The Risk Management Process Within An Enterprise - 2169 Words

Examine and discuss each step below which forms part of the risk management process followed within an enterprise. Explain the reasons behind each step, what each step achieves for the enterprise and give examples. 1. Objectives of the organization Organizational objectives are the overall goals, mission and purpose that an organization seeks to accomplish. An organization s objectives plays a large part in the development of organizational polices and will determine the distribution and utilization of resources within organization. When a certain company was able to achieve objectives, this would lead to realization of goals. Making objectives may involve a lot of factors. You can set a single objective within organization or multiple objectives and also you can set targeted deadlines for the accomplishment of objectives. There are other important factors such as who make the decisions that could affect the achievement of objectives. Politics in organization is expected, with different kind interests supporting the advance of objectives that are best for them, and this could result in bargaining between groups in the organization, which will lead into objectives that are favorable to the key organizational groups such as soari ng of sales, research and development, marketing and production. To give an example in healthcare facilities, the hospital provides quality services for their patients like having good facilities, competent doctors and nurses, high end equipments andShow MoreRelatedEnterprise Risk Management ( Erm )1531 Words   |  7 Pagesabout the Enterprise Risk Management (ERM). How much risk can be taken so that gain can be increase as risk is directly associated with gain Answer 1: Enterprise Risk Management (ERM) has great potential to provide organizations with new competitive advantages. Enterprise Risk Management (ERM) is designed and disciplined approach to deal with strategy, processes, people, technology and knowledge by the motive of evaluation of management of uncertainties which are faced by the enterprises and generatesRead MoreQuestions On Implementing An Effective Erm Program1492 Words   |  6 PagesControl course and will address the following four issues. ïÆ'Ëœ We will elaborate the COSO Risk Management Framework and COSO’s ERM process. ïÆ'Ëœ We will propose to management the method that they need to take to implement an effective ERM program. This will comprise the concerns and the organizational impact they might meet if they do not implement an effective ERM program. ïÆ'Ëœ We will examine the means for ascertaining key risk indicators (KRIs). ïÆ'Ëœ We will recommend the approach that the organization needs toRead MoreEffectiveness Of Risk Management And Business Development Within Organizations1222 Words   |  5 Pagesuncertainties and risks that any organization should pay more attention to risk management. According to an effective governance, organizations can take opportunities successfully, and a good risk management can be the fundamental security for effective governance. (reference1) This essay answers the question â€Å"how can risk management contribute to effective governance within organizations† and classifies the explains in three parts. Firstly, the system construction of risk management is the benefitRead MoreEvaluation Of Internal And External Factors On Project Management Process1728 Words   |  7 PagesTITLE: PROJ6001 Integrated Project Management Assignment 2B: Impact Analysis Report. Nathalia Vasques Mari – Student ID: 00159199T Contents Evaluation of Internal and External Factors and their impact on Project Management Process 3 Internal Risks 3 External Risks 3 Enterprise Environmental Factors 3 Organizational Process Assets 4 The Difference between Organizational Process Assets and Enterprise Environmental Factors 5 Communication on project management process and outcomes to diverse stakeholdersRead MoreBusiness Analysis : Coso Enterprise Risk Management Framework1279 Words   |  6 Pages Conrad January 23, 2016 COSO Enterprise Risk Management Framework Introduction Enterprises are exposed to various risks that decrease the chances of achieving their business goals both internally and externally. Internally, there are company politics and mismanagement. Externally, factors such as economic environment, regulations and technology influence risks. It is important for an enterprise to build framework for good risk management, which is â€Å"the process of identification, analysis andRead MoreRisk Management And Homeland Security1309 Words   |  6 PagesRisk Management and Homeland Security The nation’s homeland security is a very multifaceted environment which must be controlled to effective function at its highest potential. â€Å"The safety, security, and resilience of the Nation are threatened by an array of hazards, including acts of terrorism, manmade accidents, and natural disasters† (DHS., 2011). All together, homeland security agencies must manage risks at all levels connected with an array of components. Collectively, these external andRead MoreEnterprise Architecture : Benefits And Risks Essay1378 Words   |  6 Pages Defense Enterprise Architecture: Benefits and Risks Hichem Ben Abdallah Naval Postgraduate School Glenn Cook September, 16 2016 Enterprise Architecture: Benefits and Risks According to Bologa, Faur, and Ghisoiu (2010), Enterprise Architecture (EA) is a methodology that incorporate the processes of the domain to be automated; the software applications to be designed; the data and