Report on Dynamic Strategies of Westpac Banking
12 Pages2943 Words116 Views
Added on 2020-05-28
Report on Dynamic Strategies of Westpac Banking
Added on 2020-05-28
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Running head: Introduction of management Introduction of management
Introduction of management Executive summary The report outlines and explains the mission and vision statement, core competencies anddynamic strategies of Westpac banking association. It is leading and growing bank in Australia.In today’s competitive world, the organization is increasing its revenue and profitability byproviding enormous services to its clients. On the other hand, the paper depicts SWOT analysisand pestle analysis that help to identify and measure plans, policies, and approaches ofcompetitors. Along with this, it also explains challenges and risks which have been faced by thecorporation while conducting business operations globally. 2
Introduction of management Table of ContentsExecutive summary.....................................................................................................................................2Introduction.................................................................................................................................................4Task 1..........................................................................................................................................................4Description about the company..................................................................................................................4Mission, vision and core competencies...................................................................................................4Current and past strategies of Westpac banking corporation.....................................................................5Task 2..........................................................................................................................................................6Two controversies/ issues in Westpac.....................................................................................................6Task 3..........................................................................................................................................................6General environment (PESTLE) analysis..................................................................................................6SWOT analysis.........................................................................................................................................8Task 4..........................................................................................................................................................9Culture and leadership style within the organization..............................................................................9Conclusion...................................................................................................................................................9References.................................................................................................................................................103
Introduction of management Introduction The main objective of this task is to explain and analyze the trading activities andoperations of Westpac banking corporation. It is the largest corporation in Australia that providesseveral types of financial services to customers. It focuses on requirements, wants and demandsof the customers to make a good image in the global world. Furthermore, it explains mission,vision, core values, competencies and strategies of the corporation. In addition, there is a adiscussion about the pestle analysis and SWOT analysis that help to overcome the competitorsand to make a good financial position across the world. Leadership styles, organizational cultureand two issues of Westpac have been explained in the paper. Task 1Description about the company Westpac banking corporation is known as Westpac, it is an Australian bank whichprovides financial services to the customers worldwide. It’s headquarter is located in Westpacplace, Sydney. It is one of Australia’s big four banks in the world. The corporation serves approx13 million customers across the world. The structure of the organization is unique and dynamic.The structure includes 5 key division namely business bank, consumer bank, BT financial group,Westpac New Zealand and Westpac Institutional Bank. Along with this, the company providesseveral types of loan to consumers in order to satisfy their demand in the global market (Westpac,2017). The customer services of Westpac include loans, bank accounts, credit cards and sharetrading. Mission, vision and core competencies The vision of the company is to become one of the biggest service companies in theworld. Furthermore, it is helping communities, customers, and people to grow and prosper in thecompetitive market. The mission of the firm is to deliver effective and dynamic services byproviding superior returns for the shareholders and ensuring good customer relationship in theworld. In this way, the firm tries to provide best services to the customers (Johnson, 2011). Thecore competencies include teamwork, integrity, honesty, dignity, accountability, responsibility4
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