Strategic Decision Making Question Answer 2022

STRATEGIC DECISION
MAKING

Strategic Decision Making 1
Contents
Answer 1.................................................................................................................. 2
Explanation of BNZ’s organisational functions................................................................2
A range of informative programs..................................................................................2
Critical analysis of BNZ’s strategic actions.....................................................................3
Answer 2.................................................................................................................. 5
BNZ’s approach to corporate governance.......................................................................5
BNZ Workplace Diversity study.................................................................................. 6
Answer 3.................................................................................................................. 7
Strategic entrepreneurship combines the advantage...........................................................7
References................................................................................................................ 9

Strategic Decision Making 2
Answer 1
Explanation of BNZ’s organisational functions
BNZ is committed to being the greatest bank for the clienteles and shareholders. BNZ is
a subsidiary of National Australian Bank (NAB). The bank offers various financial services
such as retail, business and institutional banking. BNZ is employing to more than 5000
individuals in New Zealand. The organizational functions of BNZ includes:
 Retail banking: BNZ provides a wide range of products for the retail customers such
as funds and investments, credit cards, home loans, special loans, global banking and
insurance. The customers of BNZ are accessible to the bank by making use of
internet banking, telephone banking and by visiting 180 branches in New Zealand.
BNZ is offering digital investment to the customers to do banking through the online
and app. Almost 86% of the transactions in the bank take place digitally.
 Business: BNZ bank proposes an extensive range of banking services for small,
medium and large trades. The banking services include investments, transactional
bank accounts, loans and finance, insurance, card and payment, global banking
facilities to deal with the exports, imports and foreign exchange. The bank provides
training to its experts with the specialized knowledge of different sectors comprising
medical, agribusiness, professional, property, NPO, franchising and more. To
motivate small and medium businesses, BNZ has hired fifty new small business
bankers comprising twenty persons in a new hub in Hamilton, twenty in Auckland
and ten people in Christchurch. The bank is in a good position to maximize its
strengths in the growing sector.
 Institutional: The institutional banking division of BNZ offers wholesale banking
services for financial institutions, government organizations, large corporates. The
institutional segment of BNZ includes an extensive range of sectors like primary
industries, energy, manufacturing and retailing, health, local government,
telecommunications, and infrastructure. The business strategy of BNZ has taken
initiative for high-achieving New Zealand. The community finance program of the
bank assists to the low-income individuals to be good with the finance. The bank is
also collaborating with the partners to enhance the scheme.
A range of informative programs
BNZ assist to the communities by partnerships and volunteering. BNZ is meeting all
the requirements and has been approved to act as a banking partner for the government

Strategic Decision Making 3
agencies of New Zealand. BNZ is assisting agencies with card services, foreign exchange,
payment services, and transaction banking to public service agencies. On the other hand,
ANZ provides a wide range of services for the customers and also tailor services to suit
business requirements. The bank assists with transaction banking services for the capable
handling of payments and receipts comprising account structuring, digital banking and card
services. The bank even provides global trade facilities to support importing and exporting
necessities. ANZ is even dedicated to encompassing customer service through digital
workspace. ANZ even connects to the customers in New Zealand, Australia, Europe, Asia
Pacific, America, and Europe. The customers can edit, review and personalize their financial
recommendations through ANZ (Capie & Wood, 2019).
BNZ is empowering its female employees and is equally doing good for the women of
New Zealand. The bank makes sure that the female employees are completely engaged to
attain their maximum potential at the organization. BNZ has made efforts to empower women
contributing to the business strategy such as business edification, networking, and sustenance,
financial learning and plunket. BNZ has enabled education to over fifty women-specific
education workshops with over seven hundred attendees countrywide in various business
segments. The bank has one program, ‘women in the agribusiness’ has been designed to
assist New Zealand women in the agriculture sector and attain business goals. Networking
and support have been created for women at ‘very early lunch club’. It has been running for
the past five years and goals to link like-minded businesswomen arming with business
perceptions and the capability to construct new networks. The diversity in BNZ makes sure
that each member of the community contributes fully (Tahir, 2017). The bank believes that
good financial literacy is a crucial foundation and is committed to growing financial
knowledge of the targeted community. The bank enabled a financial education program
assisting women to make financial decisions in whanau and marae situations. The women
belonging to Maori have been supported through this program. Another initiative taken by
BNZ is a partnership with Plunket in 2013 to initiate a new fiscal literacy program for first-
time parents. The bank makes sure that pertinent financial education and volunteer
ambassador assistance represents the bank’s involvement (Warsh, 2016).
Critical analysis of BNZ’s strategic actions
BNZ has introduced a new platform so that customers can engage with the bank. The
bank has even robust underlying performance proved from its net profit such as NZ$451