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Organisational Change in Anz Bank

Essay by   •  November 19, 2017  •  Research Paper  •  3,575 Words (15 Pages)  •  1,277 Views

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Executive Summary:

Change initiatives are time consuming and costly, significantly impact an organization’s drive toward success. The purpose of this research assignment was to find how changes affect an organization and its cultural overall. This report includes detail analysis, discussions and findings by applying different models of change management like Kurt Levin’s Change Model, Principles of change management and John k potters eight steps to successful change. It also includes social change perspectives of managing change. This report evaluates the Merger of ANZ with the National bank, how it culturally affected the organization, how they amend changes, what went wrong during the merger and some conclusions and recommendations.

Table of Contents:

1. Introduction

  • History of the organisation
  • Vision & Mission Statement
  • Products & Services
  • Structure
  • PESTLE Analysis

2. Findings and Discussions:

2.1 Perspectives on Managing Change

  • Rational Perspective
  • Institutional Perspective

2.2 Change Curve:

2.3 Kurt Lewin’s Change Management:

2.4 John P kotter’s eight steps to successful change:

2.5 10 Principles of change management:

3. Achievements

4. Technology

5. Conclusions and recommendations

6. References

1. Introduction:

ANZ is one of the biggest banking firms in Australia and New Zealand and a leading worldwide banking and financial services group, which is among the top major banks in the world.

The antiquity of ANZ’s gets back over 170 years which comprises the merger of many banks to form the ANZ Banking group. The first branch was opened in 1835 in London when the bank of Australasia was established under Royal charter and later on followed by the formation of the English, Scottish and Australian bank in 1852.

ANZ is now one of the major banking brands in New Zealand through both of its brands, ANZ Bank and The National Bank (purchased by ANZ in 2003)(

Vision & Mission Statement-

The purpose and vision of the ANZ is to help shape a world where people and communities succeed. That’s why they endeavour to create a composed, viable economy in which everyone can take part and build a better life.

They trust that the value of banking is not dignified in dollars and cents. Its true worth lies in the relationships built by relating people and businesses. It’s about unlocking openings that empower the community to transform and grow.

Today, their history and experience unifies with innovation. There are more aspects to what we do than ever before, but everything is reinforced by the same values we’ve always had: Integrity, Collaboration, Accountability, Respect and Excellence (ICARE)

Products & Services:

ANZ provides a wide number of products for personal, small business and corporate banking which includes electronic solutions, account structuring, credit cards, merchant services, and EFTPOS products.


ANZ is having a divisional structure where the chief executive officer sits at the top and each division within its structure corresponds to either products or geographies of the organization

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PESTLE Analysis:


The geo-political environment can have an immense impact on bank’s operations and profitability. The current political instability in Iraq and Syria with the ongoing war by the US and its allies, the defiant attitude of North Korea and the increasing terrorist activities all around the world have affected banking business overall.


Worldwide and regional economic growth has a great effect on bank’s revenue and its profit generating capabilities. The economic environment for ANZ has been pretty positive till date and the same trend is expected to continue in future as well because Australia is holding strong economic growth as well.


Technological factors also has a major role in the bank’s overall operating efficiency and customer satisfaction.ANZ is having a proactive approach in this regard and is committed that it has a medium to long term vision for technology. The bank has introduced full digital certificate technology which offers a more secure online environment for its customers and has helped ANZ complement its trust and security initiatives to position itself as a global leader in the financial industry.

Legal Analysis:        

Each and every financial institution is required by law to comply with regulations and standards.ANZ has to follow the same guidelines and ensure compliance with all the legal requirements relating to its business operations. Since, the face that ANZ has operations in a larger number of countries, the bank is affected by laws and regulations in every jurisdiction.

Social and Environmental Analysis:

Environment and social factors present several risks to financial institutions especially in their financial lending activities.Therefore,ANZ  has adopted  client screening tools to assist in the credit approval process which helps them identify high risk and low risk borrowers. This has helped the bank minimize the negative impact of social factors as well as identify business opportunities in light of the social environment. (ANZ official website)

2. Findings and discussion:

2.1 Perspectives on Managing Change-

Rational Perspective:

This is concerned with the organisation’s ability to achieve its goals that it has set for itself. To apply this approach the organisation has first to identify a goal for itself and define a set of means or objectives that can be employed to achieve this goal and put the objectives in action.

Following the Merger: When ANZ bought the national bank in 2003 and after nearly 10 years of reducing duplication between the two brands the next goal was to merge and link the accounts and database of both the banks together.ANZ customers were moved across to the national bank computer system as planned by the management, while customers were served by the same staff.



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