Strategic Relationship Management Assignment

Running head: INTRODUCTION TO MANAGEMENT
Introduction to management
Name of the student
Name of the university
Author note

1INTRODUCTION TO MANAGEMENT
Executive summary
The aim of this report is to discus about the corporate strategies being initiated by Westpac
throughout their operational history. This report also discussed about the criticisms being faced
by them in the recent time. SWOT analysis is being initiated in this report to identify the
opportunities and the challenges being faced by them in their business. This report also discussed
organizational culture and leadership style being practiced by them. This report concludes that
Westpac is having huge brand equity and value in the Australian market due to their rich history.
It is being identified that, the strategies of Westpac in their initial stage is quite different than
what they are now following. Moreover, they are having effective and efficient organizational
culture and leadership style for their employees.

2INTRODUCTION TO MANAGEMENT
Table of Contents
Introduction......................................................................................................................................3
Vision statement of Westpac...........................................................................................................4
Mission statement of Westpac.........................................................................................................4
Corporate strategies of Westpac......................................................................................................4
Initiation of the strategic relationship..........................................................................................4
Corporate strategy in nineteenth century.....................................................................................5
Corporate strategy in twentieth century.......................................................................................5
Corporate strategy in twenty first century...................................................................................6
Criticisms faced by Westpac...........................................................................................................6
Supporting organizations with unethical approaches..................................................................7
Breaching consumer protection repossession law.......................................................................7
Environmental analysis of Westpac.................................................................................................8
SWOT analysis............................................................................................................................8
Organizational culture of Westpac..................................................................................................9
Leadership style of Westpac..........................................................................................................10
Conclusion.....................................................................................................................................11
Reference.......................................................................................................................................12

3INTRODUCTION TO MANAGEMENT
Introduction
The current business scenario in every business sectors is challenging and competitive.
Moreover, in the current era of the globalization, the strategies being inherited by the business
organizations are much different that they had initiated in the past. In addition, some business
sectors are more competitive in nature compared to others due to the presence of more players
and other external factors. One of these intensely competitive sectors is the banking sector in
Australia (Beatty and Liao, 2014). This is due to the reason that, Australia is having number of
banking institutions currently operating including the big fours. Thus, the competition is intense,
which further lead to the initiation of the various corporate strategies by the organizations.
Westpac is one of the leading banking institutions from Australia with having their
market presence in different locations around the world. Moreover, they are being considered as
one of the leading banks among the big four of Australia (Westpac, 2018). Westpac is also
having the history of being the oldest bank of Australia situated in 1851. In all these years, they
have initiated different corporate and business approaches in order to effectively cater and
operate in the market.
This report will discuss about the strategic approach of Westpac through all these years
along with identifying and evaluating the change in the approaches and strategies. The mission
and vision statement of Westpac will also be discussed in this report. In the recent times,
Westpac faced various criticisms in relation to their business policies and for the unethical
business practices initiated by them. This report will discuss about the criticisms being faced by