information to be gathered; and the technologic models to be conceived. In addition, Giachetti, R.E. (2010) suggestedRead MoreThe Role Of Risk Management On The Homeland Security Enterprise1361 Words   |  6 Pagesattacks against the United States, a series of risk management evaluations were created by the US Federal Government to assess the future risks the homeland was going to face. When the Department of Homeland Security (DHS) was officially created in 2002, more effective risk management assessments were re-designed to evaluate the past and present dangers, prevent them and respond successfully to more terrorist attacks. Since 2001 until 2007, a development of risk assessment has been divided in phases toRead MoreThe Objectives Of The Zimbabwe Agenda For Sustainable So cio Economic Transformation Essay1505 Words   |  7 Pagesthe importance or role played by Enterprise Risk Management in achieving the current goals or objectives of ZimAsset [30] Enterprise risk management (ERM) has been defined by the COSO (2004) as a process, effected by an entity’s board of directors, management and other personnel, applied in strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reasonableRead MoreBusiness Risk vs Audit Risk1109 Words   |  5 PagesBusiness Risk vs. Audit Risk By Gabriel Agboola The following article first appeared online in the IT Compliance Institute Ask The Auditor column. Used with Permission. What’s the difference between business risk and audit risk? Business risk relates mainly to an organization’s goals and objectives. It is essentially the potential cost incurred if the business does not achieve its strategic plans. The assessment and management of business risk has evolved into formalized enterprise risk management

Week 2 - 1062 Words

Police Functions Kyra Kirkland CJA/394 March 19, 2012 Dr. Hector Garcia Police Functions Over the years, police have been portrayed in the media, television shows, and the local newspaper as crime fighting heroes. This portrayal would make one think a police officer is always out doing a dangerous job, which may require shooting, beating up, or arrested the bad guy. The truth is, most officers will not make a felony arrest in a given year, and there are also many officers who have never fired their weapon. There are various perspectives of the policing functions. I will examine these perspectives from the local, state, and federal organizational levels. I will identify and address possible future changes in laws and the overall†¦show more content†¦The Department of Homeland Security is another branch containing federal law enforcement agencies. Some of DHS agencies are: United States Secret Service- which is responsible for apprehending anyone caught counterfeiting U.S. money. They are also responsible for the protection of other officials of the federal government and for protecting the president. Immigration and Customs Enforcement- enforces the flow of immigrants into the United States. INS agents deport aliens who break the United States naturalization laws. They are also responsible for the patrol of the United States border to stop illegal immigrants from entering the country. â€Å"In the 1990s, INS agents focused on the Mexican-U.S. border, where large numbers of illegal immigrants and huge amounts of illicit drugs entered the United States. INS agents arrest hundreds of thousands of illegal immigrants each year, but the number making it safely into the United States still exceeded the number arrested.† (The Nature of Police Work) Customs and Border Protection and Transportation Security Administration also fall under this agency. Conclusion Patrol and criminal investigation used to dominate policing. Uniformed officers would roam the streets interrupting crime and trying to prevent them from happening. There are different strategies to policing. These strategies include patrol, special operations, and investigations. There are changes that can be made in laws to impact theShow MoreRelatedWeek 2967 Words   |  4 Pageseffectively being used to make adjustments as necessary. Project tend to go through changes as the project goes, and another feature is the project tracing, which allows the PM to revise the plan and see impact of changes, to make better decisions. 2. Imagine that you are interviewing for a job when the interviewer asks you which cost-benefit analysis technique is best for assessing a project’s economic feasibility. What would your response be? Respond to at least two of your classmates’ postingsRead MoreWeek 21061 Words   |  5 PagesAssignment  2:  Marketing  Plan Name Institutional affiliation Date Target Market The Affordable Blended Smoothie, Inc. will be producing a healthy non-alcoholic product. As more families and the society continue struggle to maintain healthy lifestyles, the new beverage comes at the right time in remedying the situation. The new energy drink will be suitable to all classes of people regardless of their age, educational level, income, gender, or ethnic affiliationRead MorePhi 210 Week 2 Phi210 Week 23502 Words   |  15 Pageshttp://workbank247.com/q/phi210-phi-210-complete-course-phi210-complete-cou/11059 http://workbank247.com/q/phi210-phi-210-complete-course-phi210-complete-cou/11059 PHI 210 Week 1 Discussion Critical Thinking in the Workplace  Ã‚  Please respond to the following: * The video clip â€Å"Thinking on the Job† in the Webtext this week illustrates the importance of critical thinking, especially in work contexts. Define the concept of critical thinking in your own words. Discuss a time in