ANZ and Bitcoin: A Strategic Management Analysis

Running Head: ANZ and Bitcoin
ANZ and Bitcoin
Strategic Management

1
ANZ and Bitcoin
Contents
Introduction.................................................................................................................................................2
Background of ANZ with Bitcoin..................................................................................................................2
PESTLE Analysis of ANZ................................................................................................................................3
Porter Analysis.............................................................................................................................................4
Bitcoin Analysis............................................................................................................................................5
Conclusion...................................................................................................................................................6
References...................................................................................................................................................7

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ANZ and Bitcoin
Introduction
Australia and New Zealand Bank and short for ANZ is one of the oldest banks in Australia and is
known for becoming the fourth Largest banks in Australia. It operates in the field of retail and
commercial banking and is established since decades in these domains. It works in total 32
locations in the world and this is why it has become fourth largest bank (ANZ, 2018). It comes
under top 50 banks of the world and this reason itself brings honor to this bank. The major goal
of this bank is to lead in the business and become super national bank. The total number of
workers is 48,000 in the company all across world. As the market is developing for the Asia, its
desire is t o establish itself in Asia Pacific areas and invest approximately 30% of the profit
earned from American Areas into this establishment.
Background of ANZ with Bitcoin
Since the time when crypto currencies entered into the market, all the banks got the attention and
people started creating money for themselves by investing into these new crypto currencies and
doing the transactions. Today, these currencies are very famous in the world and it gained major
attention in the year 2016 to 2017. People started making money out of them since then. These
currencies works like swapping the use of cryptography for dealing safely with the money.
Decentralized electronic money system is used for the transaction purpose. This electronic
system works on the basis of the block chain and this block chain is a database of public and is
open for each and every person (Bhosale & Mavale, 2018). This is being used for making safer
transactions and different functions. The major reason for the success of the crypto currencies is
the safe transactions. When a person wants to be sure of the transaction that it is done to the
exact same person safely, then these block chain process is used. People find it as a great deal for
transferring the money safely. With the help of the block chain people can avail this process of
safer transactions. Out of many crypto currencies, one of the most famous and fluctuating is the
Bitcoin. This is also digitized and is handled electronically. The power cannot be transferred to
anyone else. Due to this, the usage of the software which solves the obstacles of mathematics has
risen up (Durden, 2017).