Creating Sustainable Learning Environments †MyAssignmenthelp.com

Question: Discuss about the Creating Sustainable Learning Environments. Answer: Introduction: In the recent times, organization faces variety of problem or challenges that becomes a great hurdle for their growth. The most common business challenges or issues can be different for various industry, service or business. The report highlights the major challenges faced by the management of ANZ Bank. There several external and internal factors faced by the firms. This factor provides potential threats and opportunities for all short-term and long-term growth of the firm in the business environment (Ferraro, Etzion and Gehman 2015). With the help of external and internal analysis of the business, the challenges faced by the organization can be evaluated. Through SWOT and PESTEL analysis, both the micro and macro environment can be analyzed. After analyzing the organizational management practices of the company all the opportunities and strengths can be easily evaluated. The organization can easily ascertain the area where management strengths can be easily aligned with the organizational goals. The Australia and New Zealand Banking Group Limited (ANZ Bank) was initially opened as the Bank of Australia. In the year 1835, the bank opened their first office in Sydney (Anz.com. 2018). Later, in the year 1938 the banks office was established in Melbourne, where the current headquarter of the bank is located. ANZ bank operates in more than 33 markets that is global representation in New Zealand, Australia, Pacific, and Europe and all over the Middle East. ANZ bank is the third largest bank all over Australia and is the largest banking group in Pacific and New Zealand among the leading banks in the world. The bank facilitates in providing range of financial and banking products and services to more than millions of customers. The bank also provides employment to more than 50,000 people all over the world. SWOT Analysis of the Organization: The factors affecting the organization can be analyzed by ascertaining both the external and internal analysis. SWOT analysis is very helpful technique to understand the organizational strength and weaknesses (Khan, Alam and Alam 2015). Moreover, the external threats and opportunities present in the business environment. This helps the organization to create a very special niche in the market. Strengths: ANZ bank focuses on attracting and retaining the potential individuals for the banks. To ensure high level of satisfaction to its customers major emphasis is given on attracting right talents from the diverse background on the basis of age, culture and gender. Talent management is the main strength of the organization. The bank provides rewards and recognition to its employees by continuously reviewing the present working conditions so that good working relation is maintained within the organization (Festing and Schfer 2015). being one of the largest bank in New Zealand it offers employment to various people throughout the country. Strong financial position of the organization provides resilience to the adverse market developments. ANZ bank is the leading bank that offers financial services to the employees that includes asset finances, investment and payment solutions (Collings 2014). The organization has a considerable amount of market shares in Pacific countries, Australia and New Zealand. Rich value based system of the organization leads to continuous growth of the organization. ANZ bank also follows welfare strategies for the community and environment. Weaknesses: due to fierce market competition in the global environment from the current players, it becomes quite difficult for the bank to increase their market shares. ANZ bank global exposure is limited comparatively to other leading banks. Poor technology is the major weakness of the company. In todays competitive market place, it is important for the banks to stay competitive with the latest technology. Most of the areas of the banks are aided by technology development. Mobile banking, on-site deposit, pop money is few of the techniques that are used by banks to gain competitive advantage. Controversies and scams are the other major weakness faced by the company. Recently in the year 2016, ANZ bank has to face a scandal involving the Malaysian leader and one of the ANZs bank subsidiaries. In the same year, another controversy took place due to misleading file notes that were presented to Victorian Supreme Court. Various interest rate fixation scandals are also another major weakness of the ANZ bank. Opportunities: ANZ bank is the first Australian bank to receive license from the government. The bank can easily conduct retail business in Yuan region of China. This also provides for the bank an immense opportunity to tap the business in Chinese market. The bank also provides high opportunities to grow in the Thailand market after receiving license from the government. Moreover, ANZ bank also has a high opportunity to expand its business in the Asian markets like India and China. In addition to this, employee engagement is another great factor that ANZ bank can enjoy in the rapidly growing economy of Australia and New Zealand. Most of the employees in Australia are highly enthusiastic, committed and involved to their workplace (Gerow, Thatcher and Grover 2015). High retention and low turnover rate is a great opportunity for the growth and development of the bank. The major advantage of investing in employee engagement is that it will lead to give higher productivity and profitability. Threats: the economic condition of New Zealand and Australia is deteriorating at a rapid rate. Drastic changes and fluctuations have been occurring in the banking system of Australia. There is also fierce competition from all the global banks present in Pacific regions and Australia, which is increasing at a rapid rate. Competitors threats are very high in the existing and evolving markets. Furthermore, several kinds of controversies that affect the business processes create a negative impact on the goodwill of the bank. This further leads to potential loss of target customers. The risk tolerance and appetite level is also quiet low and therefore is unable to meet the organizations strategic objective. Culture mismatch also poses a major threat to the ANZ bank growth and development. PESTEL Analysis: The PESTEL framework highlights six major factors for the management to consider while approaching the