logo

ANZ Case Study of Change Management Analysis

   

Added on  2019-10-31

11 Pages2764 Words171 Views
ANZ Case Study of Change ManagementAnalysisCase Study AnalysisStudent Name:Student ID:Subject Name:Subject ID:Date Due:Professor Name:1 | P a g e

Executive Summary The Australia and New Zealand Banking Group Limited (ANZ) is one of the leading bank that isvery successful in the country in which it operates. The Company was established in the year 1835 in Sydney, which currently houses its headquarters. In view of the bank’s consistent underperformance McFarlane being appointed as CEO envisioned to bring about a change in the current structure of the bank. He aimed at restructuring the bank through his leadership. He aimed at creating an employment culture that was free form bureaucracy, who could function on values set. He appointed McKinsey, who in turn set performance parameters with set target and goals. ANZ set up three sets of performance parameters for their change management processes namely, Performance Planning, Performance Coaching and Performance Assessment. The Bank faced ones of its biggest challenge implementing engagement and support for cultural change. The change process was progressed from top as well as bottom levels, which required immense commitment to transformation processes. The scope of the report identifies the sudden change management process adopted by the Bank, which did not yield much value as against gradually progressive change management endeavor. 2 | P a g e

Table of ContentsExecutive Summary.....................................................................................................................................2Introduction.................................................................................................................................................4Case Analysis...............................................................................................................................................4Recommendation and Conclusion...............................................................................................................5Reference Lists............................................................................................................................................63 | P a g e

Introduction Change management is a necessary factor within organisation for creating sustainability and profitability[ CITATION You09 \l 1033 ]. Change management processes include a series of transformation steps that can lead employees into the changed process. The scope of the following report analysis deals with case study analysis of ANZ Bank. The Australia and New Zealand Banking Group Limited (ANZ) is a leading and largest bank amongst five most successful companies in Australia and also in New Zealand. The Company had gained tremendous success post its establishment in 1835, now it has expanded to various countries globally serving multitudes of investors, customers and countries[ CITATION Aik09 \l 1033 ]. The Company is publicly listed with consistent performance in various countries around the world. The Company has a shared cultural value based dimension with its employees and management. The Bank had been successful in developing several employee related programs which were extremely successful but there had been a major challenge faced by the Bank in 1990s. The Bankemployees had faced low employee morale and customer dissatisfaction along with other related issues, which led to appointment of McFarlane as a CEO[ CITATION Kla14 \l 1033 ]. He was focused on achieving transition in the Bank for achieving its success and sustainability for the future. The case study analyses challenges faced by McFarlane change management process, along with recommendations in order to overcome the same. Case AnalysisANZ Bank had been extremely successful in its various employee management processes. It has long history of customer satisfaction in its various phases of history but in 1990 it faced challenges in regards to poor performance, which led to its implementation of change management programs[ CITATION Ave08 \l 1033 ]. McFarlane, who was bent on creating long-termstrategic initiative for the Bank, envisioned the change management within the Bank. He viewed lack of banks performance in rural areas, due to which he withdrew from such areas and attendedto lack of senior women in higher ranks. He undertook concept of corporate social responsibility for extending competitive advantage within the industry. He went ahead with then job cuts for generating better cost-to-income ratios then further undertook organisational transformation processes[ CITATION Hay14 \l 1033 ]. His primary focus was to rapidly transform the organisation 4 | P a g e

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Analysis of Change Management in ANZ Bank
|15
|3415
|187

Change Management Assignment: ANZ
|15
|3464
|58

CHANGE MANAGEMENT | ANZ Bank
|10
|2568
|168

Change Management Page | 10 Running Head: Change Management ANZ
|13
|3470
|56

Organizational Change Management Assignment | ANZ Banking Corporation
|16
|3759
|266

Change Management in Organization - Report
|12
|3550
|59