either your work orRead MoreWeek 2 Quiz1376 Words   |  6 Pagesquestions are worth the same point value (3 points each). Email me your completed quiz no later than Sunday, Nov 2nd. Chapter 1: TRUE/FALSE (1-9) 1) Management science involves the philosophy of approaching a problem in a subjective manner. FALSE 2) Management scientists use the terms data and information interchangeably--that is, the two terms mean the same thing. TRUE 3) A variable is a value that is usually a coefficient of a parameter in an equation. TRUE 4) Parameters are known, constantRead MoreSpe 513 Week 2 Spe513 Week 2 Essay1027 Words   |  5 PagesSPE 513 Complete Course SPE513 Complete Course Click Link for the Answer: http://workbank247.com/q/spe-513-complete-course-spe513-complete-course/13555 http://workbank247.com/q/spe-513-complete-course-spe513-complete-course/13555 SPE 513 WEEK 1 INDIVIDUAL ASSIGNMENT REFLECTION PAPER Write  a 500- to 750-word reflection paper. Include  your experiences and beliefs as a student in a classroom with exceptional students. Address  the following questions: * How was diversity addressed when you wereRead MoreWeek 2 Assignment1945 Words   |  8 PagesWeek 2 (7) Trade and Comparative Advantage Chapter 3 Problem set Exercise 2.1 Assume there are just two countries in the world, i.e. the European Union (EU) and the Rest of the World (RW). Both countries produce and consume 2 products: bicycles (b) and apples (a). Per bike, the EU puts in 3 hours of labour while the RW puts in 5. Per ton of apples, the EU needs 2 hours v. the RW 1 hour of labour. A further given is that the EU has 2400 hours of labour available v. RW 1600. The worldRead MoreWEEK 2 QUIZ805 Words   |  4 Pagesï » ¿Question 1 2 out of 2 points If a response is followed by a pleasurable consequence, it will tend to be repeated. If a response is followed by an unpleasant consequence, it will tend not to be repeated. This is a statement of ________________. Answer Selected Answer: Thorndike s Law of Effect Question 2 2 out of 2 points A Skinner box is most likely to be used in research on ______. Answer Selected Answer: operant conditioning Question 3 2 out of 2 points A childRead MoreWeek 2 Project Charter 2941 Words   |  4 PagesPB, or PBD used to advance the project. Project Manager and Stakeholders Who will lead this project? Who are the major stakeholders? Milestones What are the key milestone dates associated with the project? Implementation Vote 2 Months Project Timeline   Key milestones Planning: Apr 2013 - Dec 2013 Design: Jan 2014 - Dec 2014 Bid / Award: Jan 2015 - Apr 2015 Construction: May 2015 - Mar 2016 Closeout: Apr 2016 - Jul 2016 Project Timeline (Subcatogories) Demolition of old playgroundRead MoreEssay on Week 2809 Words   |  4 PagesLabor relations chapter 1 – 2 notes 1. Experts believe that the widening gap between the richest and poorest individuals in the U.S. is in part due to the weakened position of labor unions. (Points : 1) |   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   True   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   False | 2. In the U.S., most workers can be discharged for good cause, no cause, and even a morally wrong cause, as long as the discharge is not on the basis of race, gender, religion or another classification protected by law. (Points : 1) |   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   TrueRead MoreWeek 2 Quiz1279 Words   |  6 Pages. (TCO 2) Bubba’s Crawfish Processing Company uses a traditional overhead allocation based on direct labor hours. For the current year overhead is estimated at $2,250,000 and direct labor hours are budgeted at 415,000 hours. Actual overhead was $2,200,000 and actual direct labor hours worked were 422,000. (a) Calculate the predetermined overhead rate. Rate, based on budgeted factory overhead cost and budgeted activity, that is established before a period begins. 2,250,000/415,000 Budgeted

British Imperialism Essay Free Essays

Jordan Shiber Pd. 5 European Imperialism in parts of the Middle East, Africa, and Asia had a more positive impact on the world. The three main reasons I say this is one, Europeans truly thought they were doing good by imposing on other countries. We will write a custom essay sample on British Imperialism Essay or any similar topic only for you Order Now They thought buy bringing in new cultures and traditions the country would be better off and it would benefit them and the country there are imposing on because both countries would be together and the country taking them over would have new and useful resources and the country being taken over would be a part of the European success and gain new ideas and a way of life. Jules Ferry said, â€Å"something else is needed for France:†¦that she must also be a great country exercising all of her rightful influence over the destiny of Europe, that she ought to propagate this influence throughout the world and carry everywhere that she can her language, her customs, her flag, her arms, and her genius†. (Beck 351) This translates to basically the definition of assimilation, or influencing a country using your customs, traditions, and way of life. Second, European countries were more modernized than African countries so by invading they are helping to modernize Africa. Just look at Africa today compared to back then especially South Africa, they are extremely modernized other than the desert parts. Lastly, the invasion of European countries gave the Africans more job opportunities which helped their economy. Before I get into the individual countries positive affects, think