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1. Topic is number 2 Globalisation
1st
Each of your essays should have a front page, and on that front page you should have: your name; your student number; your chosen essay topic; your tutor’s name; and the day, time, and location of your tutorial
2nd
You should have built in footers (or headers) on your pages – these should inlcude the same information as on your front page, except that instead or writing out your essay topic in full just list the topic number eg “topic 9”
3rd
Essay File naming protocols – you need to name your essay file in a consistent manner so that we can easily identify who it belongs to from the file name. So this is how you will construct (and “save as”) that file name:
– your tutor’s first or last name, space, then your name, space, then your student number, space then your essay topic number
eg Henley Jane Bloggs 3999999 two. doc ….. or Shelley Jack Tan 4999999 six.docx etc etc etc …. or even shelley henley esmerelda green 5999999 one.doc etc etc etc
So you need to know your tutor’s first and/or last name just as a starting point .
BUSM4176 – Assessment Tasks
This course has two sets of assessment components/tasks. You are not required to pass every assessment task but you must obtain an aggregate score of 50 marks (%) or more to pass the course.
Assessment task 2: Ideas in management – ANZ Banking Corporation case study – (critical essay). (55%)
This is a substantial piece of writing which :
Initially requires you to collate the presented case material, and then further build the case study material, from the basics provided, using your chosen management topic as the expander of the theory, or practice, or an issue in management, that you wish to explore in relation to this ANZ Banking Corporation case study, and or the banking industry itself.
You must submit your essay topic choice to your tutor for either: guidance, or development and refinement, as well as approval, by the end of week 5. Failure to do this will compromise your ability to get the best from your assignment.
Choose one of the following six topics and write your critical essay using the case study as your background and context against which to critically explore some part (negotiated with your tutor) of that topic question.
1. Diversity
Critically examine the concept of workforce diversity, and the implications for current management and workplace practices in ANZ in Australia, and offshore.
Consider that within many companies there is a difference between the espoused theory and the reality of the practice of workforce diversity.
Alternatively you may consider the concept of diversity in relation to the customer base. Who is traditionally lent to and why? And how the management of ANZ and the banking industry is looking to strategically extend their lending into much more diverse customer sets? What questions and issues does this raise for the managers who implement these strategic diversity decisions.
2. Globalisation
Critically examine the managerial implications for borderless organisations.
Identify and consider some of the key issues and concerns for ANZ internal management policies and practice across multi-national sites, cultures and workforces. Or consider ANZ management’s (or the banking industry’s) oversight of, or local responsibilities for transnational corporate customers.
3. Ethics and Governance
The ANZ Banking Corporation has strongly stated governance, and corporate ethics/code of conduct expectations, and espoused practices to which all managers and staff are required to be signatories.
But in early 2014 there was a great deal of media coverage and criticism about ANZ’s ethical and corporate social responsibilities in relation to controversial Cambodian sugar plantation loans, and the financial support of corporations whose practices dispossess and undermine local and historical tenants in other countries.
What does this sort of example say about the reality of ANZ’s (and the banking industry’s) actual ethical and CSR practices in their judgments about who they lend to? And what ethical and CSR issues their lending oversights should address? What is, or should be, the manager’s role in this?
4. Managing for Sustainability
“Sustainable” business practices are being touted, or even required, more and more by western society. What is ANZ’s sustainability policy and how is this congruent (or not) with cutting edge sustainability thinking and theory.
What are the implications for the management of ANZ of imposing western views of sustainability on developing countries? How does this sustainability thinking and practice change across borders? And if so, how does the ANZ’s Australian head office engage with it? Does what they espouse align with the reality of their practice? What does the theory say about this ? What is, or should be, the manager’s role in this?
5. Internal “Entrepreneurship”
The ANZ apparently fosters the growth of an intrapreneurial spirit within its ranks across all regions, both in Australia and offshore. How does the ANZ address and cultivate intrapreneurial activities and behaviours? What is their intent? And what is their approach?
Consider what is the reality of their practice as seen through the mass media and scholarly investigations, as versus their own statements about their intraprenuerial practices – ie reality vs rhetoric – is there a gap?
6. Individual topic development
OR you will select an aspect/element of one of the weekly lecture topics, and critically explore it in some detail as per the essay instructions below. If you choose to develop this type of essay topic then you MUST submit the topic to your tutor for guidance, refinement and approval, before you commence writing. It MUST be signed off by your tutor. Failure to do this may result in the waste of a lot of, or even all, your time and effort.
The tutor has the right of topic refusal. (Some topics such as “the evolution of management” will be specifically excluded from consideration.)
