Do you need this or any other assignment done for you from scratch?
We have qualified writers to help you.
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.
First of all, it is known that firms and corporations build management teams in order to make the structure of a company strong enough. The competence of the company is the result of learning and searching for better solutions in this or that situation either in domestic affairs or in the market. In this case, the only enduring source of competitive advantage is the ability to learn (International Studies of Management & Organization, 1999).
Westpac Bank of Australia is a many faceted banking structure, which provides financial services mainly in Western Pacific region and the Australias largest bank by its presence on market and the capitalization volumes. Along with NAB, ANZ, and the Commonwealth Bank it is included in big four banks of Australia. Ten million customers, 1200 branches, more than 2800 ATMs Westpac Corporation was evaluated as the most stable bank in the world for five years. The importance of building control technology (Commercial Case Study) is implemented in the fact that the company is centrally administered. Westpac Banking Corporation has reached further borders in facilitating the management system of its own.
WESTPAC Bank, Australias fourth largest lender, announced a 16% rise in annual net profit to A$2.54 billion ([pounds sterling]1.05 billion) and said it was confident about the outlook despite tougher competition. Revenue jumped 15% to A$18.1 billion (The Evening Standard, 2004).
The bank tries to deal with many global financial formations to provide the policy of experience exchange and meaning the difficult situation on main market platforms under conditions of crisis. The situation is that the Westpac Corporation strengthens the managerial conditions for the branch managers and ordinary ones within seven Western Pacific countries. Westpac group head of retail and business banking Peter Hanlon said the cost of funding customer deposits as well as the cost of wholesale borrowings has risen substantially over the past 18 months (Trading Markets). So the further development of its impact on the Australian economy and on worlds one on the whole is measurable, for it is the largest loaner on the continent.
The beginning of the year 2009 was characterized as the critical time in financial world causing some changes in the global trade and financial segment. The activity of global economy seemed at that moment to be declined. So the governmental intervention helped funds and banks to support main branches of their influence. The size of recession is a predominant solution for the stabilization of two major countries economies, Australia and New Zealand.
There will be two main impacts. Firstly slower loan growth is expected, in part from lower demand for credit but also because both consumers and businesses are expected to use the opportunity of lower interest rates to de-leverage their balance sheets. Secondly, it is expected that more customers will come under pressure as the effects of the slowing activity become more widespread (Media Release, 2009).
To sum up, it is significant to mention that a well-organized work of the corporation management of Westpac Bank of Australia along is still one of the main goals in achieving high-end position in the market share of Western Pacific region. Along with the support of government the corporation is rather strong to prevent the hazards of present economic situation in the world and Australia as well.
Reference List
Media release, 2009. Web.
Westpac Beats off Rivals to Top [pounds Sterling]1bn Profit Mark; The Evening Standard (London, England), 2004.
Lundvall, BA National Business Systems and National Systems of Innovation; International Studies of Management & Organization, Vol. 29, 1999.
Commercial Case Study, Westpac Bank Australia. Web.
Do you need this or any other assignment done for you from scratch?
We have qualified writers to help you.
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.