Case for Repositioning a Bank Essay Example for Free

Case for Repositioning a Bank Essay ANZ bank is over 170 years old providing a range of banking and financial products and services to more than 5.7 million retail customers on a global scale (case). . Offering 817 branches and 2600 automated teller machines (ATMs) all over Australia, ANZ is ranked in the top 4 banks in Australia along with Commonwealth Bank of Australia, National Australia Bank Ltd (NAB) and Westpac Banking Corporation. This report will identify the current position of ANZ, and how they are attempting to reposition themselves in the financial services industry. The case highlights the strengths and weaknesses of ANZ and how effective their current marketing strategy is. The strengths of ANZ which have been identified in the case are their highly customised bankcards, their trustworthy image and reputation, knowledgeable staff and the size of the firm. ANZ’s weaknesses are that their products are quite easy to imitate due to such intangibility, they are at the bottom compared to their competitors, the communication gap occurring through the reposition of their new brand and the inflexibility due to the large structure of the bank. This paper will explore two of ANZ’s main strategic issues which are the communication gap of through the repositioning and rebranding as well as ANZ’s competition in the financial industry. Key Strategic Marketing Issues The banking industry is very well established and has a limited selection of different products. Due to few substitute products, firms in the industry will find it hard to differentiate themselves from their competitors. Chenet, Dagger, OSullivan (2010) state that, differentiation is important because firms uniqueness is linked to target market focus, client-perceived value and competitive advantage. In result of ANZ’s lack of communicating their service quality, limited product diversity and lack of unadaptable strategies they are ranked number four of the top four banks. ANZ needs to address the amount of ATMs it has throughout the country. Compared to its major competitors, ANZ is one of the banks with the least amount of ATMs available to its customers with almost half the amount of ATMs compared to NAB. Theory ANZ is rebranding and repositioning itself it the market to appear more appealing to customers. They are moving from an  outdated brand and position of ‘ANZ Now’ to a new brand identity and positioning strategy of ‘We live in your world’ implying a modern and fresh new feel to the company. Throughout the rebranding and repositioning process, ANZ is using a customer-led marketing approach by trying to find what customers want and giving it to them (Hooley, Piercy Nicoulaud, 2012). However, ANZ is a very large firm which affects rebranding, creating a gap in the communication between the firm and their consumers. The slogan ‘We live in your world’ has been adapted to try and differentiate ANZ from its competitors in terms of customer satisfaction; however it has not been aimed consistently across all ANZ’s communication activities. This has resulted in confusion of the customers as well as a lack of awareness of ANZ’s message. Mayer (1975) found that larger firms can generally find it harder than a smaller firm to implement change across the whole organisation effectively and efficiently. Resources and Capabilities A resource is anything that is considered to be thought of as a strength or weakness of a firm and may be defined as those tangible and intangible assets that are tied to the firm (Wernerfelt, 1984). ANZ’s resources include the products they offer, size of the firm, the knowledgeable staff and the strong trust with their customers. ANZ seeks to â€Å"attract and develop the best connected and most respected people to be a part of the ANZ team† (ANZ, 2014). Having knowledgeable and highly skilled staff allows for a financial institution to create superior returns, thus a competitive advantage (lulow, V., Gerstman, J., Barry, C. 2003). The size of ANZ allows ease of access to funds which will appeal to their customers through providing loans, insurance, small business and corporate. Having a strong brand image and a good reputation, ANZ have had the opportunity to build trust with their customers. The large size of a firm can be a strength; however in turn can be a weakness. Mayer, T. (1975) identified that large banks have the potential to fail if customer service is overlooked. Due to the large amount of customers ANZ has, there is the possibility that relationships with customers may diminish. Furthermore, due to the large size of the firm ANZ may appear as inflexible and changes within the organisation may take a long time, such as the current repositioning of the firm. Creating confusing amongst consumers as the message is not being communicated effectively  across all of ANZ. Competitive Advantage ANZs major competitive advantage over their main competitors is this highly customised bankcards they currently offer to their customers. ANZ have used a customer-led marketing approach with their bankcards, as this approach finds what customers want, and give it to them (Hooley, Piercy Nicoulaud, 2012). This fits in well with their brand image they are trying to communicate; ‘We live in your world’. Rather than just providing bank cards to their customers as the other major banks do ANZ customises their cards allowing their customers to choose what colour card they want and further using their own pictures on their bank cards. This is giving the customers the chance to create their own products. These customised bank cards have given ANZ a first mover advantage allowing them to enjoy the protection of a resource position barrier (Wernerfelt, 1984). However, Barney (1991) states that to have a ‘sustained competitive advantage’ competitors are unable to duplicate the benefits of this strategy. The customised bank cards may not last that long as a major competitive advantage due to other firms being able to easily imitate what ANZ have done. Strategic Fit Skinner (1969) suggested that for a firm to strategically fit, they need to tailor their production systems to perform the tasks that are vital to success and consistent with the firm’s strategy. The current marketing strategy of ‘We live in your world’ is ANZs new an innovative fresh outlook on branding for the organisation. The strategic planning and strategic marketing of this strategy must penetrate the whole market orientation not just small sections (Hooley, Piercy Nicoolaud, 2012). This current strategy although isn’t fitting with the needs and requirements of the market. The failure of communication between ANZs resources and capabilities is causing the new strategy to not be implemented properly to its audience (Narver Slater, 1990). The strategy adapted isn’t connecting with their customers their desired outlook of what they wish to be perceived as. ANZ wants their consumers to focus on them being ‘trustworthy’ and ‘traditional’ but as of now they aren’t practicing what they preach. This is shown with customers feeling confused and unaware of the new adapted strategy. As  Hooley, Piercy Nicoolaud (2012) have found the marketing strategy needs to be aligned with the overall the relevant resources, capabilities so direction can be achieved and then the overall context of corporate strategy will be accomplished. Recommendation To ensure the repositioning of ANZ is effective, they need to communicate to their consumers more effectively. Rust, Moorman, and Dickson, (2002) found that â€Å"customers differentiate between service firms on the basis of service quality†. Therefore, ANZ need to offer superior customer service through the use of their highly skilled and knowledgeable staff. The best way for ANZ to differentiate their selves is through superior quality. Farrell, Hitchens, Moffat (1993) found that, superior quality is an effective management strategy as it helps separate firms from competitive rivalry by creating customer loyalty.

