International Business Assignment | ANZ Bank's Strategy

Added on - 28 May 2020

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Running head: ANZ BANK’S STRATEGY FOR INTERNATIONAL EXPANSIONANZ Bank’s Strategy for International ExpansionName of the UniversityName of the StudentAuthor note
ANZ BANK’S STRATEGY FOR INTERNATIONAL EXPANSIONExecutive SummaryThe chief purpose of the report is to present an analysis of the banking scenario inBrazil, France and Korea and provide recommendations for ANZ Bank for internationalexpansion. The report further gives a brief overview of the bank and its current marketsituation. In addition, the report tries to analyze separately, the economic status of thecountries mentioned. In doing so, credible sources and reports have been used. In thereport, ANZ’s past expansion strategies and future planning have been clearlymentioned. The controversies that marred the company’s profile have been stated aswell. The report concludes with some recommendations for international expansion anda brief summary of the points discussed in the main body.
ANZ BANK’S STRATEGY FOR INTERNATIONAL EXPANSIONTable of ContentsIntroduction........................................................................................................................3Overview of ANZ Bank......................................................................................................4Market analysis of Brazil....................................................................................................5Market analysis of France..................................................................................................6Market analysis of Korea...................................................................................................7Strategy formulation for ANZ.............................................................................................9Recommendations...........................................................................................................10Conclusion.......................................................................................................................11References:......................................................................................................................12
ANZ BANK’S STRATEGY FOR INTERNATIONAL EXPANSIONIntroductionInternational expansion involves strategy for market entry that includes vitalchoices such as market focus, determining the target customers, allocation ofresources, services and product offering and so on(Chen et al., 2015).When it comes to banks, expanding to foreign lands require knowledge aboutthat country’s government as well as banking regulations (Considine et al., 2016). Inaddition to that, banks have to analyze the banking culture followed in the target nation.Amungo and Buck (2017), in a study concerning the expansion of Nigerian banksrevealed the relevance of various theories relating to internationalization oforganizations. The authors mentioned three specific theories that are the resourcebased view (RBV) theory, the eclectic theory and the transaction cost analysis (TCA)theory. According to the eclectic theory, banks have to explore the Ownershipadvantages that include managerial skills, specialized banking services, reputation andso on. Then, the banks have to focus on the Location advantages that are posed by thetarget nation including easy regulations, market size, and government interference andprofit opportunities. Lastly, the theory mentions the Internalization advantage thatconcerns internalization of operations of the bank in foreign market. The RBV approachsupports the view that banks have the advantage of managerial abilities, the brand’sreputation and organizational culture amongst others that help them expand in othercountries. As per the TCA theory however, focuses more on factors like the entry andtransact cost of the bank. The cultural proximity between two countries, property rights,legal concerns are included in the TCA factors (Cho, Lee & Lee, 2015).The given report focuses on the Australian and New Zealand Banking GroupLimited (ANZ) and its strategy to expand in Brazil, France and Korea. The reportprovides an overview of the bank and then proceeds to the market analysis that wouldhelp it formulate the required strategy for expansion. ANZ Bank currently hasheadquarters in Melbourne, Australia and after its Asian expansion strategy; it aims topenetrate into the European and South American market.
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