The paper 'Western and Pacific Bank - Framework of Success" is a good example of a management case study. Westpac; a name derived by merging two words, Western and Pacific, represents one of the successful banks in Australia. The bank’ s headquarters are located in the heart of Sidney. In Australia, it is ranked among the four largest and customer-satisfactory banks; however, in New Zealand, it takes the second spot according to the 2014 Pacific business survey report. Additionally, in terms of assets, the bank takes the first spot in Australia with more than 1200 branches and over 2900 ATM machines countrywide (Keating, et al. , 2008).
2011 statistics reveal that Westpac bank serves more than 12 million banking customers. Research findings reveal that the success of Westpac bank is based on effective and efficient strategic planning performed by the bank’ s highly qualified management staff (Welter and Smallbone, 2011). This paper seeks to present a case study of Westpac bank and establish the bank’ s framework of success. Contextual discussion Importance of understanding behaviour in selecting new staff Westpac’ s managerial approach to selecting new staff reflects an understanding of individual behaviour; moreover, it is the main strategic reason behind the bank’ s tremendous success (Cuganesan, 2006).
The credibility of this statement lies in the behavioural theory of management which suggests that if managers understand the behaviour of the business workforce, they can easily motivate the employees to achieve the business’ set goals (DeRue, et al. , 2011). It is because; when the management shows interest in the well-being of the employees, the employees feel appreciated and accepted as being part of the business family. The objectives of the business become part of their responsibility which prompts them to work hard to fulfil their part (Welter and Smallbone, 2011).
Using this approach the management is able to understand the weaknesses and strengths of every individual employee and by doing so, they are able to capitalize on the employees’ strengths to overshadow their weaknesses (Ho and Wu, 2006). This practice leads to the exploitation of the employees’ full potential and capability which directly promotes business success. Westpac management understood the principles of the behavioural management theory and applied them effectively and efficiently to suit its objectives (Freeman, 2010).
For instance, basing on the aspect of behaviour (the form of conduct between one person to another), the theory suggests that if employees are treated like human beings as opposed to automatic machines, they respond in a positive manner (DeRue, et al. , 2011). Given that it is a work environment, the employees tend to focus on the well-being of the company. This means that the employees tend to focus on their work by dedicating their entire knowledge, abilities, experience and time to ensure that they succeed in every task (Assink, 2006).
In this regard, they influence high productivity in that particular business organization. The same case applies to Westpac bank, whereby, the management staff of the bank understood that many business organizations did not appreciate mature-age employees (Keating, et al. , 2008). In fact, they discriminated them based on the false beliefs that mature-age employees were slow in the execution of their tasks, adamant to learn new skills and technology, hard to supervise, and generally unproductive because they are always looking forward to retirement rather than performance at work.
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