointment of JohnMcFarlane as the CEO of the organization has changed the situation completely. Theprograms and strategies implemented by McFarlane are also discussed in the analysis. Thereport is concluded by saying that the leadership style of the CEOs affects the ways oforganizational transformation.
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2ANALYSIS OF CHANGE MANAGEMENT IN ANZ BANKTable of Contents1.Introduction.................................................................................................................32.Discussion of the three questions................................................................................32.1 Answer 1 - Leadership style or the elements related to change...........................32.2 Answer 2 - Internal change in culture..................................................................72.3 Answer 3 - Attributes of the leaders....................................................................93.Conclusion.................................................................................................................10References....................................................................................................................11
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3ANALYSIS OF CHANGE MANAGEMENT IN ANZ BANK1.IntroductionThe case study is based on the analysis of the Australia and New Zealand BankingGroup Limited or ANZ. This organization is considered to be the biggest as well as mostsuccessful in Australia and the largest and leading bank in New Zealand. The organizationfirst originated from the Bank of Australia in the year 1835 in Sydney. The Melbourne officeof the organization was established in the year 1838 and presently the headquarters of ANZ isalso located in this location. The organization has a huge number of shareholders in Australiaand ANZ has its operations in many other countries except New Zealand and Australia whichinclude, Europe, Dubai, the Pacific, Asia and US (Arnold et al. 2015). The organization hasbeen maintaining its profitable performance since the time of its inception. They were able tohold their position and profits even in the year 2008, where there was global financial crisis. ANZ has been split into mainly five divisions which include, New Zealand, Australia,Asia Pacific. The retail sector of the organization mainly delivers services like, mortgages,credit cards, savings, transaction banking and deposits. The organization has been dividedinto many divisions which include, Wealth management, commercial banking, institutionaland OTSS or Operations, Technology and Shared Services (Buble, Jurasand Matić 2014).The discussion in the case study is mainly based on the change management policy andstrategy of ANZ. 2.Discussion of the three questions2.1 Answer 1 - Leadership style or the elements related to changeJohn McFarlane was appointed at the post of the CEO of ANZ in the year 1990 afterthe organization had faced a tough time within few years. The program related to thetransformation of the organization was designed by McFarlane along with his managementteam and the major aim of this program was to achieve sustainable and competitive
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