...forces analytic methods to analyze opportunities and threats of Westpac Bank Group in general and competitive environments. Specifically, in general environment, the key perspectives are political and economic factors. However, faced with strong substitutes and rivalries, Westpac would focus on those great threats. In addition, the report demonstrates the visions and missions of the company, indicating the Westpac’s objectives. Then, SWOT analysis is used in the company’s strategic management, which discovers the strengths including company’s infrastructure, great reputation, staffing level and the weakness covering capital risk and low profitability. Moreover, five categories of resources, namely financial, physical, reputational, technological, human resources are discussed. Furthermore, several specific strategies would be presented to gain company’s further objectives and achieve better development. Finally, some recommendations will be suggested to the company, enhancing Westpac’s business operations and development. 1.General environment As one of the big four banks in Australia, Westpac Bank is unavoidably affected by macro environment, faced with several opportunities and threats. Specifically, in terms of political and legal factors, although lots of financial policies and regulations are made to support better Australian banking industry reforms, excessive regulatory interventions may confine Westpac development and higher financial uncertainties also influence...
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...Strategic Operations Issues Australian Institute of Business Michael C Yule - A001322735 22nd April 2014 Word Count – 2605 Not including Executive Summary and Calculations Executive Summary Westpac Private Bank aims to provide exceptional banking services to a select group of High Net worth clients. Within Westpac Private Bank’s supply chain, a continual balance has to be maintained between easy and quick transactions, while security for both the client and the bank are maintained at the highest possible level. This report will look at the supply chain management of completing service requests for clients, and make several recommendations in which to improve the processes for client services within Westpac Private Bank. Table of Contents * 1.1 Overview of Westpac Private Bank 5 * 1.2 Account Service Process within Private Bank 7 * ...
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...2013 ANNUAL REVIEW AND SUSTAINABILITY REPORT THE STRENGTH WE’VE BUILT TODAY… STRENGTH RETURN GROWTH PRODUCTIVITY HELPING US LEAD TOMORROW. Since our inception in 1817 we’ve built a legacy of leadership. In a young colony, through a great depression, through boom years, through a global financial crisis and in the development of a portfolio of businesses, Westpac has a history of looking ahead with a long-term view. This year we have made significant progress in implementing a strategy that is delivering better returns today, and building a sustainable business for the future. It is the strength we’ve built into our business today, with sector leading capital, a robust funding and liquidity position, and superior asset quality, that is helping us lead tomorrow. As a result we can respond to opportunities as they emerge and invest to transform the organisation. We’ve been proudly supporting Australia, New Zealand and our region for almost two centuries and we’re singularly focused on continuing our support as we approach our third century. We believe in these countries, in their people and in their businesses and their potential to prosper and grow. Our strong position today means we are more capable than ever of helping to realise this potential. And we are more dedicated than ever to play a role in leading tomorrow. …IS Westpac Banking Corporation ABN 33 007 457 141 2013 PERFORMANCE HIGHLIGHTS CASH EARNINGS ($m)1,2 REPORTED RESULTS ($m)3 COMMON EQUITY TIER...
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...contributing factors which influence the contents of a firm‟s sustainability reporting through combined social and environmental accounting and management perspectives. Design/methodology/approach: This paper analyzes the disclosed sustainability indicators of a major Australian financial institution, Westpac, through the application of the research method content analysis. The theoretical framework will be shaped by the consideration of legitimacy theory and the Balanced Scorecard approach. Findings: The results indicate that the four perspectives of a traditional Balanced Scorecard are related to the main sources of influential inputs to Westpac‟s sustainability reporting – existing frameworks, stakeholder engagement mechanism, employee involvement and traditional shareholders‟ financial information needs. It also reinforced the argument that the focus of organisational legitimacy is a key resource of organisation survival. Originality/value: This research contributes to the literature on social and environmental disclosures including the research of Do, Tilt and Tilling (2007) and Baxter, Chua and Strong (2010) which was based on the sustainability management and reporting of Westpac. Keywords Balanced Scorecard, Legitimacy, Sustainability, Page 1 Introduction This paper considers sustainability management and reporting in the Australian private sector context. It aims to evaluate an Australian publicly listed firm‟s continuous voluntary...
