Management Practice and Theory | Report

Running head: MANAGEMENT PRACTICE AND THEORY
MANAGEMENT PRACTICE AND THEORY
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MANAGEMENT PRACTICE AND THEORY
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Introduction
Organizational effectiveness has been explained as efficiency whereby an association
is able to attain its effectiveness. This implies to the understanding that an organization
produces a desired impact or an organization which functions without waste. Organizational
effectiveness focuses on the capacity of each individual performing as per their skills and
competencies and doing well. According to Boersma (2015), in other words organizational
efficiency is the capacity of an organization for producing the desired outcomes with minimal
costs of time, expenditure and human as well as material resources. If any organization
constitutes organizational effectiveness as well as efficiency, it will achieve its purpose of
generating a profit by manufacturing as well as marketing product without any waste. The
following paper will discuss organizational effectiveness of Westpac Australia as it believes
on wellbeing of employees and their most efficient performance.
Discussion
Westpac’s Purpose and Scope of its Operations
Westpac purposes to develop as one of the world’s leading service companies and
aiding its clientele, communities as well as publics to thrive as well as develop (Boersma
2015). The company’s strategy purposes to supply based on its vision by establishing
integrated and enduring association with its customers by serving as a leader and being a
place wherein the most efficient individuals desire to work and deliver advanced teams for
stakeholders (Westpac.com.au 2020). Furthermore, while offering these services grounded on
the strategy, the organization chiefly concentrates on its key marketplaces of Australia as well
as New Zealand where they make provisions of comprehensive range of financial products as
well as services which would direct the organization in attaining financial services and shed
light on sustainable by building robust and integrated associations.

MANAGEMENT PRACTICE AND THEORY
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As per reports released on the NCOS Disclosure, Westpac’s operations has
cumulative GHG emissions of around 184,876 tonnes of CO2-e, further representing nearly
4.8% of decrease in emissions since 2016-17. Furthermore, the scope of Westpac’s
operations focuses on technological disruption along with changes in the labour source along
with competition for innovative and novel services as well as capabilities and evolving
operating models.
Strategic Planning as Criteria for Westpac’s organizational effectiveness
It is highly certain that banking industries of all across the world has changed
significantly after the financial crunch of 2008. Thus, in order to survive, banking
organizations like Westpac must take into account vital criteria for thrive successfully and
exhibit utmost effectiveness (Boersma 2015). A vital component or criterion for
organizational effectiveness is strategic planning. To my perspective, strategic planning as a
systematic approach make core business decisions and determines the strategies as well as
implementation of actions which influence and directs banks towards the future by
persuading its visions and scope of its operations. Furthermore, I believe, strategic planning is
a strong vital criterion imperative for Westpac Banking Corporation as through such an
attempt the organization can create strategic vision for its stakeholders. Moreover, an
established strategy will guarantee greater revenues to its clientele bas and will direct the
organization to deliver quality services as well as products to the clientele (Delery and Gupta
2016).
Stakeholders’ view on strategic planning
Westpac’s stakeholders such as creditors and employees use perpetual review to
evaluate the organization’s strategic planning as it has been performing. Furthermore they
analyse it through manageable pieces which are discrete enough to be easily evaluated in the
context of novel developments. Stakeholders’ approach of perpetual review to evaluate