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INTERPERSONAL
AND
ECCOMUNICATION
GROUP
ASSIGNMENT
(GROUP 017)
NAME – RISHAB GANDHI

NAME – SACHIN YADAV

NAME – AMARJOT KAUR

NAME - SAMIRA SADIA

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TABLE OF CONTENTS:
 EXECTIVE SUMMARY ----------------------------------------
 INTRODUCION-------------------------------------------------
 KEY COMMUNICATION METHODS AND PRACTICES TTHAT COMPANY
PREVIOUSLY USED TO ENGAGE CUSTOMERS, SUPPLIERS,, STAFF
MEMBERS AND THE
PUBLIC--------------------------------------------------------------------------------------------
-------
 OVERVIEW OF THE CURRENT COMMUNICATION STRATEGIES USED
BY THE COMPANY---------------------------------------------------
 SWOT ANALYSIS---------------------------------------------------------------
 COMPARISON OF CURRENT AND PREVIOUS COMMUNICATION
STARTEGIES .

EXECUTIVE SUMMARY
The ANZ Bank is an organization that was using outdated strategies for
communicating with shareholders, customers and employees. The strategies
included the ANZ Customer Experience Forum, “You Say” as that was an online
customer panel, “My Voice” annually, direct communication as well as appraisal of
formal performance with the line managers, The “Town Hall”, ANZ intranet for the
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employees to provide about the new updates of the organisation and the last
strategy that was adapted by the ANZ Bank was that the company used to engage
the shareholders with the various methods of communication methods such as
organizing AGM. Over the time period, the ANZ Bank adapted the new strategies for
the customers, shareholders and employees. The new strategy that were adapted by
the organization includes the usage of social media for providing the updates and the
different offers, establishing a website for providing the knowledge about the
changes in the organization and at last, using the electronic platform for the effective
communication with the employees and shareholders to build trustworthy
relationship by providing them the relevant details for the better decision making.
The ANZ Bank also adapted the strategy of SWOT analysis. SWOT helps in
identifying the unfavourable and favourable reasons that can affect the external
factors as well as internal factors in achieving the objectives of the organization. It
has four factors that can be favourable and unfavourable for the organization. It
mainly focuses on the advantages of the company, helps in planning the events that
are unforeseen, identifying the problem areas in the organization and also helps in
forecasting the areas that can consist of risk to the company.

INTRODUCTION AND BACKGROUND

The Australia and New Zealand Banking Group limited is commonly called as ANZ
bank . It is an Multinational company if Australia of which headquarter is based in
Melbourne . It is the largest bank if we see by market capitalisation in Australia,
whereas second largest in terms of assets .. It was established on 1 October 1951,
when the Union Bank of Australia merged with Bank of Australasia. It is having total
of 51000 employees with customer count of nine million worldwide .It is one of the
leading Australian banks in the Asia Pacific region .It is having a total revenue of
A$21.071 billion with a net income of A$7.493 billion and total assets of
A$889.9billion ,
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Section 1
Summary of the key communication methods as well as the practices that the
organisation used previously in order to engage its customers, suppliers,
public and staff members
There are many communication methods that the organisation ANZ Bank practices
previously in order to engage its customers, public and its staff members or
employees.
Below are discussions on what methods the ANZ Bank practices for engaging its
customers, staff members or employees, and other public or shareholders.
Customers
The organisation has various methods for communicating with its customers such as
ANZ Customer Experience Forum, “You Say” a customer panel online, Forum of
Stakeholders, Real Time Program for Feedback for Customers, Customer Research,
and Advocate Office for Customers. These are the communication methods that the
organisation has previously used in order to keep its customers engaged with them.
With these methods the organisation was able to help the customers and resolve
their issues or concerns (Anz.com. 2020).
Employees/staff members
For the engagement of the employees with the organisation, ANZ Bank also has
various ways of communication such as survey of employee engagement through
“My Voice” annually, direct communication as well as appraisal of formal
performance with the line managers. There are few more methods like “Town Hall”
team meeting, ANZ intranet to provide the employees about the new updates of the
organisation and the initiatives, and meetings with the Union of Financial Service.
These are the communication methods that the organisation has previously used in
order to keep its employees engaged with them (Anz.com. 2020).
Shareholders/public
The company keeps its shareholders engaged through various communication
methods such as by providing interim as well as full year briefing results, briefings of
the business strategy as well as other market updates, through AGM, documents of
disclosures like presentation of inventors, annual report, and so on. The organisation
has also dedicated ANZ website for the shareholders through which it communicates
with the shareholders. These are the communication methods that the organisation
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has previously used in order to keep its shareholders/public engaged with them
(Anz.com. 2020).
The above mentioned communication methods are practiced by the organisation in
order to keep its potential stakeholders engaged.

