Interpersonal and E-Communication - Australia and New Zealand Banking Group - Case Study Example

Interpersonal and E-Communication: A Case Study of Australia and New Zealand Banking Group by Course: Tutor: University: Department: Date: Executive Summary East and west are far much different from each other. This is particularly the case when assessing cultural difference between Australia and United Arab Emirate. Bearing this in mind, Australia and New Zealand Bank Group has successfully overcome many cultural challenges in running its business in the Emirates. The Emirates is different from Australia in terms of not only religious orientation but also social values, work ethics, and time management. While the west considers time as an important factor of production, Arabs are not very keen with time. Notwithstanding the diversity in culture, Australia and New Zealand Bank has made bold step towards capitalizing on diversity. Policy formulation, employment opportunities, and employee programs are some of the channels that ANZ have exploited to develop a stable international business. Table of Contents Executive Summary 3 Introduction 5 Cultural difference between UAE and Australia 6 Developing cultural diversity in ANZ 8 Recommendations 10 Conclusion 10 Reference List 12 Introduction In order to discuss key cultural and communication differences that exist in an international business, this paper will concentrate on Australia and New Zealand Bank Group Limited, which has operations in Australia and United Arab Emirate. Besides UAE, ANZ also has operations in many other countries including Fiji, Samoa, Indonesia, Korea, Hong Kong, Vietnam, and several other fast growing economies in Asia. While discussing the impact of culture and communication in a business, the paper will highlight cultural differences between Australia and United Arab Emirates. Business communication challenges and opportunities that ANZ faces in its operation in culturally different country of UAE will be discussed. Finally, the essay will outline some of the recommendations on how people and business can use the diversity in cultures to establish successful relationships. Overview of ANZ Headquartered in Melbourne, ANZ came into operation as the Bank of Australasia in 1835 in Sydney. Over the years, ANZ has expanded and currently operates in many diverse markets across the globe. Apart from representation in Australia, ANZ bank has increased its network to New Zealand, Asia, Pacific Europe, America, and the Middle East (Australia and New Zealand Banking Group Limited, 2014). Its main line of business is provision of financial services to over 8 million customers across the globe. In addition to being among the top 4 banks in Australia, ANZ is the largest bank in New Zealand and Pacific and is one of the 50 leading banks in Australia. As a demonstration of achievements gained, ANZ was named 2013 Bank of the year in Asia Pacific, Australia, Laos, and Cambodia. For the fourth consecutive time, the bank won an award as the 2013 CANSTAR Best Value Australia Agribusiness Award. Cultural difference between UAE and Australia According to Australia Bureau of Statistics (2013), Australia has a population of over 21 million, whose culture is rich. A breakdown of the Australian population is tabulated in table 1 below. Table 1: Australia population People Australia Total 21,507,717 Male 10,634,013 Female 10,873,704 Aboriginal and Torres Strait Islander People 548,369 Caucasian and Asia are the major ethnic groups in Australia. In terms of religion, the region houses various religious groupings including Anglican, Buddhism, and Islam. On the other hand, United Arab Emirates is majorly an Islam country, which has been a unifying factor. The culture of UAE is such that honour and equal treatment regardless of rank, wealth, or position is given precedence. There is also a strong sense of independence and any attempt to impose rules or decisions that are not in line with social norms is met with resentment (Findlay, 2002). It is widely known that most Arab nations consider the Western and its allies as enemies because they feel the West is always trying to impose rules on the East. Furthermore, family ties, friends, society, and solidarity are considered critical in Arab world. The people of UAE are also hospitable to guests and visitors. The relationship between men and women is such that public display of intimacy is unpleasant. Family honour is also culturally upheld in the country. In an attempt to sustain family honour, arranged marriages are still emphasised. This is not the case in Australia. Taking account of cultural values, Australia and East differ in many respects. While UAE value collectivism, Australia is more of an individual focused culture. Secondly, Australia pays attention to competence while UAE culture support respect for elders. Thirdly, Arabs consider tradition as critical to the wellbeing of the society (Hassan, 2011). Conversely, Australia is responsive to change and innovation. The aspect of being conscious of time also comes to spotlight when discussing cultural difference between Australia and UAE. According to western culture, time is considered an