Bendigo and Adelaide Bank: Values, Visions, and Culture
Discuss About The Ethics Corporate Corporate Responsibility.
This report is to provide visions, culture, ethics and how I can individually fit in the organisation. The company chosen to be discussed is the Bendigo and Adelaide Bank GUIDO et al. (2010). It is a financial institution found in Australia, it operates basically in retail banking. It is a merger company of Bendigo and Adelaide Bank that came to existence in the year 2007 Gamboni v Bendigo and Adelaide Bank Ltd (2013). Terms have been defined in the report and discussion made to provide an insight of the bank.
Purposes, 2017/2018 mission and profit of Bendigo and Adelaide Bank Bendigo and Adelaide’s main aim is to become the most connected bank with its customers in Australia. To attain sustainable income for this organisation, it has to build a good relationship with all of their potential customers Curran (2016. Delivering quality services to their customers will definitely increase profits as this is a profit making institution. This bank is dedicated to building a long lasting relationship with its customers so as to be able to sustain internal and external environment challenges such as competition from similar organisations as the main purpose for this organisation is offering financial services such as banking and loans, its aims to create an environment that can be trusted by and establish trustable customers Levi (2010). The bank is very much motivated by the fact that it wants to help its customers, shareholders, stakeholders and all of its communities to succeed in financial aspects. To reach all these, the bank is determined to meet and even go beyond their customers’ expectations. B&A ensures that their goals go hand in hand with the visions and strategic plans.
Specificexternal environment External environment are things that affect the operations and of a business in one way or another and from outside. Specific environment also known as task environment refers to forces outside the business that directly impacts the organization and any decisions made by managers within the business have a lot of impacts on them Acknowledgement to Reviewers of Vision in (2017, 2018). They have immediate impacts to the business such that they should be well management for any organization to achieve its goals. Task environment vary from one organisation to another and changes according to conditions. As for Bendigo and Adelaide bank, the chosen specific environment is customers and clients. Customers or clients are those people who acquire goods and services from the bank by making payments to acquire them. A customer is the reason as to why this bank exists and any decision made by the bank no matter how slight it could be, the client is affected could be positively or negatively monitoring as a Means of External and Internal Environment Control (2017). For the bank to reach its goals, it must work towards developing a good lasting relationship with its immediate external and specific environment. In business “customer is always right” therefore any decision and changes made should be in the favour of customers and always make sure that their expectations are met. To earn large sums of profit, the organisation should meet the need of customer. Customers of this bank are in need of banking services whereby they expect to keep their money safely, acquire interest and get loans from the bank Kusumawati et al. (2015). Therefore, the main aim of the bank should always to improve the quality of services given to existing customers so as to attract more. The management has to stay so close to customers to understand their needs and know any change in trends, taste and preference. Customers hold the future of this bank, it is through them that the bank will prosper or fall apart. Mishandling of customers means chasing them away and what will the company remain with? To run any activity, the most essential thing required is the presence of customers or clients. In each financial year, this bank releases a report on its performance and states whether it was able to reach their goals or not. The goals for the next year are also set so that the organisation continuously work towards improvement of the organisation each and every year (Grier, 2014). In all the goals, they work towards enabling the customer choice by making the customer come first in everything they do. The main focus is delivering the customer what they want and if this is achieved, it means that all their goals even those not concerning the customer will be achieved because clients are the people who determine the wellbeing of a business firm. To establish a proper contact with customer, this bank has more than five hundred outlets within Australia. All of the work with efforts to please their customers maintain and get new customers. Customers have access to banking and phone support 24 hour in 7 days of the week. This means that at no point does a customer fail to get immediate services. There are also mobile managers who enable the company to reach its customers and develop personal relationships even with those clients who are in remote areas Tidström (2012). The company has continuously invested in the technology so as to improve their services to customers and make sure that they help customers reach their financial goals. Having the vision of being Australia’s most customer connected bank; the bank has done all it takes to maintain a good reputation among customers and the communities they operate under.