business environment. As pertaining to the macro-environment, various factors are also indicative of the complete business environment. The company faces variety of external factors that facilitates in providing major opportunities and threats for long-term success in the organization. Political: politics plays a major role in the businesses as there is a balance between systems of control and free markets. The regulatory bodies and issues affect the business that mostly revolve around taxes, potential subsidies, import and export tariffs. The Australian regulatory bodies and issues affect the business of the ANZ bank. The global economics now supersede the economics of banking businesses. ANZ bank also considers various opportunities and threats while identifying maximum areas for production, corporate or sales headquarter and expending into new regions. This also affects the trans-council and RBA implications of the ANZ bank. Generally there are low barriers of market entry in this developed economy. For instance, the political strife in pacific regions of Solomon Island, Fiji and Tonga creates an adverse impact on the environment. The growth rate and credit worthiness for all the business prospects and investment levels within the banks also face major consequences. Economic: The economic factors are the major metrics that assesses and measure the health of the economy. The main factors include gross domestic product (GDP), interest rates, consumer purchasing indices, inflation and various other indicators. The economy of a country and banking industry is interrelated to each other. The economic factors affecting ANZ bank is highly critical in nature. Change in economy whether, inflation or recession severely impacts the banking habits of the organization. The exchange rates also affect the ANZ bank at a global level. Stable currencies such as dollars affect the spending habits and currencies of people. The economic environment for ANZ has been fairly positive and in the near future it is expected it to be the same. Since the last year, the world economy has been expanded by 5.4%. The Australian economy, especially the region where ANZ bank is headquartered is in its growth phase and is continued towards expansion (Kader Ali, Wilson and Mohammad 2014). On the other hand, the growth rate of New Zealand is not that high and the expansion level is expected to be the same in the near future. However, the overall economic environment is highly positive for ANZ bank. This therefore indicates various business opportunities for the banks in the next few years. Social: social factors include the demographic analysis, where specific groups showcase tendencies or preferences that can threaten a given incumbent or can be leveraged. The culture of the individual affects the necessities and buying behavior and their application of banking options. Social factors often lead to various kinds of risks and challenges to financial institutions, mostly in its lending activities. ANZ bank also has to overcome this major challenge with effective implementation of decisions. The potential customers are always in the search of comfort and ease and as technology has developed, as the people accept major seamless banking experiences. Customer focused is the vital factor in the developed economy of Australia and New Zealand. ANZ bank applies client screening tool that helps in the credit approval process. This approach also identifies any high risk or low risk borrowers as per their social standings. Technological: technology plays a major role in the business that will continue to drive new innovation through research and development. Recognizing the potential technology is a great asset for the management that optimizes the internal efficiency of the firm. In the recent times, as technology is changing the techniques how a customer handle their funds and their banking habits is also improving. ANZ bank offers several mobile apps to transfer funds, mobile apps and customers can easily pay their bills through their smart phones. Smartphone can easily scan cheques and process the banking transaction from one location to other very easily. ANZ bank has launched full digital certificate technology that offers more secure banking and online environment for their customers. This has also helped ANZ to complements its security initiatives and trust level. Therefore, sustaining its position as a leader in the banking and financial industry at a global level. Environmental: in the recent times, the impact of the business on the environment is a major concern for the organization. Both the government and customers penalizes the companies, which adversely affects the environment (Reamer 2015). ANZ bank has developed a Social and Environmental policy so that it can monitor and ascertain any potential risks in the credit approval processes. ANZ bank has implemented significant principles that are applied for the investments and lending decisions in all of the developing countries. Due to the use of latest technology and with the help of mobile banking apps, the use of paper has tremendously reduced. Most of the issues are handled through online services, therefore reducing the adverse impact on environmental condition. These steps taken by the bank leads to minimize the negative impacts of its operational activities in the light of social environment (Tshelane and Mahlomaholo 2015). The company is also involved in corporate social responsibility and various kinds of environmental protection acts. Legal: adequate understanding of the legal scenario is vital for the businesses to avoid the legal pitfalls so that it could confine with the established regulations (Peltoniemi 2015). Banks are required to comply with the rules and regulations established by law. This rule is also applicable for the ANZ bank as they have to ensure compliance with all the operational business requirements. ANZ bank has its operation in various countries therefore the bank is bond to get affected by all the jurisdiction and law in which it operates. In Australia, it is mandatory for all the banks to operate as per the requirements of Banking Act, 1959. Therefore, ANZ bank has to take active part in the advisory bodies of government so that they can engage with the government officials and regulators on a continuous basis. Force Field Analysis: Any issues that is held in between interaction of two opposing set of forces seeks to promote major changes and therefore attempting it to maintain status