Discuss about the leadership of ANZ.
Change is inevitable in any organization that has the desire of meeting its goals. The leadership of a company has the responsibility of making sure that there are strategies which are in place and they are aimed at making sure that the desired goals of a company at attained. McFarlane was the ANZ CEO who left a legacy that brought a change to a bank to a bank that had gone through different challenges. The changes that the CEO brought to the company came with determination and having the desire to transform the company. Looking at the changes that were ushered in by McFarlane, there is one aspect that stands out, and that is the aspect of dealing with the change from a wide perspective.
The CEO did not just look at one aspect or department in ANZ, but he looked at the issues that were ailing the company in different perspectives. He made sure that the operations of the company were efficient. By promoting the internal efficiency, he concentrated on the culture and the management of the company. He looked at the well-being of the customers, and by doing so, he initiated programs that were educative and of help to the customers. He looked into the reputation of the company, and by doing so, he initiated corporate social responsibility programs. McFarlane also looked into how the reputation of the company could be redeemed, and in this respect, he made sure that the company was involved in the activities of conserving the environment and the representation of gender in the company workforce was taken to a higher level than ever before.
During the tenure of McFarlane, there were many transformations that were made at an organisational level. The transformations were aimed at taking the company to a higher and better level of success. The main features of the organisational transformation were;
Customer satisfaction
McFarlane established the adult financial literacy program. The program was aimed at helping the low-income earners in Australia to develop saving skills which would guide them to financial freedom. The program helped more than 30,000 customers in New Zealand and Australia. The move to help customers manage their finances was a move that went a long way in enhancing customer satisfaction (Graetz et al. 2006). It is not likely for many banks to initiate free programs that help the customers to manage their finances. Therefore, when a company comes up with a free and beneficial program, it motivates the customers to invest because it has shown their interest.
Organisation’s image
Corporate Social Responsibility is one of the aspects of the modern world that helps organisations to win the hearts of the customers. As far as corporate social responsibility is concerned, McFarlane was on the front line in helping the company to be engaged in activities and programs that helped in the conservation of the environment. As a result, the company was recognised by the United Nations as well as the world. When the reputation of a company is positively affected, the company is in the best position to attract the customers because the same customers who seek the services of the company consist of the customers who have a higher regard for organisations that promote the well-being of the universe (Iles and Sutherland, 2001).
Re-evaluation of the management
McFarlane realised that there were managers who were up to the organisational tasks. As a result, he re-evaluated the management with the aim of making sure that only the qualified managers were given a chance to manage the affairs of the company (Cao et al. 2000). The move was followed by a staff program that was supposed to empower the managers. The initiative led to the transformation of the company because only the competitive and suitable managers were left to serve in the company (Sullivan et al. 2001).
Staff satisfaction
McFarlane touched the aspect of staff satisfaction in two different ways. The first way was by revising the culture of the company. The culture of a company guides the employees and the management. Therefore, when it is revised in a way that it brings harmony between the stakeholders, it goes a long way in satisfying the employees. The initiation of programs that targeted the employees was also another way McFarlane helped to satisfy the needs of the employees (Morrell et al. 2004). When a company takes a step to train its employees on how to be effective, the employees see the value that the company has for them, and they are motivated to be committed to the operations of the company.
Gender balance
When McFarlane took over the leadership of ANZ, it was apparent that most of the organisational positions were dominated by the males. Therefore, the representation of the genders in the company was an issue that needed serious attention. McFarlane made sure that more women were accommodated in the leadership of the company and the move had two positive effects. The first effect was boosting the morale of the female employees in the company (Todnem By, 2005). When a specific gender is recognized and given a chance to serve at a higher rank, the junior employees are motivated to work harder to reach the higher positions. The second effect is associated with the image of the company. The society is keen on the way the organisations treat their employees (Van Tonder, 2004). When an organisation proves that it can treat the employees well and equally, it is respected by the society as well as other organisations.
Staff balancing
When it came to the aspect of staff balancing, the CEO realised the need to make sure that there is no wider gap between the senior and the junior employees. As a result, the percentage representation of the employees was restructured. Twenty percent of the employees served at the management level, seventy percent at the middle level, and only ten percent were at the bottom level (Seel, 2000). The initiative saw a balance in the representation of the employees, and that is something that created a positive image of the CEO before the eyes of the employees. As a result, the morale of the employees was boosted thus motivating them to work harder to attain the goals of the company.
Implementing transformational strategies which are similar to those implemented by McFarlane is not a simple task. There are challenges that the managers or the leaders with interest to implement the strategies face. Employee engagement is one of the challenges that managers are likely to face. When implementing strategies, it is imperative to note that the strategies might be drafted and revised at the higher level and by the management (Collins, 2005). However, when it comes to the implementation of the strategies, the employees are the people who are entrusted with the responsibility of making sure that the strategies are implemented. Therefore, when the employees refuse to take part in the implementation process of the strategies, the managers are faced with the hard task of making sure that they implement the strategies.
