Corporate governance for westpac Assignment Example | Topics and Well Written Essays - 1000 words

Corporate governance for westpac - Assignment Example In addition, it has profound implications at all the levels of an organization (Hill and Jones 27). Significantly, the document reveals that numerous scholars argue that strategic planning provides a mere and perhaps less relevant understanding of strategic decision making, thus, the increasing adaptive strategy. In response, this document provides a comprehensive critique to the existing literature against the perception of emerging trends as well as the pressures in the contemporary business world. Therefore, it has referred numerous sustainability competencies that suggest the need of capable consideration of holistic and systemic pressures predicting future scenarios and considering how numerous stakeholders would perceive normative business practices. The sources have revealed that the Westpac group ranks among the top listed financial companies on the Australian Securities Exchange (ASE): in September 2010 Westpac’s market capitalization realized E.5 billion (AUD). Addit ionally, it has five key diverse customers; significantly, it serves approximately, 12.8 million customers ranging from institutional, business and retail banking, wealth management, and insurance. For instance, there is the Westpac Institutional Bank (WIB), Westpac Retail and Business Banking (WRBB), and BT Financial Group (BTFG). The sources have further identified that sustainability plays a central position in Westpac’s vision. The vision states that the Westpac has become one of the largest firms in assisting consumers, communities and prosperous people. Significantly, the company recognizes the links between healthy societies and sustainable businesses. Accordingly, Westpac has managed its direct as well as indirect environmental impacts. It has put appropriate strategies of dealing with the critical issue, such as climate change. Significantly, the company has recognized that climatic change influences profoundly on economic, social, and environmental aspects in their operating regions. Consequently, the Westpac has considered such issues before embarking on their investments, lending, and operational decisions. Additionally, the company has