The Westpac is the multinational firm of financial services; it is Australian big four’s banks, and second largest banks within the New Zealand (Bloom 1956). This company is been chosen as it has an approach to everything with its vision and values, along with its approach to the women. Westpac follows refined values they are: Teamwork: where they work together so as to achieve similar goals. Integrities: where bank act in an honest manner- it does whatever it says it would do. Performance: it aims at delivering superior results to its customers (Bloom 1956). Westpac take these values to be a non negotiable aspect; it believes everything company does should be based throughout these values (Bloom 1956). The company believes that it should be mainly vigilant whenever this relates to understanding the values of things, moreover this is quiet vital for bank’s business (Bloom 1956). Westpac believes in valuing its staff, company also understand what its customer’s value as it could deliver this by using best individuals. The keys to it is valuing and understanding bank’s greatest asset its intellectual capital (Bloom 1956).
Leadership theory followed by Westpac:
The bank follows behavioral theory of leadership. The company believes in building up an inclusive environment of workplace where diversity, flexibility, and all values-based behaviors could be rewarded and recognized (Jacqueline 2009). The workplace of Westpac’s is developed by individuals who represent a diverse mix in skills, ages, abilities, and backgrounds. The company adopts a personality where it deals with all kinds of diversities (Jacqueline 2009). This helps company in addressing and recognizing needs of their customers (Jacqueline 2009). The Westpac decided it would shed its traditional culture of banking in 1981s, as it wasn’t good related to ways in which company runs its business, either for its customers or its staff (Bloom 1956).
Ever since the early 1991s, this company had made diversities a central platform within policies of human resources and aligned its diversities goals along with its core goals of business. Westpac’s current MD David Morgan had continued emphasis upon giving diversities a higher priority within its business strategy. Many forces within the company are driving this behavioral approach. The company gets quiet closer to the customers by perusing behavioral approach (Bloom 1956).
Certain qualities required through individuals towards different levels of authorities: Individuals at the top most levels are expected to adopt a positive approach of leadership which could lead entire organization successfully. The MD of the company must adopt an approach in which he should be humble, intelligent, confident, and enthusiastic leader who could lead his team effectively (Bloom 1956). The management at executive level must be well worse with all the qualities to motivate its subordinates to deliver their efficiency to perform better. The manager must also be able to delegate all his authority and responsibilities to deserving employees. The subordinates must be self motivated individuals who should have commitment for the company and their work (Bloom 1956).
Drawback of company’s leadership theory was:
The company adopts behavioral approach to satisfy his customers and employees, but because of this approach it loses its focus upon profit making areas. Niki Kesoglou a diversity manager at Westpac had also identified that appeared numerous complaints regarding specific programs in case of women; who are in regarding Top Steps or Springboards (Gadget 2012). Resentment of Westpac which had built upon within few quarters which were demonstrated through recent experiences those involved company’s staff benefits programs (Hacker 2011). Company concentrated on providing appropriate incentives and other benefits to its employees, at the same time generated cost for Westpac. The...