Change Management Assignment: ANZ

Added on - 28 May 2020

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Running Head: Change ManagementANZChangeManagement
Change ManagementP a g e|1Executive SummaryAustralia and New Zealand Banking group is one of the largest commercial banks of Australia andNew Zealand, the bank also operates in the Pacific, Europe, Asia and The USA. Australian bankingindustry was going through the rough face due to the global economic crisis and hundreds of bankbranches getting shut, ANZ was also facing troubles due to the on-going crisis, as the population hadlost their faith in the banking sector. In order to manage the crisis and pull up the socks, ANZappointed John McFlaren as its CEO who then took the onus of bringing radical transformation in thebanking culture of ANZ. He promoted good banking habits, laid emphasis on the performancemanagement system, rebuilt the brand image of the bank by foraying into CSR activities. It was Johnwhose brilliant leadership and ability to propose implement and execute the process of changemanagement brought in stability to ANZ banking group.
Change ManagementP a g e|2Table of ContentIntroduction...........................................................................................................................................3Question 1: Describe and evaluate main features of organizational transformation under JohnMcFarlane tenure at ANZ bank..............................................................................................................4Question 2: Challenges for managers when implementing transformation strategies within theorganization to improve the corporate brand of the organization through internal culture change....6Question 3: Evaluate the attributes of the leaders and analyse their roles in influencing, directing andmanaging the change process at ANZ....................................................................................................8Recommendation to ANZ......................................................................................................................9Conclusion...........................................................................................................................................10References...........................................................................................................................................11
Change ManagementP a g e|3IntroductionAustralia and New Zealand Banking group limited is one of the largest and leading banks of Australiaand New Zealand. The Bank with a legacy of over 170 years has its headquarters in Melbourne,Australia. It is a public listed bank which employees over 35,000 people and services and operates in30 countries spread across Australia, Pacific, Asia, Europe, Dubai and The US. ANZ provides a rangeof Banking and financial services to retail, small and large businesses, corporate and institutionalcustomers. ANZ is really a strong organization when it comes to following and abiding by itsprinciples, the company proudly stands for Integrity, collaboration, accountability, respect andexcellence, the company strives towards a culture living these values. ANZ has been at the helm oftaking financial literacy to another level and spread awareness around the banking habits of thepeople, some of its landmark programs Saver plus and money minded have been extremelysuccessful in leading the way towards financial literacy. The company has seen all the phases ofbusiness cycle, moving from as high as crest to as low as trough, it was the able leadership of JohnMcFarlane that the company went through organization transformation and landed in a profitablestate.The purpose of the report is to answer the questions based on the case study which will provideinsight on the organization transformation in underwent under the leadership of John McFarlane,understanding the challenges managers face in implementing transformation strategies andevaluate the key attributes of successful leadership in influencing the process of changemanagement.
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