Ideas in management - ANZ Banking Corporation case study Assignment

Ideas in management - ANZ Banking Corporation case study - Assignment Example The business strategy of ANZ is based on three different pillars namely, balancing the growth in the domestic and international front, building super regional capabilities and focusing on customer to gain competitive advantage. The purpose of this paper is to focus on issues of corporate governance and ethics of ANZ bank. The idea is to explore the sustainable ethical and corporate governance practices of banking industry in general and compare them to the practices that have been adopted by ANZ. The issue of corporate governance has become an integral part of governing the success of banks. The importance of banks in the economy is fundamental as banks play the role of allocating resources effectively and propels expansion of almost every sector of the economy. Following healthy corporate governance practices, is important for retaining the trust of the investors and conducting business for banks. The paper first provides a picture of the current corporate governance practices adopted by ANZ and then critically evaluates the same in the light of abuse of ethical issues by the banking sector. ANZ have committed itself to the continuous development of corporate governance practices by embracing a system of continuous disclosure to its key stakeholders. The corporate governance of ANZ is based on adopting the best practices in the banking industry that has been accepted internationally, to be the first mover in case of adopting ethical practices and take a proactive role in formulating best practices of corporate governance. The wide scale of geographic operations of ANZ makes it necessary for it to follow corporate governance standards of multiple nations like Australia, New Zealand and Asian countries (ANZ Bank, 2013). In order to ensure that the business follows ethical business practices, the ANZ board of directors follows a detailed ethics policy framework that covers fraud policy, anti-bribery and anti-corruption policy, policies against employee harassment,

How the Arab spring affects the economy in the countries facing extrem Scholarship Essay

How the Arab spring affects the economy in the countries facing extrem changes Egypt , Yemen , Tunisia , Syria Libya - Scholarship Essay Example hus in Egypt risks related to external financing have shot up significantly, with dwindling direct foreign investment and negativity of net portfolio flows. The resuscitation interventions initiated by the Egyptian Central Bank to rescue the Egyptian pound from the increasing inflation and capital outflows have resulted in shocking decline in net international reserves. Libya, on the other hand, appears to be the worst hit as the escalation of the conflict grounded all the principal economic activities such as oil sales. It has been estimated that total costs in regard to the fiscal balance have been in excess of $6.5 billion. A sharp decrease in oil production, decline in local consumption as well as decrease in buying power have led to decline in the economy (Long-Term Ratings On Egypt Lowered To B On Weaker Sovereign Policy Flexibility; Outlook Negative, 10 February 2012). According to the Arab Spring Economic Report (October 24th, 2011), in Syria the economic situation is expected to be worse as protests are still going on in the face of brutal crackdown. It is expected that the GDP of the country will fall nose dive by two percent as a result of foreign direct investments, decline in tourism, dwindling public investment as well as effects of trade embargos. Looking at the economic situation in Yemen, the picture is not rosy as people living below the poverty index are expected to hit the 15 percent mark. This is due to devaluation of the currency and increase in prices of essential commodities. It is also projected that public expenditure will also drop by about $600 million as a result of weak and poor governance. The Tunisian revolution has also hit the economy of the country very hard as the most important sectors of the economy are barely surviving, thus mining; tourism and fishing are not bringing