Character Analysis of Blanche DuBois in Tennessee Williams A Streetcar

Character Analysis of Blanche Through Text and Symbolism in A Streetcar Named Desire      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Tennessee Williams was once quoted as saying "Symbols are nothing but the natural speech of drama...the purest language of plays" (Adler 30). This is clearly evident in A Streetcar Named Desire, one of Williams's many plays. In analyzing the main character of the story, Blanche DuBois, it is crucial to use both the literal text as well as the symbols of the story to get a complete and thorough understanding of her.    Before one can understand Blanche's character, one must understand the reason why she moved to New Orleans and joined her sister, Stella, and brother-in-law, Stanley. By analyzing the symbolism in the first scene, one can understand what prompted Blanche to move. Her appearance in the first scene "suggests a moth" (Williams 96). In literature, a moth represents the soul. So it is possible to see her entire voyage as the journey of her soul (Quirino 63). Later in the same scene she describes her voyage: "They told me to take a streetcar named Desire, and then transfer to one called Cemeteries and ride six blocks and get off at Elysian Fields" (Quirino 63). Taken literally this does not seem to add much to the story. However, if one investigates Blanche's past, one can truly understand what this quotation symbolizes. Blanche left her home to join her sister, because her life was a miserable wreck in her former place of residence. She admits, at one point in the story, that "after the d eath of Allan (her husband) intimacies with strangers was all I seemed able to fill my empty heart with" (Williams 178). She had sexual relations with anyone who would agree to it. This is the first step in her voyage-"Desire". She ... ...n. Boston: Twayne, 1990. Corrigan, Mary Ann. â€Å"Memory, Dream, and Myth in the Plays of Tennessee Williams.† Dialogue in American Drama. Bloomington: Indiana University Press, 1971. Engle, Paul. "A Locomotive Named Reality," The New Republic, CXXXII (Jan. 24, 1955), 26, 27. Falk, Signi. Tennessee Williams. Grosset & Dunlap, Inc. New York, 1961. Jackson, Esther M. The Broken World of Tennessee Williams.   Madison and Milwaukee: University of Wisconsin, 1965. Quirino, Leonard. â€Å"The Cards Indicate a Voyage on A Streetcar Named Desire.† Modern Critical Interpretations: A Streetcar Named Desire. Ed. Harold Bloom. Philadelphia: Chelsea House, 1988. Vowles, Richard B. "Tennessee Williams: The World of His Imagery," Tulane Drama Review, III (Dec., 1958), 51-56. Williams, Tennessee. A Streetcar Named Desire. New York: Viking Penguin, 1976.

