This regional strategy can be further identified as the approach which is followed by the banking group in order to differentiate itself from the peer banking organizations. Therefore, the regional strategy is the tactics employed to gain the competitive edge. The main aim of considering the above strategy is to help growing their profit structure to a significant level. The growth rates in the traditional markets are becoming stagnant. This is the main reason that, the banking group is venturing out in other markets, as mentioned by Fugate, Stank& Mentzer, (2010). However, for the Australian market, the banking group is trying to enhance the level of cross-selling of wealth management. The organization is deliberately trying to grow its financial return in the Australian market. Therefore, for this reason, the ANZ group has acquired 51 percent of the share of ING. The joint venture that took place between the ING and ANZ is one of the most talked about ventures when it comes to big business mergers and acquisitions (Turner, 2014).
The rolling out of the software of Misys Loan IQ is used for organizing the lending processes of the bank on the global floor. This is considered to be another major part of the super- regional strategy of 2013. In the process of formulating the strategy, the ANZ group has delivered the loan management system which is the core commercial in nature. This was considered by the banking group in order to meet with banking requirements by the commercial organizations and institutions for the purpose of the whole sale lending system (Oakland, 2014). This strategy further proved to be effective for the ANZ group, as the strategy enabled them to provided consistent banking assistance to the customers on the global platform. The group is also trying to ensure the significant rate of revenue management. This is considered to be the approach of the organization for mitigating the operational costs of the business and compliance with the regulatory frameworks.
Identification of any associated implementation challenges
In the process of implementing the changes in the organization, it is probable that the team of ANZ would encounter some obvious problems. There are chances that the management might face resistance from employee staffs during the process of using the software (Kerzner, 2013). As this has been a common problem evident from the different business organizations while, implementing changes. While implementing any technical change, most of the employees might not respond to the changes in a positive manner. Therefore, the management of ANZ group needs to educate their employees regarding the use and its outcome of the change.
From another angle, from the following of the regional strategies, the group is trying to enter different markets. Therefore, the ANZ bank is opening more branches in the Asian subcontinents. There are chances that the banking group might face problems while entering the new markets and also during the process of cementing itself in different countries. Moreover, the rate of competitions is really high in the emerging markets. This might make the scenario tougher for the brand to establish in different markets.
From the overall, it can be concluded that the leadership maintained by the ANZ group in following its regional strategies has proved to be effective till now. Such as the use of Misys software solution further proved to be efficient for the organization and managing the corporate lending operations. The use of the software resulted in synchronization of the financial services which are provided on the wholesale as well as during the retail banking services. Moreover, the approach of the organization, focusing on the international ventures is another key strategy. This strategy has been mainly followed so as to differentiate the organization from its peer groups. This has enabled the organization to gain competitive advantage. Further, the organization continues to follow a number of strategies for future developments. The group has undertaken a major step of augmenting the earnings and returns from the vast region of (APEA). In the process, the group might encounter a few problems discussed in the report. Therefore, the following of the set of recommendations would prove to be productive for the organization in achieving the objectives framed for super regional strategy.
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