country
$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!

Strategic Development Within National Australian Bank (Nab)

tag 5 Downloads9 Pages / 2,084 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT

Question:

Discuss about the Strategic Development Within National Australian Bank (Nab).

 

Answer:

Introduction

National Australian Bank (NAB) has been referred to as one of the leading financial institution with its operations in New Zealand (NZ), Asia & Australia. NAB has been referred to as one of the leading financial institution in terms of number of customers and market capitalization. NAB has more than 110 branches and more than 4, 000 ATMS/ service centers all over NZ, Asia & Australia. Leadership style refers to the way in which the leaders communicate within the organization. Using an appropriate leadership style is referred to as one of the key aspects for smooth functioning within the organization. There are two main leadership styles which are followed at NAB i.e. transformational & transactional leadership. NAB has the following eight divisions under its head i.e. personal banking, Private Wealth, business banking, wholesale banking, specialized functions & corporate functions.

 

Mission, Vision & Competitive Advantages

Mission: The mission of National Australian Bank (NAB) is to provide apt solutions to its customers keeping in mind the requirements of the same. They also believe in recognizing the profitability for long term success. NAB also helps to create a working environment which is built with confidence & helps to boost the morale of the employees in the long run. NAB also helps in providing a positive contribution towards the development of the society as well as strength the quality of service (Foss, 2007).

Vision: The vision of National Australian Bank (NAB) is to become one of the most respectable banks of Australia. Our vision is to become the best in the banking sector. We management team at National Australian Bank (NAB) believes in success (Special Issue of Strategic Organization, 2015).

Competitive advantage: Competitive advantage refers to outrun the competitor by using different strategies. Competitive advantage helps any organization to maintain a favorable position amongst its competitors and help to boost the image of the company in the long run. Competitive advantage helps the organization to have a better identification & understanding of the customers in the best possible manner. Some of the ways in which NAB has attained competitive advantage as compared to its rivals have been discussed as follows:

  • The primary role of NAB is to facilitate smooth flow of money & capital in the market so as to meet the needs of the customers.
  • NAB provides transactional banking which helps the customers to earn hefty amount of income.
  • NAB also invests high amounts in attracting as well as developing people so that they can create a diverse workforce which enables to execute the strategies (Papanastassiou & Pearce, 2009).
  • NAB’s business operations helps to attain high levels of dividend & taxes to the government officials.
  • NAB has been known for improving the reliability as well as the speed of the process.
  • NAB aims to improve as well as manage the way a business operates. NAB has made efforts to become a profitable business in the long run. It has been known as a performance driven organization (Dellaportas, Cooper & Braica, 2007).
  • A strong organizational culture has helped NAB to successfully execute the vision & strategy at Australia & New Zealand’s (NZ) most respectable banks.
  • The customer experience at NAB has been referred to as one of the best i.e. in which it operates. NAB helps in providing one of the best experiences for its customers & attain critical success within the premium portfolio segments (Sethurama & Suresh, 2014).

Strategies Used in Past

Some of the strategies used in past by National Australia Bank (NAB) to promote its product has been discussed as follows:

  • Free items: Free items helped customers to get attracted at a bank. It was seen that, majority customers used to get ready to switch their bank in eagerness of attaining a small gift as a sweet gesture. Banks used to analyze their target customers in order to witness what shall be provided as a gift (Skowron-Mielnik, 2011).
  • Word of mouth: Word of mouth was referred to as one of the most common and powerful marketing tool. People used to encourage their friends or colleagues to open a savings or current account in a particular bank. This helped the people working in a bank to attain referral.
 

Strategies Used Currently

Strategies which are used currently by National Australia Bank (NAB) in order to market their products have been discussed as under:

  • NAB focuses on advertising their three main range of products such as home loans, business loans & credit cards.
  • Brand awareness has helped the financial institution to grow and attain first mover advantage so as to remain competitive in the long run (Hansen, 2007).
  • NAB has used certain strategies to attract its customers which will help to retain competitive advantage.
  • Use of technology: Technology plays a vital role in deciding the success of a particular organization. With the use of smartphones, internet majority customers have started practicing banking online. Description of all the products by the bank will be displayed on the portal which will help the users to manage their account in the best possible manner (Skowron-Mielnik, 2011).
  • Providing credit cards to college students, independent working women, will help the customers to get attracted towards NAB. Offer cards with low rate of interests will appeal the customers to procure the same.

Business Controversies/ Criticism:

The subsidiary of NAB in Irish was under inquiry for more than 6 years which was carried out by the police inspectors in the Irish High Court. The main reason for the same was engaging in overcharging of customers & tax evasion scheme applicable before 1998 (Hansen, 2007).