Section 2
Overview of the communication strategies that are used by the organization
currently
The organisation ANZ Bank has now upgraded its communication methods and
added some new ways of communication in order to engage its potential
stakeholders such as through upgraded and more advanced websites, social media,
and electronic platforms.
Social media
The organisation has added a new mode of communication that is social media for
its customers. With the help of this strategy the organisation was able to provide
many information to its customers about its different schemes, various offers, and so
on. This communication strategy also helped the shareholders in understanding what
the organisation is offering to grow its business which will eventually be beneficial for
the shareholders. As cited by Schivinski, and Dabrowski (2016), social media
communication leaves a positive impact and influences positively on the brand equity
as well as the brand attitude.
Website
The organisation has also developed its website in order to make the strategies of
communications better which will help to keep their stakeholders engaged. Through
the website the company provides knowledge about the operation of the business.
The shareholders of the company stays up to date about the operations the
organisation is conducting, the employees have updated knowledge about what they
are supposed to learn to adapt new changes and the customers can just look for the
attractive service that the organisation is providing. As classified by Semuel et al.
(2017), communicating through websites is considered as the most effective way of
the marketing process.
Electronic platform
The company has also adopted the electronic platform as their communication
strategies. Through the electronic platforms the organisation are able to
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communicate with the shareholders as well as the employees directly. This helps in
maintaining a strong relation with the stakeholders of the company by providing
every relevant detail to them which will help the shareholders in the process of
decision making. As cited by Navarro‐Millán et al. (2019), engaging the stakeholders
through electronic communication empowers them with various knowledge and
information.

Section 3

Swot analysis of the company’s communication strategy.

The ANZ Bank decided to adapt the SWOT analysis for the effective communication
in the company. SWOT analysis refers to the tool that helps a company to evaluate
factors like weaknesses, threats, strengths and opportunities that are involved in the
organization. It is associated with the company’s objectives and goals.

SWOT helps in identifying the unfavourable and favourable reasons that can affect
the external factors as well as internal factors in achieving the objectives of the
organization. This technique can be used to improve the communication of an
organization effectively by implementing all the factors that are required (Ameer &
Othman, 2018). SWOT analysis depends on the four main factors that include
internal and external factors. It mainly focuses on the advantages of the company,
helps in planning the events that are unforeseen, identifying the problem areas in the
organization and also helps in forecasting the areas that can consist of risk to the
company. The ANZ Bank decided to imply all the four factors of SWOT that is
internal and external -

Internal Factors

Strengths ANZ Bank used their strengths as the biggest power of their
organization that can help in effective communication.
Strengths are the things that make us feel good and help in
order to search for the work that is in our favour. The work in
which anyone is good at should keep on doing for the
advantage of the organization.
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Following are the strengths of the ANZ bank :

1. ANZ is the largest bank in New Zealand

2. As the products are diversified so there is less risk in

business and operations

3.As it is a big company which means there main strength are

the employees which are around 51000 and the customers
around 9 million worldwide .

Weaknesses Weaknesses are those things that are not in the favour of the
organization. A team or a team member should not be doing
the work at which he or she is weak instead they should focus
on the things that are easy for them to achieve and beneficial
as well for the organization. A team or management should
find ways to get rid of those things that are against the
company. Following are the weakness of the ANZ Bank :

1. There is less exposure globally for the ANZ Bank if we

compared it to other major banks .
2. As the competition is strong so it is difficult to increase
market share .

External Factors

Opportunities Opportunities refers to the situation or things that can be

favourable if they can be optimized effectively by capitalizing
and analysing the resources that are needed. Recognition of
opportunities plays an important role (Jap et al., 2017).
Following are the opportunities of the ANZ Bank :

1.It is the first Australian Bank which got licence to proceed

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with retail business in Chinese market in china .

2. High chances for the bank to expand in other Asian countries

like china, India ,Thailand after getting the licence .

Threats Threats are those factors that can harm and hamper the work
of the organization. An organization should identify the threats
and manage the factors while constructing the effective
communication principles. Following are the Threats for the
ANZ Bank :

1. As the economic conditions are getting worse which is a

big threat for the Bank .
2. Fluctuations going in Banking System in Australia
3. Competition increasing from global banks .[ CITATION
mba \l 3081 ]

These four factors helped the ANZ Bank for achieving the effective communication
practices at organization. ANZ Bank recognized the internal factors of SWOT that
are weaknesses and those things that are not in the favour of the organization. A
team member should not be doing the work at which he or she is weak instead they
should focus on the things that are easy for them to achieve and beneficial as well
for the organization (Laing & Dunn 2018). Another internal factor was strengths that
can be used to achieve the things that are favourable and at which the organization
is good at. ANZ Bank also focused on the external factors of SWOT that includes
opportunities as it refers to the situation or things that can be favourable if they can
be optimized effectively by capitalizing and analysing the resources that are needed.
ANZ Bank started analysing the effective opportunities for the communication and
the last factor was threats that can be harmful and can also hamper the ANZ Bank’s
communication practices. An organization should identify the threats and manage
the factors while constructing the effective communication principles. ANZ Bank
analysed and identified the favourable and unfavourable components for the
communication and planned the strategic elements.

