Essays on Globalisation of ANZ Banking Corporation Case Study

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The paper “ Globalisation of ANZ Banking Corporation” is an engrossing variant of the case study on finance & accounting. Presently, there is significant competition in the global banking market, as evidenced by the growing number of financial institutions both in Australia and globally. Noteworthy changes in information technologies have as well braced remarkable chances for online banking. This change, along with an increasing demand for long-term professional banking as well as fortified demands by customers for tailored banking systems, has resulted in noteworthy shifts in the banking industry (Cetorelli & Goldberg, 2012, p. 1814).

Basically, in the current globalization epoch, the key to success as well as survival for scores of financial institutions, including ANZ bank is to nurture strategic partnerships that make them competitive as well as provide various services to clients. In analyzing the impact of and obstacles to diversification, acquisitions, and mergers in the banking industry, it is imperative to mull over the keys to continued existence in this industry: Comprehending the entity customer's expectations and needs; offering customer service customized to meet the expectations and needs of the customers (Amihud & Miller, 1998, p. 16).

The essay critically examines the managerial implications for borderless organizations and identifies as well as considers ANZ management’ s local responsibilities for transnational corporate customers. DiscussionANZ bank is competing in an international market, but globalization is yet to generate a key market in the world. According to Ahmad (2012, p. 62), there has been marketplace fragmentation into scores of niche markets spreading across the world. A number of such niches are evidently bigger as well as potentially more cost-effective as compared to others. Globalization, however, is not an assurance of an international market with lots of customers standing by to purchase the services or products of ANZ bank.

In a globalized financial system, there are heightening desires for standardized technical infrastructure, services, and products, as well as a necessity for multifaceted and complicated systems of communication. What ANZ bank is experiencing are new levels of international interdependency being entrenched by means of new trades, especially in knowledge and skills, services’ trade as well as the current surfacing of worldwide e-commerce.

References

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Yeates, C., 2014. Overseas expansion has pros and cons, warns global adviser Andrew Sheng. [Online] Available at: http://www.smh.com.au/business/overseas-expansion-has-pros-and-cons-warns-global-adviser-andrew-sheng-20140430-37hz3.html [Accessed 23 September 2014].

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