We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Casestudy of westpac - Case Study Example

Comments (0) Cite this document
CASE STUDY OF WESTPAC By (Your Name) Presented to (Instructor/Tutor) (Course/Subject) (Institution/University) (City, State) (Date) Background The creation of shared values is the new approach in the market that is useful in defining the support for social responsibilities…
Download full paperFile format: .doc, available for editing
Polish This Essay92.2% of users find it useful
Casestudy of westpac
Read TextPreview

Extract of sample
"Casestudy of westpac"

Download file to see previous pages The approach is vital in the new age development of business. Shared values are different from the corporate social responsibility (CSR) because it focuses on innovation and support and not on financial support (Drucker, 2002, p. 78). Over the years, corporate social responsibility has been viewed as a financial burden for the company because it involves the use of money in the process. However, the current development of the shared value approach will not only solve the social problem but also help the companies overcome the various challenges existing in corporate responsibilities. Westpac bank is a powerful bank in Australia with the perfect approach in both the dealing with the social issue and also handling the problem of cost. Westpac has developed several approaches in the creation of shared values that have facilitated the success of the bank. The bank engages in other sectors that were initially viewed as not related to the banking industries. The bank has been involved on several fronts including carbon trading with the main goal of the approach to create a shared value with the society. The bank has managed to create an impact in the society using the new model of handling social issue. Issues addressed by Westpac In developing shared values by Westpac, three areas are identified by the bank to be the focus areas. The Bank’s approach depends on the ability, to handle the issues as well as develop partnerships that facilitate the development of the community, thereby reducing the cost of the corporate action, while encouraging participation. The three main areas of focus are community partnerships, employee involvement and capacity building (Crane and Matten, 2007, p. 98). The approaches involve the creation of strategies that ensure sustainability and society improvement. One sustainable product developed by the Bank is the creation of innovative products such as everyday banking through the creation of new Accounts focusing on several issues. The development of Sense Account, which received the 2010 Australian Banking and Finance Award for innovative Banking product of the year. The product targets helping the customer to budget and save. The development of the budget process is facilitated by the use of charts for expenditure and savings. The account offers assistance during financial difficulty such assistance when unemployed to customers who are financially committed. Additionally the products cover other banks such as the St George, BankSA and the Bank of Melbourne. The focus of the products is to deliver improvement on customer experience. The argument of Porter is true because the approach used in delivery of the Sense account has led to success for both the product as both a social product and companies focus product. The success of the Sense account is based on the ability to handle the problems of the society especially planning, budgeting, and financial assistance thus facilitates the development of the society (Noe, Hollenbeck, Gerhart, and Wright, 2012, p. 104). The society requires support and, if a company can borrow forms the nonprofit approach to develop success the better. Apart from the sense account, the bank is engaging in other sectors of the society such carbon trading. The engagement in carbon trading does not only help in conservation of the environment but provides an opportunity to support the community. The involvement in socially responsible investment strategies has helped in the creation of shared values in the ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Casestudy of westpac Case Study Example | Topics and Well Written Essays - 1250 words”, n.d.)
Casestudy of westpac Case Study Example | Topics and Well Written Essays - 1250 words. Retrieved from https://studentshare.org/management/1459117-casestudy-of-westpac
(Casestudy of Westpac Case Study Example | Topics and Well Written Essays - 1250 Words)
Casestudy of Westpac Case Study Example | Topics and Well Written Essays - 1250 Words. https://studentshare.org/management/1459117-casestudy-of-westpac.
“Casestudy of Westpac Case Study Example | Topics and Well Written Essays - 1250 Words”, n.d. https://studentshare.org/management/1459117-casestudy-of-westpac.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
Casestudy of banks R us
These performance measures also help in identifying corrective actions. Besides setting the near-term direction for an organization within budget constraints, the management is also responsible for setting the long-term strategic goals of an organization.
4 Pages(1000 words)Case Study
The recent past has seen a period faced with identity crisis regarding whether practitioners need to follow the Generally Accepted Accounting Principles, popularly abbreviated as GAAP or the International Financial Reporting Standards popularly abbreviated as IASB (International Accounting Standards Board, 2006).
6 Pages(1500 words)Case Study
IBM casestudy
The change that took place within the personal computer industry especially during 1990s clearly indicated a marked shift towards more open business models where small and more agile competitors were more successfully than the larger and more dominant
7 Pages(1750 words)Case Study
Though seemingly late, all staff ought to know that the following factors are used to construct a linear regression model that has been used to predict the pay-off for laid off workers. Using
2 Pages(500 words)Case Study
IT and management are not working together which is impeding innovation because both departments are not aligned. Goals and objectives of both departments seem to be different
2 Pages(500 words)Case Study
Casestudy on Nike's Social Media Strategy
, there are 45 different countries are engaged in Nike business which has given it an edge for quality production and greater coverage across the world (Schwartz 2010). Present age has rightly been named as age of communication. Telecommunication and electronic devices have
16 Pages(4000 words)Case Study
CaseStudy Paper
With time there has been an expansion of more comprehensive designs which have enabled firms to improve supply chain management practices, as a result supply chain management techniques have become more complicated and smart. However even in light of this knowledge, they
7 Pages(1750 words)Case Study
CaseStudy Paper
The center was illustrated as an example of business excellence, in the 1983 case study developed by Professor James Heskett, of the Harvard Business School (Bendavid, 2005). In the case study, the management of Shouldice Hospital is faced by two major capacity
2 Pages(500 words)Case Study
CaseStudy Paper
Despite, the filling equipment presenting a visible factor to blame for the sudden turn of events, several factors contribute to greasline problems. For example, a newly assigned operator with no or limited skills as well as knowledge to operate the machine involves in
2 Pages(500 words)Case Study
CaseStudy: Sperry Van Ness
They had to meet with the company’s owners in person in order to have meetings, hence increasing the firm’s expenses making it difficult for its success. In order to conduct the company’s activities they used the
2 Pages(500 words)Case Study
Let us find you another Case Study on topic Casestudy of westpac for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us