Change Management Initiation by ANZ Bank Under the Leadership of John McFarlane

Running head: CHANGE MANAGEMENT
Change management
Name of the student
Name of the university
Author note

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Executive summary
The aim of this report is to discuss about the change management process being initiated by ANZ
bank under the leadership of John McFarlane. The challenges being faced by the organization in
the initiation of the change management had also been discussed in this report. The role of the
leadership in initiation of effective process of change management has been discussed in this
report. This report concludes that, initiation of the change management in the organization is
having both opportunities and challenges to be faced by the managers. However, ANZ bank has
benefited from the initiation of the change management.

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Table of Contents
Introduction......................................................................................................................................3
Key aspects of the organizational transformation of ANZ bank.....................................................4
Community development.............................................................................................................4
Initiation of the gender equality...................................................................................................4
Cost cutting initiatives.................................................................................................................4
Enhancement of the organizational culture.................................................................................5
Initiation of the leadership development program.......................................................................6
Challenges in the change management............................................................................................6
Attributes of key leaders at ANZ bank............................................................................................8
Recommendations............................................................................................................................9
Conclusion.....................................................................................................................................11
Reference.......................................................................................................................................12

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Introduction
Change management is being initiated by the contemporary business organizations in
order to adapt to the change in the market or business scenario. This is due to the reason that, the
current business scenario is having much more competition. Change management is being
implemented in different operational sectors of the business organizations (Hornstein 2015).
Thus, the more effective will be the alignment and coordination of the departments of the
business organizations, the more efficient will be the implementation of the change management.
However, implementation of the change management is having different barriers that should be
effectively identified. This is due to the reason that, implementation of the change management
involves determination of the interest of different stakeholders in the organization (Altamony et
al. 2016).
ANZ bank is one of the leading financial institutions in the Australia with having their
market presence in different locations around the world (Our company | ANZ 2018). They have
implemented successful change management in their internal management under the leadership
of their CEO John McFarlane in the late 1990s. However, though there are various competitive
advantages being gained by them through the initiation of the change management, there are
various issues also being faced by them. Moreover, the change management in ANZ bank
involves the huge role of leadership due to the reason that, the role played by their CEO was one
of the key factors for the successful implementation of the change management.
This report will discuss about the key transformation being identified during the tenure of
John McFarlane in ANZ bank. Moreover, the challenges being faced by the organization in the
initiation of the change management will also be discussed in this report. The role of the