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...Executive Summary: The purpose of this report is to provide a good understanding of the external environment factors and how it affects the banking sector of the business. This will provide as a better understanding of the key factors and how this factors can create a competitive advantage with Westpac and Hsbc. Strategic choices were also provided for both banks and on how these choices can be an advantage and disadvantage with Westpac and Hsbc. A conclusion was also provided at the end of this report. Table of Contents Executive Summary: 4 Introduction: 6 Banking History 6 Content: 7 Macro environment Factors: 7 PEST Analysis 7 Political and Legal factors 8 Economic factor 8 Social Factors 9 Technology 9 Firm Level Analysis 10 Porter’s 5 Forces in Bank Industry 10 Firm Level Analysis 11 SWOT Analysis Model 11 Strategic Choice 12 Conclusion: 13 References 13 Introduction: Banking History Australia’s banking history can be described in four eras, the private banks, the commonwealth banks, the reserve bank and deregulation. Australian’s first bank was founded in 1817, the Bank of New of New South Wales. The main purpose of this bank is to take deposits and re-loaned the money by providing discounts of exchanged. Since there is no central bank, each private bank are taking their own risk and a lot of private banks stood and fall from its credit. As long as the bank’s assets were believed to be credible, its notes...
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...introduce in the early 1990s, balanced scorecard has been widely used by many companies, it has provided benefits and convinces to companies. However, not every company can successfully handle it. As a result of this, this report will identify the ways to design and implement balanced scorecard in Westpac banking with an assumption regarding to some influence both positives and negatives may occur with. 2.1 Company Background Westpac is one of the five major Authorised Deposit-taking Institution (ADI) organisations. It provides a broad range of banking and financial services to approximately 7.5 million customers across more than 1.300 service points. It has branches and affiliates throughout Australia, New Zealand and the Pacific region. Westpac’s financial services include retail, commercial and institutional banking and services such as wealth management. (Oracle, 2005) Westpac were founded in 1817 and were the first bank to be established in Australia. Under an Act of the New South Wales Parliament in 1850 it was incorporated as the Bank of New South Wales and renamed to Westpac Banking Corporation in 1982. On 23 August 2002, it was registered as a public company limited by shares under the Australian Corporations Act 2001. (Westpac, 2005) Today Westpac has 26,131 Employees with $7.2 billion net operating income in the past year of 2005, under the leading...
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... 2 2. Motivating factors for companies to publish sustainability reports 2 3. Key features of effective sustainability reports 3 3.1 General standard disclosures 3 3.2 Specific standard disclosures 3 3.3 Sector specific disclosures 4 4. The evaluation of Westpac’s sustainability report 4 4.1 General standard disclosures 4 4.2 Specific standard disclosures 5 4.3 Sector specific disclosures 5 5. Conclusion 5 6. Reference 6 Executive Summary This article is going to explain the reason for companies to present their sustainability behaviors and highlight the key feature of an effective sustainability report. Sustainability reports refer to disclose companies’ social and environmental performance. It is essential for the financial service industry to convey their sustainability profile and integrate this to their financial report. This article also makes an evaluation about Westpac’s sustainability report. Westpac’s sustainable reporting has used the table and bar chart to illustrate their sustainability performance accurate and transparent. Therefore, this report has a good quality. 1. Introduction Since the environmental and social...
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...GROUP MEMBERS DauTran Phi Quang: 24551139 Le ThuongHien: 21530459 AFF5280 - Institutional Asset & Liability Management GROUP ASSIGNMENT Table of Contents EXECUTIVE SUMMARY 3 INTRODUCTION 4 1. COMPANYANALYSIS 5 1.1 Company overview 5 1.2 Product & Services 5 2. INDUSTRY ANALYSIS 8 2.1 Industry overview 8 2.2 Competitors analysis 8 2.3 Current state of the economy 8 2.4 Porter’s five forces 13 2.5 SWOT Analysis 16 3. BUSINESS AND FINANCIAL RISKS ANALYSIS 16 3.1 Liquidity Risk 16 3.2 Capital risk 19 3.3 Strategic risk 22 3.4 Credit risk 23 3.5 Foreign exchange risk 25 3.6 Market risk 27 APPENDICES 29 REFERENCES 36 EXECUTIVE SUMMARY The main purpose of this report is to investigate Bendigo Bank’s business and financial risks for the sake of suggesting the most appropriate financially justified risk management strategy. The main content of the report is divided into four major parts including (1) Company analysis, (2) Industry and peer analysis, (3) Risk management analysis and (4) recommendation. The first section will critically provide a brief overview of the company background and detailed information about its core products and services consisting of personal banking, company banking and wealth management. Following section will discuss through macro-economic factors including the current state of the economy measured by relevant economic indicators. Then, the industry overview and the performance of...
