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Essay on

Globlisation

Globalisation refers to a complete process of communication and interaction among business


person of different nations, governments and companies of different countries. The blessing of
Globalisation include greater understanding of comprehending different cultures, environment,
divergent political systems, economic system of various courtiers and human being implications
in divergent business fields throughout the world.
In this essay, the primary focus will be to examine the managerial implications for such
organisations which work beyond boarder limits of countries. After this, the key element
regarding Australian New Zealand management and their policies are discussed with reference to
across boarder policies, culture and how ANZ tackling the international workforce for better
productivity and higher achievements. In the last part of essay, an effort is made to put focus
upon ANZs policies which they have designed to address the local responsibilities of
conducting trade in host country which covers the transactional corporate customers. This essay
will also state the relationship to ANZ bank and how they conduct business internationally. At
the end of essay, the business policies of ANZ are discussed, how it manages its small and
medium level customers and business segments in banking sector.
The business of ANZ is expanded to almost 32 countries of the world including Australia, New
Zealand, Asia and Pacific regions; it also covers some countries of Middle East, Europe and
America. ANZs business is almost two centuries old and its basic purpose to develop long
lasting relationships and partnerships with customers, stakeholders and facilitate customers via
providing banking facilitations. This business covers almost 8 million customers and having
more than 48000 employees throughout the world (shareholder.anz.com, 2012).
The borderless organisations are those which operate their businesses throughout world without
considering the border barriers and issues pertaining to different countries. The examples of such
companies are Microsoft, Dell, McDonalds, IMF and World Bank etc. such organisations have
to respond more specifically the issues pertaining to host countrys issues. The borderless
organisations have to face artificial geographic borders which dont possess the separate
functions or specific divisions or relevant activities. The managerial implications of such
organisations are sophisticated to tough job to control (Krishnan, 2009).

Some famous

international financial institutions are Asian development bank, European Union, International
Bank for Reconstruction and Development, Nordic Investment Bank and Islamic Development
Bank. The business and risk managers of borderless organisations needs to be proactive and
require to plan, identify the divergent policies of different countries which are connected with
international trade, ensuring a comprehensive monitoring system, continuously taking feedback
and designing and integrated management system for proper implication of international trade
(Passaris, 2006). Borderless organisations required to focus upon following issues pertaining to
managing implications for international trade:
Developing international policies
Clearly Communicating the Vision to across boarder employees
Empowering Employees in host countries
Timely evaluating the progress in divergent countries
The managerial implication of ANZ is also divergent in its nature and aim to become a superregional bank with focusing on growth specifically in Australia and in New Zealand. The ANZs
global strategy for managerial implication is to get highest regional connectivity, getting a
reputation in financial service market and focusing to get balanced exposure as compare to
Asias general growth. The managerial implication of ANZ is also to get technological advanced
operational hubs, introducing brands which are globally recognized and developing leading
product capability. The organisations operating their business in different countries need to
formulate their policies according to host countries policies and as per subcontracting agreement.
Consideration to multinational sites, cross culture approach, and managing across boarder
workforce is mandatory.
The ANZ managers need to get familiarity with latest approach to legal and political aspects,
economic conditions, cultural and environmental issues of Australian and New Zealand
Countries. If any organisation like ANZ is borderless, it has to face challenging conditions
especially with reference to culture of region which varies from country to country and from
nation to nation.
ANZ has adopted the internal policy of management for provision of trainings to employees for
getting understanding to legal-political and economic differences that has to face in different

countries. These dimensions get major consideration for the purpose of conducting business in
abroad. This can be further elaborated with the example of legal and political difference in some
country will have a significance influence upon terms associated to contracts and conditions of
running businesses. The ANZ has also designed polices to meet the challenges of fluctuating
currency rates, economic conditions and its stability of any country. Generally speaking, the
international business has vastly get benefits owing to blessing of Globalisation but yet it has to
suffer lots of problems for its operations at international levels which are discussed in brief in
following lines:
The divergent cultural and linguistic problems is a major hurdle in Globalisation as the
difference in culture, basic norms, values and beliefs of employees led to managerial
implications for HR mangers(Herman, 2002). The cross cultural and linguistic issues are
considered as the hot topics of Globalisation especially with reference to Asia pacific. The
workforce diversity in Australia and in ANZ is also a burning question which led to managerial
difficulties by HR managers. The employees belong to different religions and their areas of
interest are also divergent so managing workforce diversity is a typical task.
There is also dire need of understanding of local languages for Globalisation which is becoming
a major issue for advanced countries to conduct their business activities in under developed
countries.
The other factor pertaining to Globalisation is problem associated with workers interest. The
workers in advanced country are anxious for getting low wage rate. The other issue pertaining to
employees is employers focus upon shifting more skilled and talented employees. The
multinational companies do not focus on employees satisfaction but just focus upon more profit
and increased level of sales (Greasley, Watson, & Patel, 2009). As the Globalisation is wide
spreading, the employees are feeling themselves less secure because the employees are not
treated as human rather any other source to be managed by managers of multinational
companies. The intensive use of machinery and latest equipment due to Globalisation also reduce
the need for employees and their importance.