quo is analyzed through force field analysis. While analyzing the force of changes, two major forces are taken into action that includes driving and restraining forces. Driving force s is usually the one that sustain the changes taking place in the banks while restraining force is the one that restraint the changes. Through force field analysis, it will be easy to determine all the strong driving and restraining forces of the ANZ bank. Through the force field analysis the organizational challenges as well as effectiveness can easily be determined. This method helps in devising an action plan that is required to improve the existing condition. Driving forces: these forces include all the factors that enable the firm to withstand certain pressures. The driving forces in the ANZ bank includes awareness of all the present social obligations accelerated training activity to face the changes, well defined and laid out policies, emphasis on customer services, development of training policy. This also includes willingness of the banks to change policies in various departments, well defined policies. Growing need to receive adequate feedback is also a major driving force for the organization (Ellison, Gibbs and Weber 2015). this leads the organization to adopt itself as per the required change. Furthermore, changing outlook of the union and development on the training policies is the major driving forces that sustain the present forces. Restraining forces: these forces are such factors that restraint the changes taking place in the organization. The top management of the financial organization restraint changes when the management is insensitive to the changing environment. The management power is inadequately utilized and is over centralized. Lack of technology or scientific information system is also a major threat for the organization as they are unable to make new changes (Kiptoo and Mwirigi 2014). Delayed decision by the management and ineffective manpower utilization also affects the changes that are made in the banks. Complex and time consuming procedures also restraints the organizational changes ANZ Management Challenges: The banking industries is constantly changing and thus facing a major challenge to achieve its desired goal. These changes can be due to various factors, which include changing customer expectations or preferences and upgraded technology (Ferraro, Etzion and Gehman 2015). The technological changes lead to highly increase the digital currencies. This transformation is driven by various regulations and some by the bank itself. If the changes are not made adequately then the staffs can easily lose their jobs. Therefore, this affects the overall banking and financial industry and thus ANZ is aggressively trying hard to adopt the given changes by practicing new techniques. From the ANZ bank perspectives, the products and services that are to be delivered should exceed or at least meet the expectation of customers. With relation to functionality and application, the delivered services should be of high quality. Moreover, the customized solution should be reliable, efficient and produced at a very reasonable cost. The major groups that require delivering the services to customer are faced through their own perspectives. This includes both technology and business. Business perspectives: each customers and individuals are unique in their own ways. The needs and demands of the customers mostly depend on their nature of businesses. This includes industry size, the expectation of their workers and the place where they work (Bell and Rochford 2016). As per the business perspectives, banks are required to negotiate with their customers so that they can easily understand the requirements and needs of the transactional banking. Technology perspectives: require enhanced solution that is required by the enhanced customer. The technical teams have to deliver advanced and technology related solutions to face the major changes. Technology is constantly changing and evolving to adapt to better practices is mandatory to achieve success in the long-term (Snchez-Torres and Miles 2017). Outdated software and process used by the banks have major impact on the performance and productivity of the organization. IT costs are also too high, which becomes quite expensive for the banks to implement. As the business expands, demands and workloads also increase the cost of implementing latest and upgraded technology and software. In the banking and financial industry, data security is the most crucial element for the business growth. Technology has become major and indispensable part of any kinds of business. It is a major challenge for the ANZ bank to embrace the latest technological changes and apply it as per their advantages. KPI of Agile Management Agile Management is an incremental method for managing the activities related to information technology and engineering in other business areas that aims to provides new services and products in a highly interactive ad flexible manner (Larson and Chang 2016). KPIs are the major decision making tools that enables the firm to make informed and strategic processes decisions. The bank mangers stakeholders and the agile teams require dimensional measures for performance contributed by the KPIs. Effective KPIs should therefore proceeded by strongly expressed enterprises and fundamental strategies (Haynes and AppelMeulenbroek 2014). Through proper agile work practices incremental work practices and agile methods should be adopted by the firms. Conclusion Organizational changes are the induced disturbances in the present power equations. The changes are felt more when the firm is needed to adopt fast and grow according to the required organizational changes. As a result the organization has to face spasm if there is any wave of changes. The organization has to thus reduce tensions by development of few forces to tackle the challenges. With the help of PESTEL and SWOT analysis, the macro and microenvironment of the ANZ bank has been analyzed. The major management challenges faced by the banking industry in Australia and New Zealand have also been evaluated. ANZ bank has to focus on both business and technological changes to gain maximum advantages. Therefore, it can be concluded that ANZ bank has to face various internal and external challenges to increase its profitability and efficiency in the long-run. References: Anz.com. (2018).Our values | ANZ. 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