External and Internal Influences for ANZ New Zealand

Strategy Hunt
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1 What is the intensity of competition in your industry? What are the major external influences on the organization's strategy? What are the strengths or competencies of this company? What are their internal challenges?
ANZ New Zealand has a significant impact on the daily life of the vast majority of New Zealanders. Many well-known financial institutions in New Zealand are affiliated with the organization, allowing access to a wide range of resources. As a member of the ANZ group of enterprises, ANZ New Zealand also has a global presence. ANZ is presently one of the most profitable and most valuable enterprises in New Zealand (ANZ, 2022). They are aware of the responsibility of their size, and they take it very seriously. ANZ plays a critical role in assisting New Zealanders in accomplishing their financial goals at every level, from people and families to farms and small companies that make up New Zealand's economy. This includes the firm's largest agencies and businesses. Since ANZ offers a diversified product portfolio, the firm can reduce operational risks. ANZ New Zealand operates in the banking industry, and its mission is to establish a world where individuals and communities flourish. This requires creating a balanced, stable society where everyone may participate and improve their lives.
Competition
In competitive markets, banks' actions are influenced by threats of entry and exit. Low entry barriers and simple exits for underperforming businesses make it imperative for banks to perform aggressively, even if the sector is already oversaturated. The banking industry has one of the fiercest rivalries globally. Therefore, the intensity of competition is very high for ANZ. The top competitors for ANZ within the banking industry are Commonwealth Bank, Westpac, and National Australia bank.
External Factors Influencing Strategy
Numerous external factors influence the organization's strategy, including political, social, economic, and legal (PESTEL). ANZ PESTEL analysis is a strategic method for examining the firm's external environment. Changes in the macroenvironmental elements can directly impact not just ANZ but also other participants in the banking industry. The macroenvironmental factors can also affect the Porter Five Forces, which influence planning and the degree of competition. They have the power to impact the profitability of certain banks and the competitiveness of the entire industry.
Political
Political concerns impact ANZ's long-term viability and success. The firm's increased compassion for fluctuations in political contexts of various countries is a result of its global presence. Expanding systematic risks is the cornerstone of political survival in a shifting global corporate climate (Grünig & Morschett, 2017). A country's political climate is comprised of numerous components. For instance, regulatory bodies and issues influence the organization's strategy. ANZ is one of the "Big 4" financial institutions in Australia and, as a result, controls the plurality of the Australian market, making it oligopolistic. Trade agreements enhance trade balance and economic expansion in New Zealand and Austra...