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The Organization of Westpac Bank of Australia: A Strategic Information System

   

Added on  2021-05-31

18 Pages3751 Words141 Views
Running head: STRATEGIC INFORATION SYSTEMStrategic Information System: Westpac Bank [Name of the Student][Name of the University][Author note]

STRATEGIC INFORMATION SYSTEM1Table of ContentsIntroduction:....................................................................................................................................2Part 1:...............................................................................................................................................3About the Organization: Westpac Bank......................................................................................3Structure of the bank: Westpac Bank..........................................................................................3Problems Faced by the Organization: Westpac Bank of Australia..............................................5Strategies adopted by the Organization: Westpac Bank of Australia..........................................7System Acquisition method: Westpac Bank of Australia............................................................9Control Problems in the System: Westpac Bank of Australia...................................................11Part 2..............................................................................................................................................12Accounting Software Packages.................................................................................................12Market Size................................................................................................................................13Market Leaders and Competitors...............................................................................................13Conclusion.....................................................................................................................................14References:....................................................................................................................................15

STRATEGIC INFORMATION SYSTEM2Introduction:SIS or the Strategic Information System can be defined as the Information System whichhas been developed in order to respond to the various business initiatives. In a business thereexists several business initiatives which are required for the purpose of making the organizationsuccessful and to reach all the goals and objectives of the organization (Galliers & Leidner,2014). The SIS or the strategic information system also associated with providing different kindsof competitive advantage which initially makes the organization very popular and significant foreveryone. The SIS is also subsequently associated with delivering typical services and productswhich are having extremely low cost and is focused upon the typical market segments. Anothersignificant advantage of the SIS is that it helps the organization in becoming much moreinnovative by providing different kind of innovations for the processes and operations of thebusiness. The SIS acts as an important feature or characteristic of the IS or the informationsystem. The SIS helps in categorization, storing, processing and transformation of theinformation (Arvidsson, Holmström & Lyytinen, 2014). The ERP or the Enterprise ResourcePlanning can be considered as the effective and efficient method which is used for the integrationof the processes of the business. Thus it can stated that it is an integrated management system formost of the business processes and this is mediated by different type of software. The literature review which has been done below is mainly associated with discussingabout one of the major bank present in Australia known as the Westpac Bank. The review isassociated with discussing about the selected ERP for the bank which would be helping them inconducting their various business processes (westpac.com.au, 2018). The review is alsoassociated with discussing about the requirements of the bank for various business processes, therequirements of the system and many more.

STRATEGIC INFORMATION SYSTEM3Part 1: About the Organization: Westpac BankWestpac Banking Corporation or Westpac is an Australian based bank and financialservice provider which has its headquarter in the Westpac Palace situated in Sydney. This is oneof the Australia’s “Big four” bank. This is the Australia’s largest branch network having almost1429 branches and 3850 ATMs. This is the Australia’s second largest bank in term of assets.This bank also has its branches in New Zealand and is the second largest bank over there. Thisbank started its business operations in the year of 1817 and was named as Bank of New SouthWales which was the first bank of Australia (westpac.com.au, 2018). Its core business activitiescan be classified into five key divisions which mainly includes the “Consumer Bank”,“Commercial and Business Bank”, “BT Financial Group”, “Westpac Institutional Bank” and“Westpac New Zealand”. Structure of the bank: Westpac BankThe structure of the Westpac bank mainly includes the management section along with thecorporate section. Along with the management and the corporate section there also exists themanaging bodies and the employees. The customers are also included in the organizationalstructure (Laudon & Laudon, 2016). There has been certain changes in the structure of theorganization. The Australian Financial Services or the AFS doesn’t exists anymore with theCEOs of the Westpac retail and business banking. This model is responsible for strengthening ofthe unique portfolio of this brand along with maintenance of the one team approach which hasbeen acting as one of the most important feature for the success of eth organization (Haux et al.,2013). The figure provided below shows the organizational structure of the organization:

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