Topics: Westpac, Westpac Stadium, Gail Kelly Pages: 5 (1219 words) Published: March 6, 2013
By Anleel Oraha|

Table of Contents:

Westpac Cover Page1
Exective Summary 3
Nature of Management 3
* Vision
* Management’s Interpersonal role with Internal Stakeholders Management Processes4
* Women's Markets
* Westpac axe hundreds of jobs
* Facebook Censorship
Management and Change5
* Environment:
* Water
* Credit Card Initiatives
* E-statements
* Carbon Products and Services

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Westpac Banking Corporation

Executive Summary
The aim of this report is to analyse and discuss the nature and structure of Westpac’s management theories and strategies and how management has responded to Westpac’s contemporary business issues through internal and external changes in the business environment. Westpac is a public company. One of Australia and New Zealand’s top banks. Formed In 1817, it is Australia’s first and oldest bank. Today, it has over 12 million customers and is Australia’s largest branch network with almost 1200 branches and 2800 ATMs. Nature of Management

Westpac is currently run by a Board of Directors with the current CEO and managing director being Gail Kelly. The Board also consists of Lindsay Maxsted, John Curtis, Elizabeth Bryan, Gordon Cairns, Robert Elstone, Peter Hawkins, Carolyn Hewson, Ann Pickard, and Peter Wilson. Vision

Westpac have stated that their main aspiration is to be one of Australia and New Zealand’s leading financial services, albeit not too distinctive when compared to its competitor’s visions. However it is perhaps the closest bank to have come as close to achieving these goals as possible. Management’s Interpersonal role with Internal Stakeholders Westpac have stated that they seek to stay on top of emerging trends and sensitive issues through effective and regular dialogue with stakeholders. They listen and appreciate what the stakeholders have to say about sensitive issues within the company’s internal workings. Below is a list of internal stakeholders:

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The Board Sustainability Committee - The Board Sustainability Committee look at the ethical and social impacts of the company’s policies. The CEO and Executive team - The CEO and Executive team are responsible for the overall sustainability performance of the company. Westpac Group Sustainability Council – The Westpac group sustainability council develop and implement new strategies. Consists of General Managers representing each of the divisions of the group. The employees – Responsible for delivering the commitments of the company.

Management Processes
Westpac has stated that they express a definite concern of the wellbeing of its employees in the business environment. “The health, safety and wellbeing of our people and providing a safe and injury free workplace are a significant priority for our company.” While some of their recent strategies have had positive impacts on their employees and Westpac’s social status, other management decisions have had almost adverse repercussions. Women's Markets

Westpac has taken initiatives to support women in the business world. Ruby Connection, one of these initiatives, is an online network aimed to support the women whom have decided to pursue their career in the business world. Westpac to axe hundreds of jobs

However Westpac’s most recent management decision early this year has been to axe over 560 workers and to offshore their positions. This has left workers jobless and in need of new work. "The news came from nowhere; I'm not sure what I’ll do now," said an anonymous employee. About 150 lending operations jobs would be sent offshore while the remaining 400 jobs were to be chopped from primarily backroom processing and general support roles over the next 2-4 months said FSU national secretary Leon Carter. This was all done to increase profit by finding cheaper alternatives in labour. Australian Jobs in IT are the most to suffer from this ordeal. “"We are committed to...
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