Financial Management Strategies of Australian Banks: A Review

This assignment evaluates the financial management strategies of four major Australian banks: Commonwealth, Westpac, ANZ, and NAB. The research explores the conceptual understanding of financial management, the specific strategies employed by each bank, and the effectiveness of these strategies. The methodology includes both primary data collection through questionnaires and secondary data collection via content analysis. The study aims to understand how financial management supports the banks' long, medium, and short-term goals, considering the importance of financial management in areas such as procuring funds, making sound financial decisions, and increasing investor wealth. The report also outlines the research motivation, the disciplines involved, and the application of probability sampling with a simple random sampling method. This analysis provides a comprehensive overview of financial management practices within the Australian banking sector.

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Evaluating the financial management strategies of the top four Australian banks i.e.
Commonwealth, Westpac, ANZ, and NAB

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Research Topic
Evaluating the financial management strategies of the top four Australian banks i.e.
Commonwealth, Westpac, ANZ, and NAB
Introduction
This report will discuss several components such as research objectives, research motivation,
and conceptual information about the research concepts, and research disciplines.
Objectives
 To explore the conceptual understanding of financial management strategies
 To discover different financial management strategies used by top four banks of
Australia that are Commonwealth, Westpac, ANZ, and NAB
 To evaluate the effectiveness of the financial management strategies used by for top
banks.
Motivation of Research
This study could lead to the researcher to get data regarding financial management strategies
used by four different banks that are Commonwealth, Westpac, ANZ, and NAB. This will
facilitate the researcher to comprehend many research tools that will be imperative for the
accomplishment of the research goal named primary data collection method and secondary
data collection method. It could consider different sources like survey through questionnaire
method and content analysis method. Moreover, it will also support the researcher to evaluate
different financial management strategies used by the Commonwealth Bank, Westpac, ANZ,

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and NAB. The investigator will also comprehend approaches and strategies of research
methodology that could lead to reaching a reliable conclusion.
A brief introduction to the topic
In the present period, financial management has become a key concern for the
Commonwealth Bank, Westpac, ANZ, and NAB. Financial management provides a complete
review to the Commonwealth back regarding its financial situation and strategies of financial
management offer a plan to support in attaining long, medium, and short-term goals of the
bank. Besides this, financial management is important for Westpac Bank, as it comprises the
procurement of necessary finance to the business concern. Procuring required funds to plan a
key portion of the financial management, which comprises conceivable financing sources at
minimum cost. ANZ also make use of different financial management strategies in order to
make a sound financial decision in the business. The financial decision will influence the
complete operations of the business because there is a direct link between different
department functions like human resource, marketing, production, etc. In addition, for NAB
financial management is important in the arena of cumulating the investor’s wealth.
Definitive goal of every business is to attain a higher profit and increased profitability results
in the increasing investor’s wealth as well as the nation.

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Disciplines involved
This study is emphasizing on the financial management strategies used by top four Australian
banks that are Commonwealth, Westpac, ANZ, and NAB. This, it is evaluated that this
research is coming under the section of financial management.
Methodology
In this research, the researcher will consider primary and secondary data collection method to
conduct the research. The primary data collection will consider the survey through
questionnaire method while secondary information gathering process will entail the content
analysis method. For this, the researcher will apply probability-sampling tool with simple
random sampling method. For conducting this study, the investigator will select four top
banks of Australia that are Commonwealth Bank, Westpac, ANZ, and NAB and will evaluate
the financial management strategies used by them in order to attain long-term, medium-term,
and short-term objectives.