ANZ Cartel Scandal: Analyzing Ethical Behavior through Organizational Learning Theories

Running Head: THE LEARNING ORGANIZATION
The Learning Organization
Name of the Student
Name of the University
Author Note

1THE LEARNING ORGANIZATION
Table of Contents
1. Introduction.........................................................................................................................2
2. The ANZ Cartel Scandal – An Overview...........................................................................2
3. Analyzing the Ethical Scandal of ANZ Through the Use of Organizational Learning
Theories......................................................................................................................................4
4. Recommendations for Ethical Behavior for ANZ Bank.....................................................5
Conclusion..................................................................................................................................6
References..................................................................................................................................7

2THE LEARNING ORGANIZATION
1. Introduction
The ANZ Group, or the Australia and New Zealand Group is one of the foremost
banks in the country of Australia, enjoying a prominent position by virtue of its market
capitalization. It is the third most well known banking group in Australia after the
Commonwealth Bank and the Westpac Banking Corporation. Operations in Australia form a
major part of the business of ANZ, with both commercial and retail banking dominating such
operations. Even though ANZ is a bank that has been enjoying a good reputation worldwide,
and in Australasia for quite some time now, it recently ended up tarnishing its reputation
quite a bit by becoming involved in an infamous scandal that came to be known as the ANZ
Cartel Scandal of 2015 (Heller and Phillips 2017). In this report, an in-depth analysis is
carried out of the notorious Cartel Scandal that ANZ got involved in, by making use of
organizational learning theory for this purpose. The report identifies all the obstacles that
stand in the way of the process of organizational learning with emphasis on the ANZ Bank
and concludes with different and crucial recommendations on the type of ethical practices
and ethical standards that ANZ bank can adopt to once again regain its reputation and good
name in the world market.
2. The ANZ Cartel Scandal – An Overview
The ANZ Bank in the year of 2015 was faced with the mammoth responsibility of
raising as much as three billion dollars, the aim of doing so being to increase the bank’s
capital reserves by leaps and bounds. The ANZ Bank decided that this is something that it
was going to achieve by issuing new shares (Jose et al. 2018). Three renowned investment
banks in Australia were roped in by the ANZ Bank for this purpose, namely the Deutsch
Bank, Citi Group and JP Morgan. The intention behind this large scale collaboration was to