about Social Darwinism or basically survival of the fittest. If a country is too weak to defend itself and another country can take it over and successfully run the country, they should be able to without any complaints. To start off, the Europeans thought that they were actually good by invading Africa and imposing their ideas on them. They thought by bringing in new ideas and traditions it would actually benefit the Africans. Also, really good infrastructure was built throughout Africa. Next, Africa and other places werent as modernized as Europe. Africans decided they had to adjust to the modern world or be consumed by it. The invasion of Europeans basically influenced them to change and become more like the rest of the world. In 1831, Muhammad Ali gained control of Syria and Arabia. He began a series of reforms in the military and in the economy. The Suez Canal’s construction was supported by his grandson, Ismail. The European influenced is what caused this canal to be built along with any other reform in Egypt. Egypt wanted to basically show their dominance by gaining power. This is a positive effect because other countries are starting to make themselves stronger. The final reason that European imperialism had a more positive impact on the world was that it gave out more job opportunities to those being invaded and helped the countries econmy and its way of life. Some examples of job created due to the invasion are servants,labourers on infrastructure projects, and soldiers in colonial armies. Also, local warfare was reduced and new hospitals and schools were provided. Another thing is richer families could send their children or even themselves to Europe so they could get a way better education. To conclude European Imperialism in parts of the Middle East, Africa, and Asia, I would say it had a more positive effect. Europeans thought they were doing something good by imposing on other countries. They thought it was a good idea to bring in their way of life and influence the other people. Second, imperialism in Africa influenced some countries so not just sit back and let it be but to show their power and dominance. Lastly, imperialism created more job opportunities and helped out the country itself. Dadabhi Naoroji said â€Å"The genius and spirit of the British people is fair play and justice†. (Beck 351) This means is was okay for the British to do what they are doing. This is how European Imperialism in parts of the Middle East, Africa, and Asia had a more positive impact on the world. MLA Citations: Beck, Roger B. Modern World History: Patterns of Interaction. Evanston, IL: McDougal Littell, 2005. Print. Fieldhouse, David K. â€Å"Western Imperialism in the Middle East, 1914A? A? A? 1958. † Western Imperialism in the Middle East, 1914A? A? A? 1958. N. p. , n. d. Web. 14 Feb. 2013. How to cite British Imperialism Essay, Essay examples

Impact of transformational and leadership - MyAssignmenthelp.com

Question: Discuss about the Impact of transformational and leadership. Answer: Introduction The financial market in Australia is hugely competitive in nature. This is due to the reason that, Australia is having good number of established players in the market including the top 4 banks of Australia (Our history | Westpac, 2018). Thus, in order to cope up with the competition in this market, financial institutions should involve extensive marketing and business policies. Westpac is one of the top four banks of Australia having their market presence in New Zealand also. This is due to the reason that, Westpac is the largest bank in the Australia in terms of the banking network with having more than 1400 branches around Australia. In addition, Westpac is the second largest bank in Australia in terms of the assets. They are also having their market presence in New Zealand also, along with having the status of second largest bank in New Zealand. This report will discuss about the mission and vision statement of the Westpac bank of Australia in order to determine their competitive approach to the business and their stakeholders. In addition, the implementation of the corporate level strategies will also be discussed in this report to identify the types of strategies being implemented by them in their course of operation. The differences in the approaches will also be discussed in this report. Westpac bank has indulged in different criticisms in past due to their unethical business practices. Two of their most important criticisms will be discussed and analyzed in this report. The business environment of Westpac will also be discussed along with determining their key threats and opportunities. The internal management of them including the organizational culture and the style of leadership being practices in Westpac will be discussed. Organizational vision and mission Vision statement The vision statement of Westpac states that, they will strive to maintain their market leadership status in their existing market of Australia and New Zealand along with entering in new markets in the foreign countries in order to enhance their market presence and market share. Moreover, their vision statement also covers the sustainability and stakeholders also (Our history | Westpac, 2018). According to their vision statement, they are willing to be the best employer in terms of the management of the human resources and enabling the customers to gain the sustainable future. Dealing with the environmental challenges is also one of the key aspects being mentioned in their vision statement. Thus, it can be concluded