  • Controversy 2:

In the year 2004, NAB had resulted in unauthorized foreign currency options by losing more than $400 million. The reason for the same was, failed speculative position wherein the traders falsified the profits in order to generate more revenues. The speculation was made on US dollars as compared to other currencies (Hansen, 2007).

 

Environmental Analysis

PESTLE analysis: The PESTLE analysis for National Australian Bank (NAB) has been described as follows:

  • Political analysis: Political analysis in terms of financial institution refers to deregulation and privatization. With the entry of financial deregulation, the National Australian Bank (NAB) were asked to emboss high fees & cut down the services whenever possible.
  • Economic analysis: The capital position at NBA is measured by the standard ratio. Hence, NBA strengthens the capital levels with stronger impact on neutralizing the capital framework (Kirkman & Shapiro, 2001).
  • Social analysis: It has been stated that, banks play an important role in supporting communities by offering various literacy programs. This bank also provides advantages to youth in terms of educational facilities such as education loan, etc.
  • Technological analysis: National Australian Bank (NAB) has been referred to as the first Australian Bank which offers customer satisfaction & settlement. This bank also provides 24 hours access with the help of ATM and telephone banking. It has been referred to as an online broker which provides facilities such as Net Banking & Securities (Kirkman & Shapiro, 2001).
  • Legal analysis: National Australian Bank (NAB) has started a program by the name open advice review (OAR). This review takes into consideration the following aspects such as negotiating with independent parties, preparation & focusing upon the documentation. The OAR program has certain challenges like financial services to the customers, scope and timings of the financial assets, determine the scope & estimation of customers with the bank (Kirkman & Shapiro, 2001).
  • Environmental analysis: NAB has been referred to as one of the largest financial institutions in Australia & New Zealand (NZ). In the year 2012, NAB also won the sustainability awards and also has major impact in attaining the position with best leadership indices.

 Swot Analysis

Strengths

Ø  National Australian Bank (NAB) has been referred to as one of the most respectable banks all over the globe.

Ø  NAB has established itself as a strong brand in the banking sector with good financial position as well (Gabriel, n.d.).

Ø   It is one of the leading financial institution with diverse range of products & services.

Ø  NAB is the largest bank in terms of assets.

Ø   

Weakness

Ø  National Australian Bank (NAB) has no global acclaim.

Ø  National Australian Bank (NAB) has seen decline in the revenue level along with less growth and development in the same (Zhang, 2008)

 

Opportunities

Ø   The first opportunity with National Australian Banks (NAB) is to expand itself as a brand in other countries as well (Cherian & Farouq, 2013).

Ø  The bank shall offer diversified products & services with varied portfolio for its customers (Gabriel, n.d.).

Ø  National Australian Bank (NAB) shall explore options such as acquisitions & Joint venture so as to expand its name in other regions as well.

Ø  The bank shall also focus upon new sectors such as asset management.

Threats

Ø  Change in the government regulations & financial crises pose high levels of threats at National Australian Banks (NAB).

Ø  National Australian Bank (NAB) faces stiff competition from its rivals in the Australian & NZ market (Dellaporta, Cooper & Braica, 2007).

Ø  Some of the immediate rivals of NAB are Bank of America, Citigroup, Deutsche Bank, PNB Paribas, Royal Bank of Scotland (RBS) & Hong Kong Scotland Bank Corporation (HSBC).

 

 

Leadership Style & Organizational Culture within National Australian Banks (NAB)

Leadership style refers to the way in which the leaders communicate within the organization. Using an appropriate leadership style is referred to as one of the key aspects for smooth functioning within the organization. Some of the leadership styles used at National Australian Banks (NAB) have been discussed as follows:

  • Transactional Leadership: Transactional Leadership has been referred to as a type of leadership practice which is mainly practiced at NAB. The main focus in transactional leadership is to know the needs of the consumers. This will help to attain the organizational goals in the best possible manner (Anon, 2015).
  • Transformational leadership style: The second type of leadership style which is used at NAB is transformational leadership. In this type of leadership style, the leader has moral qualities & it sacrifices its own interest as compared to the group’s interest (Charteris-Black, 2007).
 

Conclusion

Hence, it can be concluded that National Australia Bank has been referred to as one of the leading banks with major presence in Australia & New Zealand (NZ). NAB has been referred to as one of the leading financial institution in terms of number of customers and market capitalization. NAB has more than 110 branches and more than 4, 000 ATM/ service centers all over NZ, Asia & Australia. This assignment takes into consideration, mission vision and competitive advantage of the same. The report is then followed by the strategies used by NAB and strategies that are currently in use by NAB. Environmental analysis has been performed for National Australia Bank (NAB) using to main marketing tools i.e. PESTLE analysis & SWOT analysis. Lastly, the use of two main leadership styles i.e. transformational & transactional leadership shall be practiced at National Australia Bank (NAB) has been discussed. 