There are number of economists who feel hesitation for accepting the reality that liberlisation
and globalisation led to high level of unemployment. The WTO argues that globalisation lead to
high level of unemployment in service sector (WTO, 2001).
Globalisation is also source to unequal distribution of incomes in Australia. The distinction in
inequality of incomes is increasing in first world and third world countries. A commonly cited
objection to globalisation concerns its perceived adverse impact on global Income inequality.
The per capita income of advanced countries is 58 times more than poor countries.
There is dissatisfaction in workers of Australian banking sector owing to wide application of
globalisation all over the world. The reason is hiring of cheaper workers and availability of
highly skilled workers throughout world. The labour issues in Australian market are rising with
passage of time and unemployment is slightly rising. The intensive use of technological tools in
business activities led to some complications for business managers, the example of
complication is dependency upon ease of access to information by business managers and
business persons have become more impatient, try to get immediate response and feedback
without any authentication. (Patil, 2014).
Owing to Globalisation and technological advancement, the chances of hacking data and stealing
some precious strategies and ideas of companies are more common. Some business managers
also try to get competitors important information via unethical practices. Sometimes the legal
issues arise for hacking data, the aggrieved party make suit and other company has to face
claims. (Ekmekcioglu, 2012). The other dilemma associated with technological advancement is
base to unemployment. The latest machinery and plants can do work of dozens of employees
with ease and less cost. The workers raised their fears for getting unemployed for massive
application of technological advancement in business. Despite of the reality that technological
advancement led to fast source of communications, a rapid source of accessing people and
making business transactions in no time but yet voices are against it especially in
underdeveloped countries (Belcher, 2014). No doubt the technological advancement has enabled
the banking system to online their all transactions and create secret codes for every customers
but yet there is fear of hacking secret codes by cybercrimes experts. If once the secret
information hacked or steals by hackers, it become difficult for financial institutions to address
such issues and find solution to that.

Further to state he realities regarding Australians financial institutes is argument of Australian


Financial Markets Association which says that Australias financial institutes are failed to fully
utilize their strength during the financial crises of globalisation in 1997. According to this
financial institutes argument, the Australian financial institutes need further stress to get
advantage of their opportunity for financial services which are also presented by Asian countries
in recent era (MOSHIRIAN, 2014).
The Global Financial centre Index presented the sever condition of Sydney and Australian
country in 2007 to date. This countrys ranking was 9 to 16 in financial crises index. This
condition was owing to severe competition in Hong Kong and Singapore. The internal
management of ANZ is typically focusing the above mentioned issues in precise way and they
are quite successful in their approach. There positive response to such problem can be measured
with the help of successes their business got in international trading activities especially in
financial sector of Pacific region, Asian countries and Africa countries (Ogunsola, 2005).
The better response of ANZs managers to these issues of Globalisation led to ANZs economic
contribution is much valuable as compare to their profits. ANZ has enabled society to get jobs,
get better salaries, enabled government to collect huge taxes from their business and it has
provided the need based products to consumers. The business managers has also customer
oriented via putting focus on customer needs, their businesses, and focusing upon customers
trade and tendency of investment on products (shareholder.anz.com, 2012). The policy makers of
Australia are trying their level best to enable the financial institutes that they are part of global
economy which definitely means that they have to accept the new realities of globalisation. Now
the Australia has accepted the new changes pertaining to globalisation and embracing the
economic changes throughout country (Government of Australia, 2002).
Now we discuss the approach of ANZ and other banking institutes in Australia how they manage
their banking system and financial proceedings. The business of ANZ is growing via providing
facilitation to small and medium level business customers. The other banking institutions and
financial intermediaries try to focus on business growth program via designing teams which can
properly lead, manage and execute their relevant businesses. The ANZ banking system has also
initiated a program that is led by an international expert for the purpose of entrepreneurial
leadership and growth of business and the other purpose of this expert is to avail the

opportunities regarding targeting small and average level businesses for growth potential. The
ANZ has planned to conduct a session of coaching in this month to forty participants for the
purpose of customized clinics (unisa.edu.au, 2014).
As globalisation demands emerging trends in business affairs, the banking system of Australia
and ANZ setting centers for the purpose business growth which offer to divergent financial
businesses the major opportunity to coordination to their staff, customers and associated
stakeholders. The ANZ has offered customized program for business growth which includes
clinics of one day program, some growth modules and coaching and face to face mentoring to
employees and customers for the purpose of business growth and excel. These programs are held
in major cities of Australia by executive management of ANZ and generated more than $5
million addition in sales.
The assessment clinics are designed to get some objectives for growth of business via reviewing
the results of collected information, getting aware that which factors are associated with business
growth and which factors become the cause of stoppage of growth, discussing recommendations
and making alteration if required in leadership style, systems operational activities and in SOPs,
coaching and learning new aspects of skills mandatory to take to business to next growing step
and collectively working to make an action plan for addressing issues. The ANZ has adopted the
process of growth modules which contains three days program of presentation which is presented
by experts. This program is designed to discuss and facilitate group harmony and mutual
discussions for growth issues. The Growth Module is explored to participants after completion of
assessment clinic session (unisa.edu.au, 2014).
At the end, in nutshell, we can say that Globalisation is wide spread phenomena and it is
increasing with passage of time. The managerial implication to Globalisation is mandatory to
meet the international challenges. The managerial implication of borderless organisation do not
limit their operations on the basis of physical boarders of countries, such organisations focus
upon innovative international policies, sharing vision of company to other countries employees
in clear and precise way and empowering them with decentralization approach. There are some
key issues which are facing by Australian banking system and ANZ owing to globalisation
which include harmful to employees, technological advancement and issues pertaining to it and
so on. The ANZ has also adopted managerial implications for addressing Globalisation issues.

On the other hand, the internal management of ANZ has adopted some session for the purpose of
business growth via seminars, one day clinics sessions and growth modules for participants.
Globalisation is widely beneficial for business activities and it is considered as blessing for
international trade but on other hand, some issues pertains to Globalisation which are cultural,
linguistics, technological advancement and employees related issues. If the managers of any
company respond to these issues with care and proper concentration, they will be able to avoid
up to maximum limit as the managers of ANZ is practicing.

References
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