Westpac's Policy Evaluation, Implementation, and CSR Assessment

This report provides an evaluation of Westpac's policies, focusing on the importance of revisiting various policies to avoid scandals and implementing strict monitoring of associated bodies like financial and insurance wings. The report emphasizes the need for a separate implementation task group with the authority to ensure proper policy implementation, measurable targets, and performance trackers like KPIs. Additionally, the report highlights Westpac's Corporate Social Responsibility (CSR) efforts through the Westpac Foundation, which funds educational institutes and other organizations. The company's commitment to strengthening communities through good business practices, balanced, sustainable, and transparent policies is also discussed, referencing their recognition as the 'Socially Responsible Bank of the Year' in 2014.

Evaluation
• The evaluation of the research is the area where the
evaluation of the discussed recommendation can be
made.
• The recommendation that the bank must be revisiting
its various policies are evaluated as very important in
terms of avoiding the scandals that has been continuing
in the company.
• The recommendation that there must be strict
monitoring on all the associate bodies such as the
financial and insurance wing of the company can be
evaluated as very necessary, as strict monitoring will
be there the unethical activities will be detected more
easily

Implementation
• The implementation of the various
recommendations and the corrective measures that
are taken has to be implemented throughout the
organization evenly.
• There must be a separate implementation task
group or committee that will be empowered with
the authority of questioning a particular department
or person if the policies are not implemented
properly.
• The implementation of such policies must be
measurable and must be tracked by various
performance trackers such as KPI

Corporate Social
Responsibility
• The Westpac Foundation has been funding various
educational institutes and also some other
institutes like CareerSeekers (NSW), Soft Landing
(NSW), Good Cycles (VIC), Vanguard Laundry
Services (QLD), and Muru Mittigar (NSW).
• The “Westpac Group’s social and environmental
leadership” got the award of “Socially Responsible
Bank of the Year at Money’s 2014 Consumer
Finance Awards”.
• The company states that they aim to strengthen
the people and communities by empowering them
through Good Business Practice which will be
ensured as a result of balanced, sustainable, and
transparent policies and decisions.

Thank You!