 

 

References

Anon, (2015). Annual Review 2015. [online] Available at: https://www.nab.com.au/content/dam/nabrwd/About-Us/shareholder%20centre/documents/annual-review-interactive.pdf [Accessed 30 Sep. 2016].

Charteris-Black, J. (2007). The communication of leadership. London: Routledge.

Cherian, J. and Farouq, S. (2013). Does Effective Leadership Style Drive Financial Performance of Banks? Analysis in the Context of UAE Banking Sector. International Journal of Economics and Finance, 5(7).

Dellaportas, S., Cooper, B. and Braica, P. (2007). Leadership, Culture and Employee Deceit: the case of the National Australia Bank. Corporate Governance: An International Review, 15(6), pp.1442-1452.

Foss, N. (2007). Strategic belief management. Strategic Organization, 5(3), pp.249-258.

Gabriel, K. (n.d.). Organizational Development, Organizational Culture and Organizational Change.SSRN Electronic Journal.

Hansen, P. (2007). Organizational Culture and Organizational Change: The Transformation of Savings Banks in Denmark, 1965-1990. Enterprise and Society, 8(4), pp.920-953.

Kirkman, B. and Shapiro, D. (2001). The Impact Of Cultural Values On Job Satisfaction And Organizational Commitment In Self-Managing Work Teams: The Mediating Role Of Employee Resistance. Academy of Management Journal, 44(3), pp.557-569.

Papanastassiou, M. and Pearce, R. (2009). The strategic development of multinationals. Houndmills, Basingstoke, Hampshire: Palgrave Macmillan.

Sethuraman, K. and Suresh, J. (2014). Effective Leadership Styles. IBR, 7(9).

Skowron-Mielnik, B. (2011). Strategic Factors Affecting Flexible Work Model Development.Organization and Management, 2011(5 (148).

Special Issue of Strategic Organization: "Strategic Management Theory and Universities". (2015).Strategic Organization, 13(4), pp.365-367.

Zhang, Y. (2008). Large Chinese state-owned enterprises. Houndmills, Basingstoke, Hampshire, [UK]: Palgrave Macmillan.

Download Sample

Get 100% money back after download, simply upload your unique content* of similar no. of pages or more. We verify your content and once successfully verified 100% value credited to your wallet within 7 days.

Upload Unique Document

Document Under Evaluation

Get Credits into Your Wallet

*The content must not be available online or in our existing Database to qualify as unique.

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2018). Strategic Development Within National Australian Bank (Nab). Retrieved from https://myassignmenthelp.com/free-samples/strategic-development-within-national-australian-bank-nab.

"Strategic Development Within National Australian Bank (Nab)." My Assignment Help, 2018, https://myassignmenthelp.com/free-samples/strategic-development-within-national-australian-bank-nab.

My Assignment Help (2018) Strategic Development Within National Australian Bank (Nab) [Online]. Available from: https://myassignmenthelp.com/free-samples/strategic-development-within-national-australian-bank-nab
[Accessed 02 July 2020].

My Assignment Help. 'Strategic Development Within National Australian Bank (Nab)' (My Assignment Help, 2018) <https://myassignmenthelp.com/free-samples/strategic-development-within-national-australian-bank-nab> accessed 02 July 2020.

My Assignment Help. Strategic Development Within National Australian Bank (Nab) [Internet]. My Assignment Help. 2018 [cited 02 July 2020]. Available from: https://myassignmenthelp.com/free-samples/strategic-development-within-national-australian-bank-nab.


Stuck with the due dissertation paper for long? Get down to MyAssignmenthelp.com, where you can find all the necessary assistance regarding dissertation writing. If you don’t know how to write a dissertation or struggling to figure out how to write a literature review, the experts at MyAssignmenthelp.com can do the whole task for you. The experienced team of experts is quite brilliant when it comes to preparing the dissertation structure as per your requirements. Whether it is writing a dissertation proposal, dissertation methodology or the dissertation conclusion – the team can do it all with perfection across all kinds of dissertation topics.

Latest Samples

10420 N McKinley Drive

Download : 0 | Pages : 3

Answer: Introduction: Zara being a well-known brand of Inditex, is facing a dilemma that whether they should change their existing information technology system by incorporating different operating system. The organization has been expanding at a rapid rate and upgrading their POS terminals was necessary.  Zara had developed their own customized logistic and supply chain, which was supported by their own written programs so incorporating...

Read More arrow

CHCCCS017 Provide Loss And Grief Support

Download : 0 | Pages : 8
  • Course Code: CHCCCS017
  • University: Victoria University
  • Country: Australia

Answer: Introduction: A loss is said to have occurred when the event has left a negative impact upon the individual, leading to a permanent change in his or her ways of seeing life, decision making and keeping social relationships. Tangible losses are categorized into personal (eyesight), interpersonal (lover) or symbolic (reorientation of home). Intangible psychological loss mainly comes through changes in perceiving one’s self-worth a...