Sustainable Income and Customer Relationships
Ethics are moral principles that control and determine the way a business conducts its activities and relate with others, both internal and its external environments Trong Tuan (2012). Due to the changing business environment, there is need to make sure that businesses have good interrelation and interactions, this is can be achieved by establishing business ethics and corporate responsibility. Ethics produce an action to avoid creating harm to others even when the organisation or firm has an opportunity to do so for their own benefits. Corporate social responsibility in other terms can be called corporate sustainability. CSR is an internal policy set by the company for self-regulation. It is strategy put up by a company as one of the plans put in place to achieve goals. It is the choice of an organisation to follow laws or break them of which following such regulations will keep the bank at a safer side unlike breaking laws which put the bank at a risk. Bendigo and Adelaide bank has always maintained a good reputation by the way it treats all of the stakeholders with respect and utmost care Parmar (2011)
. There are codes of conduct in the organisation that guide employees on how to behave to maintain a standard understanding among all staff and directors. Workers at the bank are discouraged to cheat the organization in any way; an employee should always be truthful in all matters so that they maintain a healthy relationship with the employer. Take for example, an employee can cheat that he or she is going out to market the bank or help a client with some issues when in real sense, he or she is going out for personal businesses in the name of job duty. As much as the employee has a chance to, the ethics prevent them from doing such to be on the right side of the company’s rules and regulation. Respect for one another is paramount, employees respect their seniors and juniors as well as respecting all the clients no matter how wrong the client could be, workers in the bank are expected to respect them at all cost. All clients are treated fairly and equally, there should be no incidence where a client is given less attention for reasons best known to the worker in the bank Kulshrestha and Padiya (2011). Even if the client is not as frequent as the others, he or she should be served like all other clients. An employee is not supposed to favour any client be it a relative or a friend, all customers are equal and protected from bias. Clients should also be told the truth about the kind of services offered to avoid over expectation from customers which may end up making the bank lose its clients. Employees should not take bribes at any point. Taking credits for what another employee did is wrong, such behaviours makes people lose morale and develop attitudes towards each other which will break teamwork and without team work, there is no way this bank is going to attain its goals. Bendigo Adelaide bank takes responsibility to protect the environment by carrying out activities that are environment friendly and favourable to human health. It protects its workers from risky activities that may expose them to danger and insecurity Zhao, Chen and Xiong (2016). Employees also have insurance cover to cater for anything that may happen to them in the course of duty.
Maintaining a Good Reputation
Culture refers to the style of carrying out activities in an organisation or a firm Boyle (2011). Adopting a certain culture aims at getting the company to its goals. Culture includes all the ethics, code of conduct and common practices within an organisation. Culture shows the accepted behaviour in the firm by the employees and directors. Different firms have their own beliefs, values and activities. It has a great impact on the strategies of a business, influences the decision making of the management and all business functions from accounting to production. There are different cultural practices at Bendigo and Adelaide bank that are followed and have been made a habit so as to achieve the strategic goals of the business. In business culture, those who it applies to most are the employees. Teamwork is a culture that has always been among the employees. This is an important aspect because when people work as one and with unity, the strength goes higher and results produced at the end are wonderful Cell culture model of Dyskeratosis congenital (2011). Integrity is what makes the bank going, the company builds trust culture whereby all activities carried out in the bank and services offered to their customers are fair open and trustworthy, honesty is the primary habit of the bank. To achieve the visions, employees are encouraged to adopt a cultural practice of working towards the best performance. The company is always focused with a lot of passion; workers within this bank are very passionate in their fields of duty. The bank has a culture of providing frequent training of employees to keep them updated and motivating them by recognizing their efforts in work. Personally, I need an organisational culture that can provide as suitable environment for good performance. As much as I can adapt to any environment, I work best at favourable conditions and I can be able to make habits that are meant to provide the best result and lead to the achieving of strategic goals Tombs and mccoll-Kennedy (2013). A good culture is that one which workers are encouraged to work as a team, frequent training to make me acquire the latest skills in the industry and be able to compete effectively with other workerFitting in this organisational culture will not be a problem to me due to the art of flexibility and adoption encrypted in me. I embrace teamwork as I know that it is the secret to having easy time in the place of work. I know how to relate with people from different backgrounds. In everything I do, I am a passionate person who loves my job, what makes me happy and fulfilled is the fact that I know that at the end of the day, I will have done the best I can in my line of duty (Executive summary of “Customers helping customers: payoffs for linking customers”, 2014). Motivation makes me work better and gives me the strength to keep going, the culture of recognizing effort by this banking institution is good as it will always keep me on toes. Am always ready to learn new things and improve my skills day in day out therefore, I will be glad to receive frequent training by the organization.
Corporate Social Responsibility and Ethical Behavior in the Workplace
Conclusion
In conclusion, the bank has been able to maintain a good name due to the practices, ethics and etiquette of the employees and respectful handling of the stakeholders Sharma and Rawani (2010). The findings in this report show the vision and plans for the company in the 2017/2018 financial year, the cultures practiced in the institution and how much customers who happen to be the specific external environment are handled G. Black, H. Vincent and J. Skinner (2014).The result shows that Bendigo and Adelaide bank value its customers and always work to see their customers prosper in terms of finance Fernandes and Remelhe (2015)
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