Considering the critical role that the junior employees play in an organisation, they must be engaged in the process of implementing the strategies (Van Dam et al. 2008). A good example can be taken from the case of ANZ Company. McFarlane was a single person who came with the zeal and the interest to change the company for the better. It is evident that most of the strategies he came up with would not be effective if the employees did not support him. However, due to the support that he received from the employees, it was easy for the changes to be implemented (Piva et al. 2005). One of the biggest challenges that many managers face is lack of employees’ engagement. As a result, they end up having no teams to help them implement the strategies that they have in place.
Status quo
Status quo can be a force from any stakeholder in a company. Most large corporations are run by CEOs and managers, but the decisions must be made with the inclusion of the board members. A manager cannot implement strategies alone because he or she needs support from all other stakeholders (Diefenbach, 2007). However, the stakeholders might have different thoughts considering the changes that are being made. There are two reasons which motivate status quo. The first reason is associated with the concept of ‘comfort zone.’ Many organisations are used to dealing with matters in different ways, and the stakeholders believe that the best ways are those ways which they are used to (Elving, 2005). When a leader is given the highest position in an organisation, he or she ought to make changes that will have a positive change in the company. However, the leader might face opposing forces from other leaders. In the case of a manager, it is imperative to note that a manager uses the supervisors to reach the junior employees and therefore the commitment from the supervisors comes in handy (Greenan, 2003). When the supervisors think or believe the traditional way is the best to run the company, they block the implementation of the new strategies from the new manager. As a result, the manager is left with no people who are supposed to support his agenda.
The management can also hold on to a status quo because it is afraid that the new manager might expose dirty work or the previous management or make the management that preceded him look bad before the eyes of the employees and other stakeholders (Eason, 2014). The fear leads them to take a back seat when it comes to the process of implementing the strategies. As a result, the managers lack the support of the subordinates, and that paralyses their effort to implement strategies that are supposed to bring transformation to the company (Burn and Robins, 2003).
Availability of resources
Resources play a significant role in the process of implementing strategies. Resources range from the intellectual resources to the costs that come along with the implementation process. The intellectual resources include the availability of the best procedures for implementing the strategies. A manager might have a strategy in place that might transform the organisation but lack the right procedures to attain the desired goals (Bovey and Hede, 2001). The second resource is the human resource. The input of the employees in any given organisation is crucial for the company. Change cannot be implemented unless there are people who are involved in the implementation process.
The people or rather employees involved in the process of implementation must be equipped with knowledge that is paramount to the success of the strategies. Some managers face the challenge of having the most suitable employees and this derails or cripples their plans to transform an organisation. Costs also come along with organisational transformations (Bennett and Durkin, 2000). A good example can be seen in the case of ANZ Company. When McFarlane took the leadership, he initiated two types of programs; customer empowerment programs and staff empowerment programs. The two types of programs did not need financial contributions from the beneficiaries. Therefore, it meant that the company took full responsibility for the costs that were incurred in the process of educating and empowering the employees and the customers (Bennett and Durkin, 2000). With this in mind, it is apparent that if there are no finances in place, a manager might be faced with the challenge of implementing the strategies.
Selection of the most suitable strategies
Having the suitable strategies in place is also a consideration when it comes to initiating positive change in an organisation. It is imperative to note that not all strategies help in solving the problems that organisations may be facing. A manager must be in the best place to identify the most suitable strategies. Lack of the most suitable strategies has an effect on the implementation process (Adams and McNicholas, 2007). Unrealistic strategies might be impossible to implement, and this is one of the challenges that face the managers when they want to implement the changes. The managers are eager to implement change, but they do not have the right strategies to implement.
Attributes of key leaders at ANZ and the role of leadership
The key leaders that will be focused on are John McFarlane and Michael Smith. The two are significant leaders who have been involved in shaping ANZ into the organisation that it is today. Different examples that demonstrate their attribute to the company will be used to show the roles that leaders play when it comes to directing, influencing and managing changes at ANZ. McFarlane was the leader who came before Michael Smith, and there are numerous examples that can be picked to show the roles that he played in making sure that change was implemented at ANZ.
When it comes to the aspect of influence, a good example can be seen in the case of the 1990s where there was a bad reputation that was affecting the entire banking sector. As a result, many banks closed, and some of them went ahead to raise their fees. McFarlane frozen the closure of branches and that was a big step that brought a positive change in a sector where the good reputation of the players was being eroded. Therefore, it is evident that McFarlane influenced a change that was not in place before he came to the industry. When the adoption of the new organisational culture came into place, McFarlane managed the change until his retirement. When it comes to the role of directing change, McFarlane played a significant role in making sure that the entire organisation was guided by his strategies. When Smith took the leadership after McFarlane, he changed the culture of the company and the company advanced in different ways. This was an indication that leaders have a significant role when it comes to influencing, directing and managing change in any given organisation (Zuber-Skerritt, 2003)
References
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Bennett, H. and Durkin, M., 2000. The effects of organisational change on employee psychological attachment An exploratory study. Journal of Managerial Psychology, 15(2), pp.126-146.
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