The essay assessment rubric:
A rubric has been built within the course website on myRMIT and includes the following key elements:
1. Summarise current approach(es) to topic (congruence / discord in theory, practice)
2. Contextualisation of key topic concepts to the Banking sector (not necessarily ANZ Bank specifically)
3. Supported by academic literature (evidenced by the inclusion of at least five contextualised scholarly articles, and the inclusion of other resource material)
4. Logically structured, referenced in compliance with the RMIT Business Referencing style and written in substantially essay format.
The critique must be fully referenced. Correct and thorough referencing will be a key evaluation element in each required segment. You are required to use RMIT Business Referencing Guidelines. The quality and credibility of your sources will also be considered in the evaluation of your assignment. A minimum of five scholarly articles are required; expand this basic reference list with more articles, including those from mass media, film and video sources, and other resource materials. (NB Wikipedia is not considered an appropriate reference. Neither are many other online sources considered credible.) Please ensure that your spelling, grammar, and syntax is correct before you submit your essay. Your tutor, and the course website, will advise on a variety of support services such as SLAMS and the SLC to help you with this.
Further information about essay presentation and referencing style will be provided in your tutorial and on the course website.
Word count: The critique should be within the range 2000 – 2500 words. Your reference list, any cover sheets, any appendices, and the assessment rubric are not to be included in the word count.
Due date: no later than 11.59pm on the Friday of week 12 (Friday 17th October) of Semester 2, 2014. Any additional specific submission instructions for Assessment Task 2 will be posted under the BUSM4176 course information link in MyRMIT.
Submission process: the critical essay in MS Word format must be submitted online through the course Blackboard site. Use the requested file naming protocols to ensure that your essay will be found, retrieved, and marked by your tutor without difficulty. You may be required to (additionally) submit a hard copy of the essay, but only if your tutor requests one. Your class lecturer/tutor will advise on this.
File naming protocols: will be posted on the course Bb website
Turnitin (Anti-plagiarism software) will be an automatic part of your online submission process. Submission instructions will be on the course website under “Assessment tasks”. You will be able to make multiple practise submissions using this process until the due date cut-off. Please use this function to help refine your referencing skills etc.
This assessment task links to the following learning outcomes / capability developments:
• explore and discuss key issues in management practise
• interpret and explain foundational contributions to management theory
• comprehend and critically discuss key management concepts and arguments and place these within their principal cultural, economic, historical, philosophical and social contexts
• demonstrate your ability to construct a well researched, and well referenced, academic paper
Total Marks available for this critical essay assessment task : 55 marks
This material summarised in this document is taken frm the ANZ Bank’s own website hence it is material that is authored by the ANZ Bank for public consumption. You may find it useful as a starting point, or you may find it biased.
BUSM 4176 I2M = Semester 2 2014
Case study – ANZ BANK
1. Organisation overview
ANZ began as the Bank of Australasia, which opened its first office in Sydney in 1835. The bank established a Melbourne office in 1838, where ANZ’s world headquarters is now located. It is now one of Australia’s biggest publicly listed companies.
Organisation statistics
Number of countries in which it operates 32 (Asia, Pacific, America. Europe)
Number of employees globally ~50,000
Assets value ~ S$600 billion
Number of customers ~ 8 million
2. Business strategy
ANZ aims to become a “super-regional” bank by simultaneously maintaining its core Australian and New Zealand business and expanding its services and customer-base in the wider Asia Pacific region.
Its competition strategy has three key elements as described in the following table.
Geographic
• Balanced exposure to Asia’s growth
• Regional connectivity
• Growing financial services market
• Strong domestic markets
Building super regional capabilities
• Bench strength/talent
• Technology operations hubs
• Global core brand
• Governance and risk management
• Building leading product capability
Customer focus
• Deep understanding of customer needs
• Resources, agribusiness, infrastructure
• Trade and investment flows
• Migration/people flows/education
3. Corporate governance
In relation to corporate governance, ANZ’s Board seeks to:
• embrace principles and practices it considers to be best practice internationally
• be an ‘early adopter’, where appropriate, by complying before a published law or recommendation takes effect
• take an active role in discussions of corporate governance best practice and associated regulation in Australia and overseas.
• operate sustainably
4. Leadership
ANZ’s governance structure provides oversight from the Board down of risks and opportunities arising from its activities. Its business is exposed to a range of key interrelated risks including market, credit, operational, compliance and reputation risks.
There are four top-level committees that manage these risks and opportunities. They are detailed in the following table.