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...A CASE STUDY ON BANKS IN FIJI COMPILED BY: SHINAL PRIYANKA CHAND 1 INTRODUCTION Fiji has a well developed financial system that not only is secure and sound but has remained flexible despite the recent global financial crisis. The strong involvement of the banking industry to the Fiji Financial System has been a major factor in this regard. Over the years the Banks have invested heavily in Fiji and have remained committed to delivering services that have helped shape and develop our country into what it is today. At the end of 2010 the commercial bank’s assets alone was approximately 42% of the entire financial system and this highlights the importance of this industry in the local economy. The value of total assets of the commercial banks at the end of 2010 was $4.5b and equates to around 75% of GDP. Commercial banks are financial institutions that primarily intermediate between the savers and the borrowers in an economy. They also buy and sell foreign currencies and facilitate trade and the transfer of payments both domestically and across international borders. It is these very transactions that help to pay for our salaries, the importation of goods and services that we use almost every day, and provide the much needed capital for investment. At the end of 2010, the total loan book value of all banks stood at $3.1b and this has grown by 159% over the last 10 years. Furthermore, Commercial banks play an important...
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...Explain the linkages between the business case and moral case for diversity in organisations. Support your key arguments by sourcing ‘diversity statements disseminated/ publicised by Australian organisations to justify their claims for managing diversity. Diversity itself remains an unclear concept. It is contextually specific and linked to demographic and socio-political features of the population and the workforce. Diversity is a selective concept in that some, but not all physical characteristics are incorporated into Managing Diversity programs (Moore 1999). Diversity also has invisible and hidden aspects that include culture and attitudes (Moore 1999). Managing Diversity programs in general mimic or reflect legislative programs that prohibit discrimination and encourage Equal Employment Opportunities within the workplace, and hence many Managing Diversity programs support such groups as women, ethnic minorities, older workers and people with a disability. There is a tension between diversity as a factor that generates forms of exclusion and inferior material outcomes in the labour market, and diversity as a factor that can be harnessed towards improving organisational performance. While diversity is embedded in worker difference and notions of equality and justice, the broader equity goals linked to Managing Diversity are not necessarily the terms by which Managing Diversity programs are assessed within the organisation. The Moral case has often been expressed in terms...
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...What is Market structure and its sorts with case in Australia? Business sector is a spot where purchasers and dealers set the expense of administrations and merchandise. The idea of business sector structure is in this manner alludes to the opposition for products and administrations in the business sector furthermore qualities of the business sector that impact the conduct and aftereffects of the organizations working in that business sector (www.businessdictionary.com). The standard angles that center business sector structures are: amount of purchasers and suppliers in the business sectors, their relative course of action quality, with respect to capacity to set costs, the level of detachment and uniqueness of items, the states of entering and leaving the business sector and economies of scale. The connection and contrasts between these perspectives take into account the presence of a few business sector structures one is immaculate rivalry and flawed rivalry. Impeccable rivalry business sector is characterize as a business sector in which number of purchasers and suppliers are little and free and trade indistinguishable items with no sort of boundations. Flawed rivalry: in this all conditions are not quite the same as immaculate rivalry. It incorporates market structures, for example, • Monopoly • Duopoly • Oligopoly • Monopolistic rivalry (www.youarticlelibrary.com) Monopoly It is a business sector structure when there is one and only vender of...
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...Corporate Social Responsibility & the Law Assessment 1: Individual Essay Introduction Corporate Social Responsibility (CSR) is defined by Ferrell et al (2011) as “an organisation’s obligation to maximize its positive impact on stakeholders and minimize its negative impact”. CSR can therefore be viewed as a corporation's agreement with the world. CSR is most commonly used alongside the “ethics” term but they actually differ as ethics are the guidelines to be used for business decision making. Ethics, according to Preston (1996), is concerned with what is right, fair, just or good, about what we ought to do, not just what can be done or what is most acceptable or expedient. Ethics allows for set standards and rules to be used to guide behaviours which form just one level of the considerations of CSR. The International Labour Office (2006) identifies CSR as giving consideration to operational impacts on society and affirming values in their internal methods, processes and external interactions – CSR is voluntary, enterprise-driven and refers to activities considered to exceed legal compliance. With the expectation that business will give as well as take from a society and environment in which it operates, the concept of social obligation proposes that a firm has obligations to area that spread beyond making profit. Additionally, the community expects socially and environmentally responsible behaviour practices; the so-called triple bottom line approach. This anticipation...
