Evaluating the Strategy, Organization and Performance of ANZ Bank
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Through some of New Zealand's best known financial brands, including ANZ, The National Bank, UDC Finance, EFTPOS New Zealand, Bonus Bonds, Direct Broking and ING NZ, the organization enjoy remarkable scale, diversity, resources and influence. They also have global reach as a member of the ANZ group of companies.
From individuals and families, to the small businesses that are the lifeblood of New Zealand economy, to largest institutions and corporations, ANZ play a key part in helping many New Zealanders achieve their financial aspirations.
Organisations mainly use communication to make their staff, groups or individuals, to perform directed tasks in well co-ordinated way. Communication is the only way to pass, obtain and share the information so good and effective decision will come out and appropriate action can be perform towards the goal of organisation.
ANZ in New Zealand is led by a group of the organization's most senior managers who are responsible for the long-term success of the company.
Business demographic analysis uses to figure out the maximum potential customer live. For example, for a dairy shop or a Food Takeaway residential area has more potential of customers than industrial or market zone because it sale product of one's routine needs. ANZ is providing the banking service which is one of initiative nowadays so demography for this organisation is all the place where economically affected individual lives, work or spend their time.
The industrial and market zones are very easy to access for customer because of their routine work place and spending their leisure time in shopping. Competition is also one of the key factors in recent era which affect the business demographics.
In New Zealand ANZ Bank having tough competition in banking industry so they have their branches available in almost all the community or area. Even to make banking facility easier to the customer they introduced Automatic Teller Machine (ATM) since 1980 which offers depositors 24 hours access to fund.
As a bank that is represented in New Zealand, Australia and around the Asia Pacific, ANZ is uniquely placed to connect New Zealanders to the rest of the world.
Through World Visa they offer to their customers more flexibility and choice - enabling them to redeem their points for travel wherever and whenever they like. For example ANZ Bank has branches in most of all community major availability in markets. The bank branches are providing better services and connectivity to the customer and local small business outlets.
Organisational goals are basically the pre fixed objectives to achieve it with help of organisational values towards which whole organisation works.
The communication is the key term to achieve desired goal. The ANZ bank has variety of goals like, Funding goal to help community by funding in several ways, collaboration goal, finance goal, supporting the voluntary and philanthropic sectors, working with Maori, Pacifica and refugee and migrant communities and organisational support goal.
Communication is the most needed part to achieve the goal of any organisation.
for example, to achieve funding goal organisation must have communication to the group or association which needs funding to create ideal social environment,
for financial goal bank must be in communication with customer to attract them with new ideas and products.
Most importantly to achieve organisational goal communication between individuals or groups associated with organisation is essential.
Per month or per fortnightly every level or department should held one meeting to keep reminding of organisational goal and give employee chance to come up with new ideas to achieve the goal.
Organisational culture and ethics
ANZ is committed to actively managing the environmental impact of our activities.
Organisational ethics and culture are co-related terms. Ethics are the moral values of the organisation and culture is an atmosphere of effort organisation is putting to achieve objectives with ethics. ANZ is committed to actively managing the environmental impact of their activities. They have set clear, measurable targets to reduce their consumption of electricity, paper, air and road travel, their greenhouse gas emissions, and the amount of waste they send to the landfill.
The ANZ Bank not established only to make profit but it has philosophy to make New Zealand as an ideal society of human as its moral values are more socially like fund for reduce poverty and disadvantage, protect the environment, preserve the heritage, support art and culture, encourage sport, boost recreation, and improve learning and health outcomes.
It is important for organisation to create appropriate culture to fulfil the ethics and regular communication is very essential to create such ethical culture in organisation.
The ANZ bank has made code of conduct to motivate its staff to create ethical culture and to follow it but still organisation is looking for more success in that area.
Communication and rewards are very helpful to put that culture in action more appropriately for example reward the employee who is presently working according to ethical culture and communicate with other staffs to do so. This can be improved by motivating employee by expertise lecture or showing the reason behind the ethics.
ANZ Bank closely working with suppliers to identify and manage their impacts, and exploring options to reduce and reuse the available resources.
They know that their actions have the potential to significantly impact the wellbeing of staff, customers, communities and the environment. Being a responsible corporate citizen is one of the best ways to show New Zealand that they are committed to long term success for all.
Management of knowledge resources
Knowledge management is one of the key elements for any organisation to be success. It is the management of the knowledge is to make organisational processes to knowledge processes which give positive and desired outcomes.