Risk Committee oversees the management of new and emerging risks, including environmental and reputational risks. It also approves ‘risk appetite’, and carries out an oversight role with respect to ANZ’s risk management strategies and compliance. The bank’s Risk Appetite Framework underpins fundamental aims in relation to strong capitalisation, a robust balance sheet and sound earnings.
Governance Committee reviews and approves governance policies and principles. It also reviews and approves proposed Corporate Sustainability objectives annually and reviews progress in achieving them twice a year. In addition, it has responsibility for monitoring the effectiveness of the bank’s diversity policy as it relates to the Board and approving objectives for achieving gender diversity on the Board.
Audit Committee reviews financial reporting principles and policies, controls and procedures and the effectiveness of the related internal control and risk management framework.
Human Resources Committee has formal oversight of ANZ’s policies and approaches with respect to diversity and health and safety, and also monitors employee engagement and culture.
Promoting responsible behaviour
The bank has a suite of policies specifying expectations of all employees regarding behaviour, internally and externally. The policies cover bribery and corruption, bullying and harassment, information security, money laundering and whistleblowing.
Responsible behaviour training
All ANZ employees and contractors are required to undertake training to ensure awareness and understanding of obligations in each policy area.
Everyone must periodically refresh their knowledge of specific courses within the suite.
Failure to do this can lead to disciplinary action and/or remuneration consequences. In serious cases it can lead to termination of employment.
All course elements in this training are made available in Bahasa and Traditional Chinese and are available as CDROMs for remote areas or locations with low bandwidth.
5. Human Resource Management (HRM)
The following passage is a quote from Susie Babani, Group Managing Director, Human Resources at ANZ.
“Wherever we operate, we want our customers to experience great service from us, and this means we need to attract and develop the best connected and most respected people as part of the ANZ team.
We believe in the inherent strength of a vibrant, diverse and inclusive workforce where the backgrounds, perspectives and life experiences of our people help us to forge strong connections with all our customers, innovate and make better decisions for our business. Our people have the opportunity to learn and progress with us, regardless of gender, age, ethnicity, cultural background, disability, religion and sexual orientation and professional background.
We expect the highest standards of customer service, ethics and integrity and in return we help our people to develop and progress their careers with us.”
The bank’s HRM framework
Key elements of the framework are described in the following table.
element approach
Attracting and engaging talent
ANZ is attracting, engaging and retaining the best people and recognising and rewarding them for their contribution:
• Performance management
• Remuneration and benefits
• Recruitment and retention
• Employee engagement
Developing our people and progressing careers
Providing opportunities to build careers globally, and enabling our people to progress:
• Leadership and talent
• Learning and development
• Graduates and Generalist Bankers
Valuing diversity and promoting a culture of respect and inclusion
Building a respectful and inclusive workplace where employee differences are valued:
• ANZ’s approach to human rights
• Diversity and Inclusion
• Flexibility
Workplace relations
Fostering a safe work environment where employee wellbeing is promoted and clear mechanisms are in place develops strong relationships with our people:
• Health, safety and wellbeing
• Workplace relations
• Our Hubs Strategy and offshoring
Staff feedback
The bank conducts an employee survey to keep track of how it is performing.
The following quotation and table are taken from the 2013 survey:
“Respecting and ‘valuing every voice’ is one of our core values and essential to the growth and success of our business.
We believe that motivated, engaged and knowledgeable employees will provide the best service for our customers and contribute to the long term success of our company.
We listen and act on employee feedback and constantly find new ways to improve our culture and environment so that ANZ is a truly great place to work.”
Selected results from the 2013 survey (performance area and percentage score achieved)
Performance area
Score
Employee Engagement
Employees are motivated, satisfied, engaged, intend to stay, have pride in the organisation and are willing to act as advocates for the organisation. 72%
Performance Excellence Index
Employees perceive that the organisation is committed to customer service, product quality, employee involvement, training and teamwork.
78%
Behaviour Change Index
Positive perceptions of action taken to address employee feedback and its impact on staff engagement. 72%
Participation
Proportion of employees participating in the survey 77%
6. Codes of conduct
ANZ has two main Codes of Conduct and Ethics which provide employees and Directors with a practical set of guiding principles to help them make decisions in their day to day work. The Codes embody honesty, integrity, quality and trust, and employees and Directors are required to demonstrate these behaviours and comply with the Codes whenever they are identified as representatives of ANZ.
ANZ is committed to actively managing and reducing the environmental impact of its activities. It acknowledges that it has the following impacts on the environment:
• Directly, through the conduct of its business operations, e.g. the energy consumed in its corporate offices, data centres and retail branches;
• Indirectly, through the products and services it provides to its customers, e.g. lending money to finance its customers’ operations and,
• Indirectly, through the products and services it procures, e.g. the technology and equipment it purchases to run its business
7. Corporate Social Responsibility framework
The Bank’s corporate responsibility framework is based on the three priority areas of sustainable development, diversity and financial inclusion as described in the following table.