Section 4
Comparison of the company’s previous and current communication
strategies.
Previous Communication Strategies of
ANZ Bank
Previously, the organization had various
methods for effective communication with
its customers and that includes ANZ
Customer Experience Forum, “You Say”
as that was an online customer panel,
Forum of Stakeholders, Real Time
Program for Feedback for Customers,
Customer Research, and Advocate Office
for Customers (Carroll, 2018). It helped
the organization to resolve the issues that
were raised by the customers.
The other strategy of the ANZ Bank was
to conduct surveys for the engagement of
employees through “My Voice” annually,
direct communication as well as appraisal
of formal performance with the line
managers (McConnell, 2017). The “Town
Hall”, ANZ intranet for the employees to
provide about the new updates of the
organisation and the initiatives, and
meetings with the Union of Financial
Service were the methods that were also
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Current Communication Strategies of
ANZ Bank
The current strategy for communicating
with customers adopted by the ANZ Bank
is through social media (Kumar et l.,
2018). This strategy helps the
organization in providing the updated
schemes and different kinds of offers. It
also helped the shareholders in better
understanding of the organisation that is
offering to grow its business which will
eventually be beneficial for the
shareholders and will helps in decision
making
The organization decided to establish a
proper website for the customers as well
as stakeholders. Through the website the
company provides knowledge about the
operation of the business (McConnell,
2017). The website is an effective way in
providing the knowledge about the
changes and adaptation in the
organization.
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initiated previously for better

communication.

The last strategy that was adapted by the
ANZ Bank was that the company used to
engage the shareholders with the various
methods of communication methods
including AGM, documents of disclosures employees directly. It also helps in
like presentation of inventors, annual
report, providing interim as well as full
year briefing results, and briefings of the
business strategy as well as other market
updates. The ANZ Bank was also
dedicated to communicating with
shareholders through the website of ANZ.
One of the major current strategies of the
ANZ Bank is the electronic platform that
enables the organization to communicate
with the shareholders as well as the
maintaining the strong and trustworthy
relation between the shareholders by
providing them the relevant details for the
decision making.

REFERENCES

Anz.com. 2020. [online] Available at:

<https://www.anz.com/resources/a/d/ad910911-a4f9-4dc0-a2a4-
ec2584a51a2d/sustainability-review.pdf?MOD=AJPERES> [Accessed 5 June 2020].

Navarro‐Millán, I., Zinski, A., Shurbaji, S., Johnson, B., Fraenkel, L., Willig, J.,
Danila, M.I., Yun, H., Curtis, J.R. and Safford, M.M., 2019. Perspectives of
rheumatoid arthritis patients on electronic communication and patient‐reported
outcome data collection: a qualitative study. Arthritis care & research, 71(1), pp.80-
87.
Schivinski, B. and Dabrowski, D., 2016. The effect of social media communication on
consumer perceptions of brands. Journal of Marketing Communications, 22(2),
pp.189-214.
Semuel, H., Wijaya, S. and Tendean, A., 2017, December. Online Marketing
Communication Model of the Decorative Products in Indonesia through User
Background, Cultural Experience, Website Quality, Intention and Call to Action
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Netizen. In Proceedings of the 2017 International Conference on Information

Technology (pp. 446-450).
Ameer, R., & Othman, R. (2018). Corporate Values and Corporate Social
Responsibility Communication Strategies in a Small Economy. In Accounting
for Sustainability: Asia Pacific Perspectives (pp. 67-100). Springer, Cham.

Laing, G. K., & Dunn, B. F. (2018). Organisational Narcissism: A Review of the

Indicators in the Major Australian Banks. e-Journal of Social & Behavioural
Research in Business, 9(1), 58-75.

Jap, S., Gould, A. N., & Liu, A. H. (2017). Managing mergers: Why people first can
improve brand and IT consolidations. Business Horizons, 60(1), 123-134.

Carroll, T. (2018). 'Frankenwords' creating a communication monster for law

firms. Australasian Law Management Journal, (Feb 2018), 1.

Kumar, M., Mishra, R., & Mishra, K. (2019). Correlates of Financial Literacy:
Strategic Precursor to Financial Inclusion. SCMS Journal of Indian
Management, 16(4), 16-30.

McConnell, P. (2012). The governance of strategic risks in systemically important

banks. Journal of Risk Management in Financial Institutions, 5(2), 128-142.

Anon., n.d. [Online]

Available at: https://en.wikipedia.org/wiki/Australia_and_New_Zealand_Banking_Group

Anon., n.d. mbaskool.com. [Online]

Available at: https://www.mbaskool.com/brandguide/banking-and-financial-services/2103-anz-
bank.html
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