that, the vision statement of Westpac is covering all the viable aspects of their business operation along with considering all the requirements of their stakeholders. Mission statement Mission statement of Westpac bank states that they are offering diverse financial services to their millions of customers in Australia and New Zealand. Moreover, the mission statement of them also concentrates on building effective relationship with their customers. In accordance to that, they are having various customer related approach to enhance the value for their customers (Our history | Westpac, 2018). Corporate strategies initiated by Westpac The 1800s In the initial stage of their business operation, network level strategies are being initiated by them. This is due to the reason that, according to the data available in their official website, the major expansion for the company was being initiated in 1851, when they started the operations of buying gold for the miners and traders (Our history | Westpac, 2018). Thus, with the help of the network level strategies, they had been able to increase their business boundaries along with enhancing the operational areas. This was needed at their initial stage due to the reason that, at that there aware various challenges being faced by them and they do not had brand value to push their services in the market (Drnevich and Croson, 2013). The 1900s This century came with economic slowdown and challenges for Westpac. However, in this case, they also initiated certain corporate strategies to overcome the challenges. One of the key strategies being initiated by them is the corporate level strategies. With the help of the corporate level strategy, they had acquired the commercial bank of Australia in 1982. Following which, they went on to initiate the process of strategic partnership and acquisitions of different financial institutions including the Challenge bank limited in 1995, acquiring the trust bank New Zealand in 19996 and bank of Melbourne in 1997 (Our history | Westpac, 2018). This helped them to gain the position of the market leader with having acquired majority of their competitors. However, with the rapid acquisitions, there are various challenges being faced by them including covering the added responsibilities and dealing with the different organizational structures in these firms. The 2000s This century proves one of the most diverse for the Westpac due to the fact that, they have involved various strategies in their business operation along with dealing with some of the major criticisms that they have faced. In accordance to the diverse environments being faced by them, various strategies including the corporate and business level strategies are being involved by them. One of the key business level strategies being initiated by them is to diversify their service offerings to cover more number of customers along with identifying the potential target markets in the foreign countries. Moreover, differentiation strategy is also being initiated by them in order to create distinctive image in the market. The service offerings of them are being made more customized to suit their target customers along with providing personalized financial services. This helps them to gain competitive advantages in the market and to provide unique experiences to their customers despite of having huge competition (Liu, 2013). On the other hand, Westpac also initiated the corporate level strategies in order to further expand their business. One of the prime examples of their initiation of corporate level strategies is the acquisition of Rothschild Australia Asset management, BT financial group and Hastings funds management limited. Moreover, in 2008, Westpac merged with St. George Bank Limited. Thus, with the initiation of both the business level and corporate level strategies, Westpac is being able to solidify their position in their existing markets along with marinating the market leadership position. All these mergers and acquisitions helped them to be the largest bank in Australia in terms of branch network. Criticisms of business practices of Westpac Lending to Unethical organizations Along with other leading banks of Australia, Westpac is also being accused in funding the firms around the world who are being indulged in unethical business practices. It is being accused that, by funding the unethical business practices of other business organizations, Westpac is also involving in having unethical business practices. One of the key accusations being faced by them is the lending of money to the palm oil giant Wilmar (Schwarten, 2018). This is due to the reason that, according to the reports, Wilmar is infamous for their land grabbing incidents. They are also been named as the least environment friendly companies in the world. Thus, by funding their projects, Westpac has faced criticisms. One of the key challenges being faced by them from the emerged criticism is the negative word of mouth. This is due to the reason that, emergence of this accusations caused negative impact on the customers. Westpac has gained the impression of being an unethical business organization even without being indulged in unethical practices by own. However, they have initiated various steps in order to reduce the implications of the criticisms. One of the key steps being initiated by them is to offering a public apology regarding the case. They have stated that, they will stop lending to their clients who are accused of having unethical business practices. Moreover, they have also stated that, from now