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...Positioning 2.0 Strategies 3.0 Marketing Mix 3.1 Product 3.2 Pricing 3.3 Distribution 3.4 Marketing Communications 3.5 Customer Service 4.0 Recommendations 5.0 Plan of Action 6.0 Bibliography 1.0 Marketing Strategy Westpac: THE ASIA PACIFIC INVASION Westpac have been servicing the Pacific Rim since 1901 with rapid support for its growth strategy of servicing Australian and New Zealand customers with links to Asia, and Asian customers with business interests in Australia and New Zealand. With Capital Market Sales and Foreign Exchange capabilities established in Singapore in 2004, Westpac Group Asia was extended to include Corporate and Institutional Banking in 2005, and most recently, Syndicated and Leverage Finance and Asset Finance. Westpac Singapore and Hong Kong offices have a strong focus on private banking for affluent customers with ties to Australia and New Zealand. While most of these Westpac Institutional Bank operations are headquartered in Singapore to cover the continent, the geographic footprint has continued to expand, incorporating Shanghai and Hong Kong Branches in China and Representative Offices in Mumbai, Jakarta and Beijing. (Westpac Group, 2011, Westpac History, 07-06-2011, URL: ) While Westpac began to seriously look at the Asian market by 2005, it was only through the form of corporate banking and as they have positioned themselves as a prestigious leader with good earnings. The challenge is how to maximise the earnings and...
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...than 5.7 million retail customers on a global scale (case). . Offering 817 branches and 2600 automated teller machines (ATMs) all over Australia, ANZ is ranked in the top 4 banks in Australia along with Commonwealth Bank of Australia, National Australia Bank Ltd (NAB) and Westpac Banking Corporation. This report will identify the current position of ANZ, and how they are attempting to reposition themselves in the financial services industry. The case highlights the strengths and weaknesses of ANZ and how effective their current marketing strategy is. The strengths of ANZ which have been identified in the case are their highly customised bankcards, their trustworthy image and reputation, knowledgeable staff and the size of the firm. ANZ’s weaknesses are that their products are quite easy to imitate due to such intangibility, they are at the bottom compared to their competitors, the communication gap occurring through the reposition of their new brand and the inflexibility due to the large structure of the bank. This paper will explore two of ANZ’s main strategic issues which are the communication gap of through the repositioning and rebranding as well as ANZ’s competition in the financial industry. Key Strategic Marketing Issues The banking industry is very well established and has a limited selection of different products. Due to few substitute products, firms in the industry will find it hard to differentiate themselves from their competitors. ANZ is rebranding and repositioning...
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...Proceedings of the 2nd International Conference on Corporate Governance Garrow A New Hypothesis on the Determinants of Acquisitions Nigel Garrow Introduction Merger and acquisition (M&A) activity is a significant factor in business in most advanced economies. According to Thomson Reuters, the value of M&A deals completed globally during the 12 months to November 2009 was US$1.8 trillion. However, the acquirers’ shareholders often lose value. Much of the literature on M&A is centred on the UK and US markets, with only a modest level of research within Australia This paper suggests a new proposition to explain why M&A activity may be value destroying for the acquirers: Success or failure for the acquiring firm’s shareholders in M&A is a function of the combined tenure, personal motivation, and recent performance of the Chairman and Chief Executive Officer (CEO) of the acquiring firm. This examination of the combined effectiveness of the Chairman and CEO is not something that appears to have been undertaken before. The paper will present the constituent hypotheses of the main proposition, followed by a literature review, a presentation of findings from a pilot study, conclusions and next steps. Four constituent hypotheses, each of which refers to the performance of the Chairman and CEO, arise out of the pilot study: Hypothesis 1. The length of time that the Chairman and CEO of the acquiring firm have been together in their respective positions at the time of the acquisition...
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