Read More arrow Tags: Australia New South Wales Management University of New South Wales 

AQ019-3-2 Forensic Accounting And Fraud Examination

Download : 0 | Pages : 5
  • Course Code: AQ019-3-2
  • University: Asia Pacific International College
  • Country: Australia

Answer: Introduction For the purpose of this project time series data has been collected from world bank. The data on average monthly rainfall in Malaysia for the 9-year period from 2007 to 2015 has been collected for this study. A total of 108 data points are available for the analysis. The analysis has been conducted using the statistical software SPSS version 20. The original time series is plotted in figure 1. From the figure, it can be ...

Read More arrow Tags: Australia Melbourne Economics Management University of New South Wales 

BUS 420 Global Strategy For The Pharmaceutical Biotechnology Industry

Download : 0 | Pages : 12

Answer: Introduction The following report is about the deal that has taken place between AstraZeneca and Aspen. These two companies have been in the medical sector or industry for a long time. The primary purpose of this report is to highlight the different factors that will emphasise on the different perspectives like the deal that has taken place between them.  The critical issues that would be highlighted in this report are the global...

Read More arrow

MKT103-Importance Of The Integrated Marketing Communications Plan For Firm

Download : 0 | Pages : 5
  • Course Code: MKT103
  • University: McMaster University
  • Country: Canada

Answer: Introduction In this scenario, where a marketing research company has given me a short-term internship, I would follow various approaches to examine the commercial client base using the current academic research. A bottom-up and top-up marketing approach will be applied. Notably, a bottom-up marketing approach has no single definition. Instead, it has a few unique features that differentiate it from the top-down strategy which is rega...

Read More arrow
Next
watch

Save Time & improve Grade

Just share Requriment and get customize Solution.

question
We will use e-mail only for:

arrow Communication regarding your orders

arrow To send you invoices, and other billing info

arrow To provide you with information of offers and other benefits

1,354,168

Orders

4.9/5

Overall Rating

5,080

Experts

Our Amazing Features

delivery

On Time Delivery

Our writers make sure that all orders are submitted, prior to the deadline.

work

Plagiarism Free Work

Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.

time

24 X 7 Live Help

Feel free to contact our assignment writing services any time via phone, email or live chat.

subject

Services For All Subjects

Our writers can provide you professional writing assistance on any subject at any level.

price

Best Price Guarantee

Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.

Our Experts

Assignment writing guide
student rating student rating student rating student rating student rating 5/5

234 Order Completed

100% Response Time

Samantha Ji

PhD in Chemistry with Specialization in Organic

Singapore, Singapore

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

230 Order Completed

97% Response Time

Liya Han

Master Of Science in Geotechnical Engineering (MSc Geotec)

Singapore, Singapore

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

416 Order Completed

95% Response Time

Tyler Moore

MBA in Accounting

Washington, United States

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

2109 Order Completed

99% Response Time

Emma Zhong

Ph.D in Project Management with Specialization in Project Communications Management

Singapore, Singapore

Hire Me

FREE Tools

plagiarism

Plagiarism Checker

Get all your documents checked for plagiarism or duplicacy with us.

essay

Essay Typer

Get different kinds of essays typed in minutes with clicks.

edit

GPA Calculator

Calculate your semester grades and cumulative GPa with our GPA Calculator.

referencing

Chemical Equation Balancer

Balance any chemical equation in minutes just by entering the formula.

calculator

Word Counter & Page Calculator

Calculate the number of words and number of pages of all your academic documents.

Refer Just 5 Friends to Earn More than $2000

Check your estimated earning as per your ability

1

1

1

Your Approx Earning

Live Review

Our Mission Client Satisfaction

it\'s an excellent essay, Great work! Quick and efficient, quality writing. Got the assignment done in a few hours with all information included. Thankyou for all your hard work !12313434135134513461353145134b435134

flag

User Id: 401482 - 02 Jul 2020

Australia

student rating student rating student rating student rating student rating

it\'s an excellent essay, Great work! Quick and efficient, quality writing. Got the assignment done in a few hours with all information included. Thankyou for all your hard work !

flag

User Id: 401482 - 02 Jul 2020

Australia

student rating student rating student rating student rating student rating

My assignment was due in such as short time, and my helper did an excellent job. I was in awe of their writing skills. Thank you very much. It was well worth the cost!!! Recommend 10/10.

flag

User Id: 454789 - 02 Jul 2020

Australia

student rating student rating student rating student rating student rating

Thank you for the great help. Delivered on time and in good quality. Will come back with another assignment in the future.

flag

User Id: 446356 - 02 Jul 2020

Australia

student rating student rating student rating student rating student rating
callback request mobile
Have any Query?