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Business studies care report about ANZ banking....

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ANZ BANKING GROUP REPORT SONYA GHADIA/ 19386081 TUTOR: KARIM BANAYOTI WORD COUNT: 1,180

CONTENTS Introduction & Overview……………………………………………………….2 Business and Management Structure………………….……………………2 Matrix structure…………………………………………………………….2 Participative management style…………………………………………..3 Human Resources…………………………………...…………………………...3 Marketing……………………………………….…………………………………..4 Social Media…………………………………….………………………………….5 Recommendations and conclusion…………………………………………….5 References…………………………………………………………………………..6

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INTRODUCTION & OVERVIEW The aim of this report is to help readers gain a clear understanding of ANZ as a company. ANZ is included under the banking industry sector and is one of the largest organisations across New Zealand and Australia. They first opened in the 1830s as the world headquarters which is situated in Melbourne, Australia. ANZ is known as the bank of Australiasia where it originally began in London and they have been around for over 150 years (Australia and New Zealand Banking group 2019). The products and services ANZ offer consist of a variety of financing products such as investment products, international services however they mainly specialise in superannuation, credit cards and eftpos machines. Throughout the report, the discussion of ANZ adopting the matrix structure and the participative management style will be focused on, the human resource challenges ANZ face, their marketing strategies and the social media platforms (ANZ 2015). BUSINESS AND MANAGEMENT STRUCTURE Matrix structure ANZ Adapts to the matrix structure which is based on individual employees within the organisation reporting to different executives for different matters. The evidence behind this is that ANZ have a range of executives. The chief executive for technology Is Gerard Florian (2017), he is in charge of outlining ANZ’s technology strategy as well as supervising the technology infrastructure, he assists the bank to achieve their set goals by implementing previous technologies and examining the development of current technologies, so the employees that have enquiries about technology within the business may touch base with him (ANZ Shareholder centre 2019). Mark hand is the chief executive for commercial banking and he is accountable for the commercial customers as well as ANZ’s retail, mobile banking applications and the ATMs (ANZ Shareholder centre 2019).

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Participative management style ANZ follows a consensus style of management under leadership as the team members throughout the company mostly work as a team and develop group solutions. Following the correct procedures of training and presenting a disciplined and understanding environment can allow employees to recognise their roles and obligations. The evidence behind the consensus style of management is based on the team members considering the feedback they receive as well as having an input on what can be improved within the business, employees and managers are more likely to be organised with their work ethics and performance (ANZ Shareholder centre 2018).

HUMAN RESOURCES The Human resource challenges faced by ANZ include a number of factors the stakeholders must take into consideration whilst operating the business. ANZ link with Employment hero which is a platform that assists with payroll, benefits and HR. Australian business owners have the benefit of being able to navigate through the challenges and complications of managing HR all because they have the access to a premium subscription of the HR Software platform ‘employment hero’. Managing the load of paperwork and employing staff via this software is a lot easier for businesses to comply with (Byars et al. 2013). Employment hero offers a wide range of features that leave business’s in ease, some of these features include employee files, contracts, HR documents, policies and guidelines, timesheets and the list goes on (Employment Hero 2019). The staff within the organisation are the most important individuals. Some may not be efficient enough to produce the sales, this is why ANZ hires commission-based sales agents that have experience in selling products and services that are similar to theirs. The staff ANZ choose to recruit must also be great listeners, capable of listening to and assisting the customers enquiries, as well as the need for employees to perform above expectations. Trial periods are a common activity ANZ adopt so they can observe their employees work ethics by setting them KPI’s and determining whether they are the right candidate for the business. Training is a key aspect within any business, however ANZ devotes time into training both new sales representatives and experiences sales representatives so they gain an understanding of the practices, customers and expectations. (ANZ Business Hub 2019) 3

