Strategic Analysis of Westpac

Added on - 28 May 2020

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Running head:STRATEGIC ANALYSIS OF WESTPACStrategic Analysis of WestpacName of the StudentName of the UniversityAuthor’s noteExecutive Summary
1STRATEGIC ANALYSIS OF WESTPACWestpac Banking Corporation is the one of the four major bank located in Australia thatoffers financial services all over Australia and New Zealand. They have a mission to providefinancial aid to the Australian dwellers so that they can raise their wealth. Their vision is togain leadership in the financial sector, for this reason, they always focus on customersatisfaction and they always try to bring innovation in their branches. They focus on womenempowerment as well. They provide financial support to the females so that women ofAustralia can establish their own business. The report has highlighted all these aspects. Theanalysis tools like PESTEL analysis tool, SWOT analysis tool and Porter’s five forcesanalysis tool have elaborate the factors by which Westpac can hold their position the market.The analysis tools have showcased the various opportunities by which they can retain theircustomer base. The threats, as well as the risks, have been detailed in the report whichWestpac must take into consideration and should mitigate. The analysis tools also illustratethat Westpac always focuses on innovation to gain the competitive edge.Table of Contents
2STRATEGIC ANALYSIS OF WESTPACIntroduction................................................................................................................................2Overview of the bank.................................................................................................................3Mission.......................................................................................................................................3Vision.........................................................................................................................................3Organizational culture and leadership style...............................................................................3Value Statement.....................................................................................................................3Objectives and leaders’ contribution......................................................................................3Analysis tools.............................................................................................................................4General Environments (PESTEL) analysis............................................................................4SWOT....................................................................................................................................6M. Porter’s five force analysis...............................................................................................7Conclusion..................................................................................................................................8References..................................................................................................................................9
3STRATEGIC ANALYSIS OF WESTPACIntroductionWestpac Banking is an Australian bank and they are the expert financial servicesprovider based in Sydney, Australia. There are four major banks and Westpac BankingCorporation is considered among the four. Westpac Banking has been chosen as the casestudy for this report.The analysis tool helps Westpac Banking to know their strength and weakness, theanalysis tools help them to know in which areas they should improve. SWOT, M. Porter’sfive force analysis, PESTEL analysis can help Westpac Banking to increase their marketshare and productivity. These tools can give them the facilities by which they can gain acompetitive edge over banking or similar financial institutions. The report will showcaseSWOT, M. Porter’s five force analysis and PESTEL elaborately.Overview of the bankWestpac Banking Corporation based in Sydney, Australia is considered as one of thefour major banks of Australia. They have subsidiaries all over Australia and New Zealand.They are known to provide customer oriented and institution oriented financial services(Jackson, 2016). They have collaboration with numerous foreign banks. They secure the topposition in the foreign exchange among all the Australian banks.Westpac Banking Corporation(Source:Pomering, 2017, pp. 171-190)MissionWestpac’s mission is to assist the citizens of Australia so that they can raise theirwealth. Westpac is known to cater the best financial solutions. Peter Lee Associates alongwith IRBSA has ranked Westpac much higher in domestic transaction banking (Pomering,2017). Their mission has been appreciated all over Australia and New Zealand.VisionWestpac’s vision is to gain global leadership in the financial sector. They need tofocus much on expanding their market share. Though they are providing services all overAustralia and New Zealand, however, they need to open subsidiaries in other global regionsto meet their motto (Vincent, 2016). They need to open subsidiaries in United States,European Nation and parts of the Asian subcontinent.
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