Sustainable development
• Integrating social and environmental considerations into business decisions, products and services to help customers achieve their sustainability ambitions and deliver long term value for stakeholders.
• Working with business customers in this way supports their efforts to manage their social and environmental impacts, strengthens relationships and reduces ANZ’s reputational and commercial risk.
Diversity and inclusion
• Building the most diverse and inclusive workforce of any major bank in the region to help ANZ innovate, identify new markets, connect with customers and make better, more informed decisions.
• ANZ employees come from more than 200 different cultural backgrounds. In many locations the composition of employees reflects the composition of the local community, enabling a strong connection between the two and the delivery of products and services most relevant to those communities.
Financial inclusion and capability
• Building the financial capability of people across the region to promote financial inclusion and progression of individuals and communities. Delivery of financial education programs to the employees of business customers strengthens relationships and builds our customers’ employees financial capability.
• Delivery to low-income and excluded groups in many of the countries in which ANZ operates.
ANZ’s stated Corporate Social Responsibility opportunities and challenges:
• Building a strong and sustainable pipeline of women leaders in its organisation
• Creating and maintaining gender balance of its staff.
• Understanding, and capitalising on, the strong inter-cultural capability of its workforce for the benefit of its customers.
• Increasing employment opportunities for people with disability.
• Building an inclusive working environment for all employees in order to leverage opportunities for innovation, connect with customers and make better, more informed business decisions.
8. ANZ’s “Six C” Stakeholder engagement principles
Principle
Commitment
Congruence We engage with our stakeholders on matters that align with our agenda, priorities and the issues associated with our business.
Consultative We consult widely to achieve the best outcome through consideration of a diverse range of perspectives and experiences.
Collaborative We aim to establish deep partnerships with organisations with which we can develop a shared vision. We balance the competing needs and interests of all stakeholders in the actions we take and decisions we make every day.
Creative We create innovative programs, initiatives and responses designed to make a significant and lasting difference. We aim to be bold and have the courage to be different.
Communicate We value dialogue and open, honest and ongoing communication with all stakeholders.
We lead action and share our approach and outcomes widely.
Commitment We are committed and persistent in our efforts to achieve a common understanding and real outcomes on challenging issues and opportunities.
9. Transcript of an interview with ANZ Bank Singapore CEO Vishnu Shahaney (published in the industry magazine “eFinancial Career”)
Question: How did you get to the CEO role? Was it a conscious decision to move across different banking sectors?
Answer: As with all things in life it is with a lot of planning, hard work but also luck. In the early days of my career, it was the responsibility of the HR teams to manage your career. It was therefore planned in a way that I was able to rotate between departments and move between various geographies, and I thoroughly enjoyed the experience. What it developed in me was a constant desire to learn new skills, to meet people and interact with customers, to adapt very quickly to new environments, and then to take my own career into my own hands. I knew that to be a true commercial banker I had to have knowledge across the various divisions of the bank, and I was extremely fortunate that I was able to do that.
Question: Many bankers switch employers during their careers, what made you stay on for 30 years?
Answer: I am extremely proud of that. While it is no doubt the same organisation, it has changed substantially over the years in terms of ownership, focus, culture and management. In fact one could argue that it’s harder going through change of this magnitude within the firm than moving to a new organisation. A simple reason for this is that as a long-serving employee, you are well known to your employer for both your strengths and weaknesses and there are perceptions that to create change you need to inject fresh blood. I have always thrived on change.
Question: As a boss, what is your philosophy on staff retention?
Answer: I am a strong believer in people and always treat them with respect. “Treat people the way you expect to be treated”, consistently demonstrate these values and the task gets easier. You must also spend a lot of time in the recruitment phase to ensure you get the right fit – I believe that is as important as retention.
Ensure that you continue to invest in the team, understand what people really want, communicate extensively, listen effectively, coach and mentor talent, influence organisational change in frameworks where appropriate, and importantly, push the teams to deliver their potential.
Question: What’s a typical day like for you as CEO of ANZ Singapore?
Answer: On a typical day I am at my desk at 8am and get home after dinner most days of the week. A lot of time during the day is spent with staff and our valued customers. Being a growing organisation, the bias is more on execution of strategy than strategy formulation itself, so I see my role as leading from the front. While the days seem long on paper, the evenings are generally spent with customers at various events, and being with them is the most exciting part of the day.
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