on, they will closely monitor the activities of their client before providing services to them. Initiation of the public apology helped to reduce the negative impression on their customers along with informing them that Westpac is not supportive of these unethical issues. Remuneration offered by Westpac New Zealand Another criticisms being faced by them in the recent times is regarding the payment structure of the top boss of Westpac in New Zealand. This is due to the reason that, according to the reports, George Frazis, top head of Westpac in New Zealand is the highest paid executives in the whole country by attracting an annual package of USD 5.59 million (Banker's $5.5m package 'unethical', 2018). However, it was being heavily criticized by the employee union due to the reason that, the national economy is being going through economic slowdown. In addition, they have also stated that, being the fact that Westpac is supported by deposit guarantee scheme of the government, providence of this much salary will have the impression among the customers that, their deposited money is being using. This accusation caused damage in the overall reputation and goodwill of the organization in the market of New Zealand. However, in defending the move, Westpac has given the statement that, the annual package of their boss is being reduced and the salary is being calculated based on their internal rules and regulations. It was also being told by them that, their CEO held important posts in his previous institutions also and thus, he is eligible to have that salary. However, in this case, Westpac has not being able to deal with the situation effectively as they have done in the previous case. Determination of the competition for Westpac Threats of new entrants Threats of new entrants in the financial market of Australia are less due to the reason that, it involves huge investment. Moreover, goodwill and reputations matters most for the customers and thus established players enjoy the non-existence of new players in the market. However, there are various smaller organizations offering low cost services to their customers, which may grow in the future. Bargaining power of suppliers Banking organizations are having dependent on different suppliers due to the reason that, they cats as the middle man between the process of lending and accepting deposit. Suppliers are having more bargaining powers due to the reason that, they can determine the rate of lending of Westpac. Thus, the more will be the higher bargaining power of the suppliers, the less will be the profitability of the banks. Bargaining power of buyers There are huge number of buyers are available in the market along with having numerous players. Buyers are having diversified requirements from the banks. With the increase in the competition in the market, the bargaining power of the buyers will get increased further. Threats of substitutes In the recent times, there are various unconventional substitutes such as online payment bank and Bitcoin are being emerged in the market. Already, there are various competitors plying in the market, which is further increased the competition. Thus, the threat of substitutes is more for Westpac. Industry rivalry With having the presence of various competitors, the rivalry is more in the market. Moreover, more intense competition in the market will further reduce the profitability of Westpac. Thus, the intensity of the industry rivalry is high for Westpac. Determination of the internal environment of Westpac Strengths Highest number of branches in Australia helps them to cover more number of customers. Having rich heritage helps them to gain positive word of mouth in the market. Having the market presence outside of Australia helps them to reduce the dependency on single market. Weaknesses Huge competition in the market is reducing the profitability. Having their overseas operations only in New Zealand. Emergence of various criticisms reduced their goodwill and reputation. Opportunities Acquiring and merging with some of their competitors helped them to cut off the competition and increased the market potentiality. Initiation of latest technologies will be able to cover more number of customers. Entering in the developing market will further enhance the market opportunity for Westpac. Threats Uncertainty in origination of the accusations and criticisms. Emergence of economic slowdowns. Westpac Leadership Being one of the leaders in banking sector of Australia it is important for Westpac to incorporate to incorporate appropriate leadership style to gain competitive advantage by managing the workforce and directing the team towards growth. Being a customer service provider, it is important for directing the focus towards the customer satisfaction by engaging the employees. The extreme pressure of the competition in target market demands the leader to be motivate and encouraging for overcoming the workload in the industry (Bels, 2013). This led Westpac to incorporate a mixture of service leadership and the transactional leadership for keeping the employees motivated. The transactional leadership has two primary dimensions that are contingent rewards and management by exception (Clarke, 2013). The contingent reward helps the leaders to encourage the workforce with the benefits of providing extreme support to the organization, whereas, the management by exception makes the leaders to focu s to the areas in need. The service leadership on the other hand helps the organization in providing the customers extremely satisfactory