Westpac Bank's Diversity and Inclusion Strategies: A Critical Analysis

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MBA 502 Assessment 2
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Table of Contents
Overview of Westpac......................................................................................................................3
Diversity in Westpac........................................................................................................................3
Sources.............................................................................................................................................4
Critique of diversity initiatives........................................................................................................4
Recommendations............................................................................................................................4
Additional sources...........................................................................................................................5
References........................................................................................................................................6
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Overview of Westpac
Westpac is a leading that is providing banking related services to its consumers from 1982. The
consumers of the company are completely satisfied with the policies of the organization and are
willing to invest their assets in the firm. It is the oldest company in Australia and also the first
bank of the respective state. The company is known for making use of the latest tools and
techniques in order to satisfy its potential consumers. The primary objective of the company is to
become one of the largest banking institutions in the world and to fulfil the aspirations of
potential consumers (Westpac.com.au 2019).
The respective firm is selected for the assessment because the firm has shown a great growth ion
last few years and scrutinizing its data will help in understanding some major concepts of
management. The study of the respective firm will help in visualizing the factors of management
in a clear and concise manner. The study of this company will help in enhancing the knowledge
regarding diversity (Westpac.com.au 2019).
Diversity in Westpac
For Westpac diversity is directly related to creativity and innovations. In this competitive era,
there is a number of organizations that are performing a similar type of business, and hence, it
becomes essential for the managers to enhance innovativeness in their company. It is the strategy
of the respective firm to include diversity in the organization so that the firm will be able to
understand the viewpoint of the consumers. The organization has also received a number of
awards for adopting diversity in the organization. The managers of the company try to recruit
employees of different religions and caste in order to promote diversity in the co0mpany. All the
employees of the company are treated similarly in the organization. By adopting this approach,
the managers of the company are able to fulfil the objectives of the organization in an effective
manner. The organization likewise focuses on providing employment opportunity to all the
deserving candidates such as male, female or unisexual. The managers do not discriminate the
employees because of their gender or disability (Westpac.com.au 2019). This helps in motivating
the employees and likewise enhances their potential to work with more enthusiasm in the
organization.
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Sources
The corresponding data is collected by scrutinizing the official webpage of the company. A
number of the journal article are likewise studied to analyze the importance of diversity in the
workplace.
Critique of diversity initiatives
With the increasing growth and development of the organization, it can be interpreted that the
policies or schemes adopted by the organization are productive and are essential for the
company. By evaluating the financial statements of the company, it can be interpreted that the
diversity-related policies adopted by the company are helping the firm in enhancing its
operations. It is likewise helping the firm in enhancing the level of performance of the
organization. By adopting an effective culture in the organization, the managers are able to
enhance the level of creativity and are likewise able to attract the number of consumers. With
regards to the success of the organization, it can be said that diversity plays a crucial role in the
development of an organization (de Aquino and Robertson, 2018).
Recommendations
Diversity is one of the significant elements that can help organizations in developing their
business and fulfilling the aspirations of the consumers. With the help of effective cultural
environment, the organizations are able to enhance their potential and sustainability. Some of the
strategies or factors that can help Westpac in enhancing diversity in the organization are as
follows:
 The firm must try to enhance its communication network. With the help of effective
communication, the employees are able to understand the perspectives of one another.
With the help of effective communication, diversity can be promoted in the organization
(Barak, 2016).
 The managers must try to provide language training to the subordinates. This will help
the employees in understanding each other and enhancing the scope of coordination in
the company (ANJORIN and Jansari, 2018).
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Additional sources
All the aforementioned recommendations are identified by evaluating different journals and
thoughts of the authors (ANJORIN and Jansari, 2018). By studying the thoughts of different
authors the sense of diversity can be understood in a more specific manner.
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References
 ANJORIN, R. and Jansari, A., 2018. Managing Cultural Diversity at the Workplace.
 Barak, M.E.M., 2016. Managing diversity: Toward a globally inclusive workplace. Sage
Publications.
 de Aquino, C.T.E. and Robertson, R.W., 2018. Diversity and Inclusion in the Global
Workplace.
 Westpac.com.au. (2019). Inclusion & diversity. [online] Available at:
https://www.westpac.com.au/about-westpac/inclusion-and-diversity/ [Accessed 7 May
2019].
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