Introduction to Management Report Assignment
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Added on 2020-05-28
Introduction to Management Report Assignment
Added on 2020-05-28
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Introduction to Management ReportWestpac Banking Corporation1
Executive SummaryThe Westpac Banking Corporation is an Australian bank and budgetary administrations supplierlocated in Sydney. Westpac has an extended and proud history as Australia's first and mostestablished bank. With the help of various strategic development method the organization hasdecided to expand their business process in numerous multi-national boundaries. By conductingan effective environmental analysis the study has focused to evaluate the strength and weaknessof Westpac Banking Corporation. The current strategy along with appropriate leadership styleused by the managers ofWestpac Banking Corporation has also been evaluated in this specificstudy. 2
Table of ContentsExecutive Summary........................................................................................................................31. Introduction.................................................................................................................................71.1 Vision, mission, core competences...........................................................................................71.2 Core Competence......................................................................................................................92. Successful Strategies deployed in the past................................................................................103. Environmental Analysis:...........................................................................................................113.1 SWOT Analysis of Westpac...................................................................................................113.2 PESTEL analysis of Westpac Banking Corporation...............................................................124. Current Strategies:....................................................................................................................134.1 Chosen organizational culture:................................................................................................144.2 Leadership style:.....................................................................................................................155. Conclusion:................................................................................................................................16Reference List:..............................................................................................................................173
1. IntroductionWestpac Banking Corporation is one of the most recognizable financial serviceproviders occupied a dominant place in the market of Australia. Headquartered in Sydney thisspecific organization is recognized among the four largest banks in Australia. The primary areaswhere Westpac Banking Corporation covers their financial services include Australia, NewZealand and various Asian Pacific regions. This particular organization primarily aims tooperate five specific divisions including consumer bank, business bank, BT financial group,Westpac industrial bank and Westpac New Zealand. The primary mission and vision of thisspecific organization is to expand the entire process of business beyond going the regionalmarket. Westpac Banking Corporation has achieved the image and reputation of anorganization in the soil of Australia due to the fast services to the customers. This particularbrand is very much flexible in giving effective financial services to the people of variousgeographical backgrounds and attitudes. As a result, the range of target market for thisorganization is wide. 1.1 Vision, mission, core competencesVision and Mission of WestpacWestpac built the vision statement to deliver its personnel with a clear direction and gaveits employees a duty to achieve within specified period of time. The company's vision is to beone of the world's extraordinary administration organisations, helping its clients, groups andindividuals to thrive and develop. The main focus of Westpac’s vision is:4
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