experience its customers across the channels (Jiang, Chuang and Chiao, 2015). This leadership style requires the leaders in sharing the activities of their employees. Though Westpac is successful in providing quality service to their customers and is successful in positioning themselves as one of the leaders in the market, they can explore greater efficiency using the transformational leadership style. This style of leadership is believed to bring employee satisfaction and potentially increase the employee performance and their organizational commitment. The four primary component of this leadership are charisma, inspiration, individualised consideration and intellectual stimulation (Braun, Peus Weisweiler and Frey, 2013). This allows the leaders to have greater administration over the employees, which in turn makes them focus on the evaluation employee performance for offering them reward according to the service provided. This will also communicate the termination of the employees for performance lag. This further encourages the employees by appealing to the self-actualisation (Choudhary, Akhtar and Zaheer, 2013). Organizational culture Organizational culture is a unique phenomenon particular to the specific organization. This is considered as a powerful force that play active role in determining the organizational behaviour. Culture of an organization is based on the mission, values and beliefs held by it (Kaufman and McCaughan, 2013). Other elements of culture as identified by Al-bahussin and El-Garaihy (2013) are control system, organizational structure, power structure, and rituals and routines. Westpac has integrated a high level of discipline system in their organization for focusing on their mission and vision. Moreover, they believe in providing their customers the best service in the region. Their focus is to provide the high quality customer service through the integration of high performance workforce and culture. The business is driven by the core values of the organization that are: Formulate economic solution to the environmental change Provide assistance to the customers for attaining sustainability in the financial future. The company aims to address these values through their business activities. They seek to delight their customers by understanding their needs and provide service as one single team. This concept of one team helps the organization in creating respectful and discipline workplace environment (Anon, 2018). Integrity further facilitates in attaining high level of organizational discipline. Conclusion Thus, from the above discussion, it can be concluded that, Westpac with the help of their effective corporate and business level strategies managed to gain the major market share in the Australian and New Zealand market. With having their diverse service offerings, they are being considered as one of the top four banks in Australia. However, this report has analyzed different issues being faced by them in the recent times. Moreover, the impact of the competition along with the opportunities and threats are also being discussed in this report. Reference Al-bahussin, S.A. and El-Garaihy, W.H., 2013. The impact of human resource management practices, organizational culture, organizational innovation and knowledge management on organizational performance in large Saudi organizations: Structural equation modeling with conceptual framework.International Journal of Business and management,8(22), p.1. Bels, J., 2013. The leadership style and the productiveness of employees in the banking sector in Slovakia.Journal of Competitiveness,5(1). Braun, S., Peus, C., Weisweiler, S. and Frey, D., 2013. Transformational leadership, job satisfaction, and team performance: A multilevel mediation model of trust.The Leadership Quarterly,24(1), pp.270-283. Choudhary, A.I., Akhtar, S.A. and Zaheer, A., 2013. Impact of transformational and servant leadership on organizational performance: A comparative analysis.Journal of Business Ethics,116(2), pp.433-440. Clarke, S., 2013. Safety leadership: A meta?analytic review of transformational and transactional leadership styles as antecedents of safety behaviours.Journal of Occupational and Organizational Psychology,86(1), pp.22-49. Drnevich, P.L. and Croson, D.C., 2013. Information technology and business-level strategy: Toward an integrated theoretical perspective.Mis Quarterly,37(2). Jiang, K., Chuang, C.H. and Chiao, Y.C., 2015. Developing collective customer knowledge and service climate: The interaction between service-oriented high-performance work systems and service leadership.Journal of Applied Psychology,100(4), p.1089. Kaufman, G. and McCaughan, D., 2013. The effect of organizational culture on patient safety.Nursing Standard,27(43), pp.50-56. Liu, Y., 2013. Sustainable competitive advantage in turbulent business environments.International Journal of Production Research,51(10), pp.2821-2841. NZ Herald, 2018.Banker's $5.5m package 'unethical'. [online] NZ Herald. Available at: https://www.nzherald.co.nz/business/news/article.cfm?c_id=3objectid=10688154 [Accessed 12 Jan. 2018]. Schwarten, E., 2018.New reasons to hate your bank?. [online] NewsComAu. Available at: https://www.news.com.au/national/oxfam-accuses-anz-nab-westpac-and-commonwealth-of-loaning-to-firms-engaged-in-unethical-practices/news-story/f132bcc29f27b5a301354aa9e6c558c0 [Accessed 12 Jan. 2018]. Westpac, 2018.Our history | Westpac. [online] Westpac.com.au. Available at: https://www.westpac.com.au/about-westpac/westpac-group/company-overview/our-history/ [Accessed 12 Jan. 2018].