SWOT Analysis of ANZ Bank
Added on 2020-05-11
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Running head: Management Audit 1Management Audit
Management Audit 2ContentsIntroduction......................................................................................................................................2Mission and Governance.................................................................................................................2Strategic Position of ANZ Bank in respect with its SWOT Analysis, linking with environmental analysis............................................................................................................................................3Critique of the Organisational Management Function through PLOC............................................5Conclusion and Recommendations..................................................................................................8References......................................................................................................................................10
Management Audit 3Introduction Management audit can be understood as the assessment and the analysis of the capabilities and the competencies of the management of an organisation for evaluating their efficiency and effectiveness in respect with their business policies ad strategic objectives (Lin and Hwang, 2010). The key aim behind accompanying management audit is not to have a look or reward the performance of any individual rather to analyze and praise the management team in respect to their competition (Prawitt, Smith and Wood, 2009). The purpose of developing this report is to understand the mission and governance of the selected organisation i.e. ANZ Banking Corporation, analyzing eth strategic position of the company through evaluating its SWOT analysis and by developing a link with the factors of environmental analysis. The next part of thereport will perform analysis of the organisational management function of the organisation through the lenses of various management theories and PLOC framework for understanding the ethical position and core values of ANZ Banking Corporation. The report will end with a brief conclusion drawn from the overall analysis with few recommendations. Mission and Governance Mission Statement of ANZ Banking CorporationThe mission of ANZ Bank is to support in shaping the world where the communities and the individuals throve. And this is because ANZ strives hard for developing a sustainable and balanced economy where every individual can become its part and have improvement in their lives. According to the organisation, the value of banking cannot be evaluated in just cents or dollars but the actual worth of it lies in the associations which are developed by connecting with the businesses and the people. It is all about unlocking the hidden opportunities for empowering the communities to rapidly transform and develop. While examining the mission statement of thebank, it is analyzed that the main purpose of the company is to serve the masses and the stakeholders by having improved relationships but also to have a high focus upon the development of the economy. But there is not mentioned specifically regarding the stakeholders. Thus, it is evaluated that there must be a particular emphasis on the various stakeholders comprising of the community, suppliers, shareholders and the employees (ANZ, 2017).
Management Audit 4GovernanceBy performing an analysis of the governance offering of ANZ Bank in respect with the ethical decision making and controlling, organizing, leading and panning, it is evaluated that the organisation gives its employees and its strategies huge importance as they are its pillars of success. Its planning is long term by having a huge presence in the markets of Australia, the Pacific, and New Zealand as well as in the market of Asia. There can be seen ethicality in the decision making as it offers the customers with adequate and correct financial solutions as well as have its more emphasis on innovation and merger organisational culture so that it can have a better leading and organizing. It has also been evaluated that there is effective and efficient governance offerings as all the function and managerial aspects of the organisation are based upon five key aspects i.e. ANZ ensures that they is high level of excellence, respect, accountability, collaboration and integrity in all their work so to have a better and ethical organisational functional management (ANZ, 2017). Strategic Position of ANZ Bank in respect with its SWOT Analysis, linking with environmental analysis In order to perform the analysis and evaluation of the weaknesses and the strengths of ANZ Bankin the SWOT Analysis framework it is necessary to have a better understanding of the history of the organisation. In specific the analysis will be performed of the functional and the corporate strategies of the company (Klepek, n.d.). The Australian and New Zealand Banking Group Limited (ANZ) is a leading bank of Australia and New Zealand that possess a robust market share in the Australian banking industry. The organisation offers customized services and takes use of innovative technologies for offering personalized services to the customers. ANZ grounded in the year 1835 and placed its headquarters in Melbourne. The organisation attained huge recognition with its strong and potential business and management strategies (ANZ, 2017).
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