Westpac exective summary - Essay Example

Westpac Executive Summary Westpac remains the largest banking corporation in Australia, whichis a position the bank occupies not only as a pioneer in Australia’s banking industry, but also due to its strategies that aim at growing its revenue base. This report analyses the corporation’s strategy at remaining competitive and maintaining sustainability. One such strategy is the ability of the bank to create great services and products along a value chain framework. Nonetheless, Westpac’s ability to upgrade and develop new products, or even improve the current products, before the competitors adopt the current ones determines its competitive edge over its competitors.

Westpac has been able to focus its sustainability strategy on five key areas. Focusing on these areas has enhanced the corporation’s ability to remain amongst the top-rated sustainable organizations in the world. Conversely, the corporation’s strategy in financially positioning itself aims at a long-term strategy that incorporates a measurement criterion based on its capabilities and prospective trends that may influence the wider economy. Using this strategy, Westpac has maintained profitability despite high levels of operating costs.

As a way of recognizing the important role played by internal capabilities, Westpac recognizes the importance of customers and employee satisfaction since these two strengthen an organization’s internal systems. Conversely, the corporation recognizes the role the external environment played on its profitability. Hence, Westpac was able to implement strategies that ensured profitability while minimizing risks during the global financial risks. In effect, Westpac implemented a strategy that led to a merger with St.

George Bank, which increased revenues, profits, and dividends to its shareholders.Overall, Westpac should ensure that it utilized its internal capabilities and resources while understanding the value chain context in order to maintain its position as a leader in the banking industry.