Introduction to Management

Introduction to management

Organization behavior
Executive summary
In this paper the discussion will be on the Westpac Company. In the first phase of the report the
focus will be given on the strategies which are considered in the past and also in the present
scenario. The purpose of the report is to conduct in-depth analysis of the overall strategies of the
company and also to find out the ways in which the company can attain its competitive
advantage. It will be important for the company to conduct in-depth analysis as it can help in
considering the accurate decisions in the workplace. By analyzing the overall report, the key
outcome which is derived it is related with considering the best strategies so that growth can be
attained by the company in the market.
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Organization behavior
Table of Contents
Executive summary.........................................................................................................................1
Introduction......................................................................................................................................1
Task 1...............................................................................................................................................1
Strategies deployed by Westpac Company..................................................................................1
Mission, vision and core competencies........................................................................................1
Successful strategies deployed in past.........................................................................................1
Current strategies.........................................................................................................................3
Contingency approach considered by Westpac Company...........................................................3
Task 2...............................................................................................................................................3
Criticism of business practices.....................................................................................................3
Task 3...............................................................................................................................................5
SWOT ANALYSIS......................................................................................................................5
External environmental analysis..................................................................................................6
PESTLE ANLAYSIS...............................................................................................................6
Specific environment analysis.....................................................................................................7
Internal analysis...........................................................................................................................8
Resource based model analysis................................................................................................8
Task 4...............................................................................................................................................9
Organizational culture and leadership style.................................................................................9
Conclusion.......................................................................................................................................9
References......................................................................................................................................10
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Organization behavior
Introduction
Westpac was established in 1817 and there are more than 35,200 employees who are assisting
more than 12 Million customers in Australia, New Zealand and also in the Asia Pacific Region
(Westpac, 2018). In this report, the discussion will be made on the Westpac Company.
Task 1
Strategies deployed by Westpac Company
It is important to consider effective strategies by the companies as it can help to enhance the
growth in the competitive market.
Mission, vision and core competencies
The vision and mission statement of the company is “To be one of the largest great service
organizations that help the customers, communities, and people to prosper and grow”. The core
competency of the company is related with the customer focused strategy which is considered by
the company and the emphasis is also given on the values and culture of the company. The
company earns trust by considering the highest standards related with honesty and ethical
behavior.
Successful strategies deployed in past
SIP’s program strategy
The strategies considered by the company in the past are related with technology plans that
emphasize on the strategic investment priorities. It can be stated that in 2008, Westpac enhanced
its entire strategic focus in relation to technology. The emphasis is also on bringing
improvisation in the reliability in context to the development technology strategy and
implementation plan. The company considered the set of strategic investment priorities which is
created to focus on technology strategy and to help the group to deliver its customer focused
multi brand strategy. In 2010, the company implemented the SIPs program and proceeds over the
next 4 years. In this program the group executive is accountable for the overall costs and
benefits. The financial implication of SIPs was $2 Billion, and it was 5 year investment program
which consolidated the overall project investment. The capital expense enhanced from 2011 by
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