Communication is the only way to generate, evaluate, get and implement knowledge in to the action. ANZ bank is highly respecting the knowledge. Bank has started to recruit the smart brain that all have knowledge and ability to improve organisation's performance.
Organisation could get more smart brain by generating national level exam with some criteria to recruit experts.
Group dynamics is interaction and interpersonal relationship between members of organisation and the ways to form group, its function, to create rule, and put all effort in action.
ANZ bank has one board of committee members that create different groups according to need like for new product or service. They give them time to come up with new ideas to achieve desired output of the tasks or improve performance. That group than create rules according to ideas, thoughts and organisational values. At last after making rules they focus on the activity to perform organisational task.
In this process of group dynamic communication plays a major role from forming to performing. For example, group has given one problem regarding service to solve they will first communicate with customers to get feedback for that service, than communicate in between to get solutions, and than to implement those ideas.
In Group dynamics the leader should provide the task to the team members and then the team come up with the different ideas to achieve the goal or a task of the problem.
To achieve a desired result communication is essential from top to bottom and vice a versa to the top level of management. For the management point of view the peer should have effective communication. To pass on the information in all the way, all the group will have updated information and they can stand to for the next level of task as and when they call upon.
Communication and coordination are the keys for getting success of the problem in group dynamics.
Meeting management tends to be a set of skills often overlooked by leaders and managers. Meeting management is the process of management which starts from the organising meeting to effect of outcomes of that meeting.
The process used in a meeting depends on the kinds of meeting, e.g., staff meeting, planning meeting, problem solving meeting, etc. However, there are certain basics that are common to various types of meetings.
For example bank held meeting to launch new product but they cannot give result of success soon after the meeting.
They have to go through the feedback communication of consumers for the new product which they can do by different communication styles like,
verbal communication surveying,
non verbal communication like mobile poll or give feedback online.
By doing this we can figure out whether meeting was effective or not.
Organisation should give all employee to take part in meetings either actively or passively.
Stakeholder is an individual or a group that are actively or passively affected by the business of organisation. They may be suppliers, community receiving funds, depositors, customers, and members of organisations, government and all who are affected by it.
It is necessary for organisation to keep communicating with all this stakeholders to improve business in effective manners.
ANZ's approach to stakeholder engagement assists in minimising risks, identifying ideas for new products and services and understanding and responding to the issues that matter to communities.
They engage continuously, listen to a range of opinions, formulate responses and make specific public and auditable commitments where appropriate.
Bank is communicating with all stakeholders in various styles, with customers they always offers new product by mailing, advertising, by personal contact; with well wishers or citizens by hosting events, community programmes; with suppliers and marketers by organising special programmes and meetings; with employee by rewarding and taking feedbacks, and on.
All these communication processes helps organisation to improve with ethical values and also to get new ideas and to solve the current problems.
Stakeholder engagement is embedded into the business strategy and decision-making processes.
Networks use to communicate with stakeholders of organisation. Basically to run organisation networking is main feed which is the essential term for communication.
It is present every where, in every work, every level, every department and of various type for example, computers, telephone, facsimile, mailing, media and individual.
To make effective communication appropriate networking is necessary. It helps to gain customers by advertising, mailing, telemarketing, event which ANZ bank uses often. It gives evaluation how funding process happens in desired way.
By use of networking organisations can gather all needed information to solve current issues. Thus communication is almost impossible without networking.
For example, if ANZ bank wants to communicate with customers for new product they will use media networking like advertisement on television or radio or they host big event to attract large numbers of customers with free entries.
This assignment shows that communication process is main spine of an organisation.
This analysis shows that how ANZ bank business is totally affected by the communication. It shows that in business demographics one can use communication for product and service from anywhere in world.
Communication is proven very effective to achieve organisational goal. To understand ethics of organisational and to create organisational culture both verbal and non verbal communication are essential.
It is quite impossible to manage knowledge resources without communication process. Group dynamics is one of initiatives in any organisation which can not be complete without communication.
To ensure whether meeting was effectively managed or not the feedback of all stakeholders is necessary. With help of communication process organisation can keep communicating with all stakeholders which leads organisation to success.
Communication process is not possible without effective networking. Networking is main feed to keep organisation active or running. Therefore communication should be well managed and implemented to make organisation successful.
Thus, the Communication is the main bridge between the policy and the product, management and the resources, product and services.
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