University Report: NAB Bank Non-Financial Performance Strategies

This report analyzes the non-financial performance strategies of NAB Bank, focusing on how the bank achieves its goals and market dominance. The report examines key metrics like take rate and customer retention, highlighting their impact on business growth. It explores the bank's strategies, including brand preference planning, market share acquisition, innovation, and customer experience, as outlined in the 2018 annual report. The analysis details how NAB Bank leverages brand preference, innovation, and competitive advantage to retain market share and foster customer satisfaction. The report also addresses the significance of the bank's culture, employee training, and customer-centric approach in achieving its business objectives. In conclusion, the report emphasizes the importance of a positive non-financial performance culture for the bank's success.

NAB Bank non-financial performance 1
NAB BANK NON-FINANCIAL PERFORMANCE
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NAB Bank utilizes several non-financial performance strategies that makes up its culture.
The aim is to achieve maximum goal realization and a wide market dominance. NAB Bank has
been able to obtain faster and successful development and business through its non-financial
business strategies (Grant, 2016). Take Rate and Customer retention and churn as non-financial
metrics of the NAB Bank are usually closely inter-related are usually applied according to the
annual report. A company that lacks good Take Rate and Customer retention and churn as non-
financial metrics is known to face challenges in achieving business growth and customer base
goals (Frynas, Mellahi and Pigman, 2006). This will paper non-financial performance business
strategies of NAB Bank. The alignment of Brand Preference planning, Market share, Innovation,
Customer experience and the business strategies is also elaborated in the report.
Recently according to the 2018 annual report, NAB Bank has acquired market share with
a higher customer retention rate and improved customer services. The bank aims at offering
enhanced personal computing skills to its creative professionals, professors, consumers, and
students in all areas they serve. Its improved tech innovative internet offerings, software, and
hardware facilitate delivery of computing experience to those who are its customers. The
alignment between marketing strategy and business strategy has shown success and assisted
NAB Bank in retaining their market share and value (Goldman & Gabriel, 2005). The success of
NAB Bank is directly associated with its use of several business strategies.
Brand Preference is the relative advantage of the bank’s business in association to its
competitors. If a company possesses a higher cumulative Brand Preference of its activities and
products compared to its competitors, then it is said to have the market advantage (Piccoli &
Ives, 2005). Also, a company that is aware of the brand preference difference between its
competitors and itself can implement ways to gain the brand advantage. Implementation of brand

NAB Bank non-financial performance 3
monitoring to all components of value creation in NAB Bank influences the realization of Brand
Preference advantage. Moreover, re-structuring for a minimum cost-value-chain enable
production, design, and marketing of products (Pisano & Verganti, 2008). Brand leadership
strategy requires companies to have control over cost. NAB Bank has utilized this strategy to
achieve maximum brand preference and great market shares.
According to the 2018 annual report, innovation advantage strategy has worked well for
NAB Bank because the company is well known. Development and research innovations,
employment and transportation innovations occupy a great portion of NAB’s competitive power.
The bank pays concentration to the power of innovations and applies measures to maximize the
customer experience (Safko, 2010). Innovation leadership in NAB Bank is facilitated by the
incorporation of several strategic chain management such as customer satisfaction chain.
Moreover, the company implements strategies that are growth centered for assisting it in the
realization of efficient and goal-oriented innovations (Shafer, Smith, and Linder, 2005). The
bank takes full control of all the strategies that help in improving the innovative advantage. If a
company has control over the restructuring of products, it can set the price for its profit gain.
NAB Bank has benefited a lot from Innovation leadership strategy. Although most of the
innovations are highly priced, customers take them more because they have a trust with the bank
(Srivannaboon & Milosevic, 2006). Competitive advantage is very critical for the
implementation of innovative leadership strategy.
Moreover, NAB Bank has a reputation of promoting excellence and individuality. The
company, therefore, attracts talented individuals into its workforce. NAB possess training system
that is used to train talented people yearly. Development of the training program by the
company aimed at recognizing employees’ performance (Lindgardt, Reeves, Stalk, and Deimler,

NAB Bank non-financial performance 4
2009). Practices in any company associated with achievement of its objectives are known as
culture. Employee reward motivates individuals to work hard for the increase in performance of
the company. The bank fosters a large number of talented people through this kind of culture.
Finally, NAB Bank takes care of their customer’s feelings. It allocates time for the
research on the customer’s needs. The research is aimed at collecting related data that is used to
develop products according to the customer’s demands. NAB Bank adheres to its objective of
satisfying customer demands. This kind of culture ensures that the company achieves maximum
customer retention and hence high customer retention realization. Creation of new products is
also performed in NAB Bank (Zott & Amit, 2008). Availability of new products means the
increase in product choices and customer satisfaction.
In summary, NAB Bank’s culture is important for the effectiveness of its non-financial
performance. The workers in the company help in the implementation of the non-financial
performance strategies. The existence of a positive non-financial performance culture in NAB
Bank facilitates achievement of its business objectives.

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References
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Goldman, R. and Gabriel, R.P., 2005. Innovation happens elsewhere: Open source as business
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Grant, R.M., 2016. Contemporary strategy analysis: Text and cases edition. John Wiley & Sons.
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Safko, L., 2010. The social media bible: tactics, tools, and strategies for business success. John
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