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Ideas in management - ANZ Banking Corporation case study - Assignment Example

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Australia and New Zealand Banking Group (ANZ) is one of Australia’s largest publicly listed companies that have ventured both into commercial and retail banking. The main business of the bank is based in Australia and New Zealand but expansion activities have been undertaken…
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Ideas in management - ANZ Banking Corporation case study
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Download file to see previous pages The business strategy of ANZ is based on three different pillars namely, balancing the growth in the domestic and international front, building super regional capabilities and focusing on customer to gain competitive advantage. The purpose of this paper is to focus on issues of corporate governance and ethics of ANZ bank. The idea is to explore the sustainable ethical and corporate governance practices of banking industry in general and compare them to the practices that have been adopted by ANZ.
The issue of corporate governance has become an integral part of governing the success of banks. The importance of banks in the economy is fundamental as banks play the role of allocating resources effectively and propels expansion of almost every sector of the economy. Following healthy corporate governance practices, is important for retaining the trust of the investors and conducting business for banks. The paper first provides a picture of the current corporate governance practices adopted by ANZ and then critically evaluates the same in the light of abuse of ethical issues by the banking sector.
ANZ have committed itself to the continuous development of corporate governance practices by embracing a system of continuous disclosure to its key stakeholders. The corporate governance of ANZ is based on adopting the best practices in the banking industry that has been accepted internationally, to be the first mover in case of adopting ethical practices and take a proactive role in formulating best practices of corporate governance. The wide scale of geographic operations of ANZ makes it necessary for it to follow corporate governance standards of multiple nations like Australia, New Zealand and Asian countries (ANZ Bank, 2013). In order to ensure that the business follows ethical business practices, the ANZ board of directors follows a detailed ethics policy framework that covers fraud policy, anti-bribery and anti-corruption policy, policies against employee harassment, ...Download file to see next pagesRead More
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