Essays on Westpac Banking Corporation Company Overview Case Study

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The paper "Westpac Banking Corporation Company Overview" is a perfect example of a business case study. Westpac has a long history in the Australian banking sector, being the first and the oldest bank in the country. This bank was established in 1817 as the Bank of New South Wales and eventually changed its name to Westpac Banking Corporation in 1982 following the acquisition of the Commercial bank of Australia (Westpac website, 2012). The bank recorded heightened expansion following this acquisition. Despite the economic challenges at the wake of the financial slump in the 1980s, Westpac continued with its efforts for rapid expansion and successfully instigated the acquisition of Challenge Bank Limited, Western Australia, Trust bank New Zealand and Bank of Melbourne in 1995, 1996 and 1997 respectively (Westpac website, 2012). 2002 saw the bank advent some strategic reshaping which was characterized by the sale of its long-term finance company, Australian Guarantee Corporation Limited (AGC) to GE Australia.

Westpac merged with St George Bank Limited in 2008, a key strategy that culminated in the formation of a bigger multi-brand group with a diversified portfolio (Westpac website, 2012). The Bank has continued with its upward trend in terms of growth and elevated consumer base and despite the economic recession in 2008, Westpac has sustained a constant market share both in the Australian population and internationally.

By 2017, Westpac will reach a commendable milestone of being in business for two centuries and according to Westpac Group Annual report (2010), the firm is making efforts towards sustainability which entails managing and positioning the company for the long-term. Service quality assessment As aforementioned in the above discourse, the company has made integral strategic approaches to enhance the quality of service delivered through the continued meeting of the consumer demands.

This assessment will explore five dimensions of quality service delivery assessment namely tangibles, reliability, responsiveness, assurance and empathy. Tangibles Naik, Gantasala and Prabhakar (2010) defined tangibles as the appearance of the physical facilities, equipment, personnel and written material.

References

Australia Trade Commission (2011). Australia’s banking Industry. Canberra: Australia Trade

Commission.

Cohen, D., Gan, C., Yoong H., & Choong, E. (2006). Customer Satisfaction: A Study of Bank

Customer Retention in New Zealand. Retrieved April 27, 2012 from http://www.lincoln.ac.nz/Documents/2308_DP109dc_s6473.pdf

Kaynak, E., & Kucukemiroglu, O. (1992). Bank and Product Selection: Hong Kong. The

International Journal of Bank Marketing, 10(1), 3-17.

Naik, C.N., Gantasala, S.B. & Prabhakar, G.V. (2010). Service Quality (Servqual) and its Effect

on Customer Satisfaction in Retailing. European Journal of Social Sciences, 16(2), 231-243.

Naylor, M. & Greco, S. (2002). Customer chemistry: How to keep the customers you want – and

say “good-bye” to the ones you don’t. Chicago: McGraw-Hill.

Westpac Group (2010). Annual Review and Sustainability Report: Sustainability Matters.

Sydney: Westpac Group.

Westpac Group (2011). Westpac Group Annual Report 2011. Sydney: Westpac Group

Westpac website (2012). Retrieved April 27, 2012 from http://www.westpac.com.au

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