Human resources Research Proposal Essay

Proposed Research Topic: A situational analysis of the role of Human Resource Management programs in developing competency mapping tests, training and development, analyzing quality of work life, and overall employee attitudes. Purposes: In this project I will explore the holes that Human Resource Departments in all scopes of business overlook in determining the best fit for their companies. In particular, I will explore how competency mapping affects department efficiency, recruiting, retention rates, and general employee satisfaction. Such a study should give insight into the workings of Human Resource Departments and open doors to concepts that are too often overlooked or not used in conjunction with other practices. Also, the study will prove the necessity for more extensive candidate study in order to recruit and retain the right jobs for the right employees. Search Terms: * Competency Mapping * Training and Development * Quality of work life * Employee Attitude * Human Resources Management * Human Resources Development Articles: 1. Holland, P. – In Australia, a study group has found that HR departments at various firms are allocating resources towards some of the wrong areas within their employee structure and need to focus them more on recruitment and retention. Skill and labor shortages spurred the initiating of the studies and found that in order for these Australian organizations to compete both domestically and internationally they must allocate the right resources to the right areas. 2. Levi, A. S. – In a quantitative study, reactions of African Americans and Whites were noted to describe the results of Affirmative Action Programs (AAP) within the HR department. Attitudes of AA has been mixed of course, but application to four HR activities including hiring, promotions, training, and layoffs proved differing opinions exist when analyzing both advanced undergraduate and MBA participants reactions. AA has frequently made available controversy in the workplace as unfair to non-beneficiary groups, especially white males, who understandably may resist such practices. 3. Toh, S., Morgeson – In a quantitative study, researchers found that bundling HR practices rather than just individual HR practices made a large impact on effecting employee performance. Since employee performance is a multi-dimensional factor that includes ability and motivation, it only makes sense that aiming strategies at multiple angles would increase response in employees. Based on results found, individual organizations displayed stronger competence and positive results in their respected HR bundle chosen to focus on. 4. Naqvi, F. – Inside every business lays a Human Resource Department that is dedicated to hiring and retaining the most competent employees for any given job opening. The basic premise of competency mapping is finding the right person for the right job, but this is literally just the tip of the iceberg. Just because a candidate displays strong academic records and knowledge does not necessary elicit the best fit for said candidate. Also, personality testing cannot be the sole means of weeding out candidates, as they do not explore the multi-dimensional aspects that will be needed to efficiently and successfully fulfill job expectations and purposes.

The New World During The European Age Of Exploration Essay

The term â€Å"virgin soil epidemic† seems quite self-explanatory; broken down, â€Å"virgin soil† clearly means untouched land, and â€Å"epidemic† is usually a word used to describe something that spreads quickly and affects a large number of people, in this case (and in most other cases), disease. While this term is general and can be applied to nearly any situation that fits the aforementioned criteria, it was coined by Alfred Crosby in reference to the phenomena as it occurred in the western hemisphere of the world; contact between two previously unintroduced groups of people allowed disease to spread due to a lack of immunity in what was considered the â€Å"New World† during the European Age of Exploration. It is considered just a subsection of the Columbian Exchange (a term coined by Alfred Crosby as well), which denotes the exchange of a number of varied items between Europe and the New World after 1492, including infectious diseases like smallpox , chicken pox, the plague, yellow fever, and the flu (Marr, Cathey 2010), but it seems that it could be and vital aspect of understanding how Europe and America existed and developed during the Age of Exploration, how they exist now, and how they interact with the world figuratively and literally. It is firstly important to consider where and when this event, or set of events occurred to grasp their effects on the course of history. 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