MARKETING ANZ covers the 4 p’s of the marketing mix which includes the place, price, product and their promotion methods. The organisation offer a variety of banking services and products that are focused on personal banking which comprise of credit cards, insurance, personal loans and bank accounts, small to medium enterprise banking for businesses and corporate banking which include risk management, superannuation and transaction services. ANZ have been promoting their mobile application for customers to keep up to date with their balances. Single customers and corporate customers bring a completely different percentage of investment to the company which identifies ANZs pricing strategies. To support their growth and market share they monitor prices of competitors and they also create maximum income from private banking. ANZ mostly have their branches all throughout New Zealand and Australia, however they also spread out to South-East Asia. To promote their product’s, they introduced a few campaigns that reflect on their morals of the brand for e.g. one of the campaigns, “Your game, your way” is linked to the sponsorship of the Australian Open. These strategies have been successful against ANZ’s competitors because of their great strength of increased market share across Australia, New Zealand and Pacific countries due to their investments. However, one of their weaknesses is that the bank isn’t major worldwide in comparison to a wellrecognised bank such as HSBC (Mba skool n.d).

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SOCIAL MEDIA ANZ practice the social media platforms of Facebook, twitter, Instagram and snapchat to build their brand awareness and reputation and to portray to customers what the corporate industry in-tail. Their Facebook page is directed at building customer satisfaction for younger generations whereas twitter is ideally the target market for older generations. ANZ mostly promote their special offers via their Facebook page as their social media team is there to assist customers 24/7 on their number 13 13 14 as well as customers are able to message ANZ via their own personal Facebook account if they have any enquires or questions and they typically respond within the hour. ANZ have a strict recommendation for customers to not post any confidential information on their social media platforms as it can put customers in risk of their bank account details spreading. Feedback and reviews are essential for ANZ social media platforms because existing customers and customers that have in interest in considering this bank would like to have a clear understanding of other people’s opinions about the company, for example, if there are more positive reviews than negative, a customer may consider linking with ANZ bank compared to other banks (Facebook 2018).

CONCLUSION In conclusion, ANZ retain a well-organized matrix structure because they have a wide range of executives and an efficient consensus style of management because the managers maintain a professional leadership style. Their Human Resource department are capable of providing training, feedback, payroll etc. with the involvement of Employment Hero and ultimately, ANZ’s Marketing methods and social media platforms assist the stakeholders to keep up with the latest developments that ANZ has to offer. With ANZ following all these procedures correctly and effectively, they are more likely to meet their business goals and maintain a happy workforce.

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REFERENCES ANZ Annual report, 2018, ANZ Shareholder centre, viewed 11th of April 2019, https://shareholder.anz.com/sites/default/files/anz_2018_annual_report_final.pdf (ANZ Shareholder centre 2018) ANZ Corporate Information, 2019, Australia and New Zealand Banking Group, viewed 11th of May 2019, https://www.anz.com/australia/aboutanz/corporateinformation/historyofanz/default.asp (Australia and New Zealand Banking group 2019) ANZ & Employment Hero, , 2019, Employment Hero, viewed on the 12th of May, https://employmenthero.com/anz/ (Employment Hero 2019) ANZ Marketing Mix, (4 P’s) Strategy, n.d, mba skool.com, viewed on the 14th of May, https://www.mbaskool.com/marketing-mix/services/16804-anz.html (Mba skool.com)

Byars, L, Rue, L, & Ibrahim, N, 2013, Management Skills and Application p 292-303, 14th edn, McGraw Hill Companies Inc. New York. (Byars et al. 2013) Group executive technology, 2019, ANZ Shareholder Centre, viewed on the 11 th of May 2019, https://shareholder.anz.com/personnel/gerald-florian.html (ANZ Shareholder centre 2019) Hiring independent sales reps to help grow your business, n.d., ANZ Business Hub, viewed on the 11th of May 2019, https://thesbhub.com.au/tools-and-templates/grow-your-businesschecklist/hiring-independent-sales-reps-to-help-grow-your-business?adobe_mc=MCMID %3D60825187978924719690001157380943649953%7CMCAID%3D2DAB7442052C7C08400000C1E0007791%7CMCORGID%3D67A216D751E567B20A490D4C%2540AdobeOrg %7CTS%3D1557830845#.XN1qCS1L18f (ANZ Business Hub 2019) Products and services, 2015, Australia and New Zealand Banking Group Limited (ANZ), viewed on the 11th of May, http://www.anz.com/corporate/products-services/ (ANZ 2015) ANZ Australia, 2018, Facebook, viewed on the 15th of May, https://www.facebook.com/ANZAustralia/>. (Facebook 2018)

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