important resource that should not be wasted but utilized well in executing productive tasks. On the other side, Arabs do not pay little attention to time factor and do not mind spending a lot of time in boardroom meetings. This factor is important when looking at productivity particularly among the managers. Developing cultural diversity in ANZ ANZ believes that cultural diversity is essential for delivering a regional strategy. ANZ identifies itself with over 200 cultures and ethnic groupings. The workforce also speaks over 90 varied languages and has always reported strong engagement with customers as shown in table 2 below. Table 2: My voice employee survey for 2013 Employee Engagement 72% Performance Excellence Index 78% Behavior Change Index 72% Participation 77% In a move to strengthen diversity that exists in ANZ, the company capitalizes on recruitment, talent development, and learning programs. Furthermore, ANZ continues to install progressive cultural diversity programs through policies, practices, processes, and systems of the organization. In line with Asian growth strategy, ANZ has its focus on developing a class of employees who are capable to handle the diversity in Asia. Considering the senior personnel, ANZ has shown motivation for enhancing the capacity of the team by increasing their international experience. This is aimed at ensuring that leaders have a good understanding of international markets as well as needs and expectations of customers in those regions. ANZ has been playing a leading role in improving cultural diversity by being an active player in partnership with businesses, governments, and communities. Within the company, ANZ has confirmed its dedication to diversity by engaging employees in cultural festivals and support programs. One of the examples of such programs is “A Taste of Harmony” where over 14,000 employees across 10 countries come together with a common goal of building harmony. The other program is “Sister Branch”, which connects employees in Australia and New Zealand with colleagues in Asia and Pacific with a purpose of building inter-cultural capability. The program is also oriented towards developing relationships, building customer understanding, and increasing referral across the borders. It is important to recognize the step that ANZ has taken to include people from disadvantaged and diverse backgrounds in employment opportunities. ANZ is convinced that Indigenous Australians and Refugees experience barriers particularly in education and employment. The company has therefore gone ahead to invest in specialist teams, who will support these groups into roles. Cognizant of the fact that employment is a pathway to improving livelihood of Indigenous Australians, ANZ involves the marginalized in traineeships and direct recruitment. A summary table 3 below gives an overview of how ANZ is developing an inclusive workforce. Table 3: Inclusive workforce A vibrant, diverse, and inclusive workforce at ANZ 2013 No. of Indigenous Australians recruited into traineeships 92 No. of Indigenous Australians recruited to roles in ANZ 58 No. of Refugees recruited into traineeships 13 Recommendations It is evident from the discussion above that ANZ has several opportunities that could be exploited for the greater benefit particular in running a business in an international setting. By upholding creativity amongst workforce, employees will be able to handle competently any situation that comes their way when serving in a global environment. Expose workforce to diverse cultures through job rotation. This will allow employees to have a first-hand experience in a different cultural environment. Inculcate the spirit of continuous learning and acceptance of diversity. This will allow employees to appreciate other cultures. Conclusion This paper presented a discussion on cultural diversity in an international organization. In order to have an accurate view of diversity in an international business, the paper highlighted how Australia and New Zealand Bank is running its operations in Australia and United Arab Emirates. Viewed from many perspectives, it was apparent from the writing that Australia is different from UAE in many ways. Notwithstanding the diversity in culture, Australia and New Zealand Bank has made bold step towards capitalizing on diversity. Policy formulation, employment opportunities, and employee programs are some of the channels that ANZ have exploited towards diversity. Reference List Australia and New Zealand Banking Group Limited (ANZ) 2014, Our Company, viewed 25 May 2014, http://www.anz.com/about-us/our-company/profile/facts/history/. ANZ 2014, Cultural background and ethnicity, viewed 25 May 2014, http://www.anz.com/about-us/corporate-responsibility/employees/valuing- diversity-respect/diversity/cultural-ethnicity/. Australian Bureau of Statistics 2013, 2011 Census QuickStats, viewed 25 May 2014, http://www.censusdata.abs.gov.au/census_services/getproduct/census/2011/quic kstat/0. Findlay, AM 2002, The Arab World, Routledge, London. Hassan, WA 2011, Immigrant Narratives: Orientalism and Cultural Translation in Arab American and Arab British Literature, Oxford University Press, Oxford. Read More