Mgmt901 Unit 1 Assignment
MGMT901 Teacher Feedback on essay 2 UoW ID for assignment author......student username................ Company........ANZ............................ Name of marker.......Mary Barrett...........………………… Essay number..............2..............................
CRITERION 1: Evidence you understand the textbook/lecture material as it applies to the article, and can explain the article’s implications for your organisation’s CEO, other staff, competitors, etc Textbook/lecture material has been misunderstood or is irrelevant to the article. Little or no discussion of article’s implications. Basic understanding of textbook/lecture material as it relates to the article. Limited discussion of article’s implications. Textbook/lecture ideas well identified …show more content…
Events such as the Global Financial Crisis (GFC) of 2009 and the more recent failing of European economies have shaken consumer confidence leading to conservative attitudes about money. ANZ identifies in particular factors such as low credit growth, funding challenges and new regulation. However they have indicated that these potential threats to the industry represent an opportunity for them provided that they can make structural changes that allow them to be leaner and more innovative (The Asian Banker, 17 February 2012). The article goes on to describes several changes to senior management, including the creation of a new CEO role to head up the new division of Global Wealth and Private, which are aimed directly at supporting the super regional strategy. Porter’s Five Forces Model Porter’s Five Forces allows managers to analyse the external environment by examining five major factors: the level of rivalry between organisations in an industry, the barriers to entry into an industry, the power of suppliers, the power of buyers, and the threat of substitute products (Waddell et al, 2011). By analysing an industry using this tool, managers can identify both opportunities and threats that exist in that industry. The banking industry in Australia is competitive, dominated by 4 large banks but also with quite a few smaller bank and non-bank organisations. Rivalry between the ‘big four’ is particularly intense. There is little in real terms to separate them in the eyes of the average consumer as any changes made by one in terms of interest rates, product offerings or services areis generally quickly matched by the other three. Each of the big four banks possesses such large resources and market share that this poses significant barriers to entry to the banking industry. Even so, there are many smaller but equally well established bank alternatives, such as
CRITERION 1: Evidence you understand the textbook/lecture material as it applies to the article, and can explain the article’s implications for your organisation’s CEO, other staff, competitors, etc Textbook/lecture material has been misunderstood or is irrelevant to the article. Little or no discussion of article’s implications. Basic understanding of textbook/lecture material as it relates to the article. Limited discussion of article’s implications. Textbook/lecture ideas well identified …show more content…
Events such as the Global Financial Crisis (GFC) of 2009 and the more recent failing of European economies have shaken consumer confidence leading to conservative attitudes about money. ANZ identifies in particular factors such as low credit growth, funding challenges and new regulation. However they have indicated that these potential threats to the industry represent an opportunity for them provided that they can make structural changes that allow them to be leaner and more innovative (The Asian Banker, 17 February 2012). The article goes on to describes several changes to senior management, including the creation of a new CEO role to head up the new division of Global Wealth and Private, which are aimed directly at supporting the super regional strategy. Porter’s Five Forces Model Porter’s Five Forces allows managers to analyse the external environment by examining five major factors: the level of rivalry between organisations in an industry, the barriers to entry into an industry, the power of suppliers, the power of buyers, and the threat of substitute products (Waddell et al, 2011). By analysing an industry using this tool, managers can identify both opportunities and threats that exist in that industry. The banking industry in Australia is competitive, dominated by 4 large banks but also with quite a few smaller bank and non-bank organisations. Rivalry between the ‘big four’ is particularly intense. There is little in real terms to separate them in the eyes of the average consumer as any changes made by one in terms of interest rates, product offerings or services areis generally quickly matched by the other three. Each of the big four banks possesses such large resources and market share that this poses significant barriers to entry to the banking industry. Even so, there are many smaller but equally well established bank alternatives, such as