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1 BUSN20016 RESEARCH IN BUSINESS, T2, 2017 ASSESSMENT 3 Project Title: Comparative analysis on impact of adopting design thinking on four chosen Australian banks NAME OF THE STUDENT: Student ID:...

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BUSN20016 RESEARCH IN BUSINESS, T2, 2017
ASSESSMENT 3
Project Title: Comparative analysis on impact of adopting design
thinking on four chosen Australian banks
NAME OF THE STUDENT:
Student ID:
Tutor’s name:
Campus:
ASSESSMENT SHEET
Criteria Total
marks
Marks
obtained
Overall comments
A statement of the problem, research aim, objectives
and research questions
10
Justification and potential output of the research 10
Conceptual framework 10
Methodology, organisation of the study, project
udget and schedule
10
Accurate referencing, use of co
ect English and
logical sequences between
sentences and paragraphs and a good introduction
10
Total = 50
Mark reduction for Turnitin similarity (It's up to the
markers and unit coordinator's judgement)
Mark reduction for late submission(5% mark
eduction for each day of late submission)
Grand Total= 50
Key to grading and co
esponding marking scale:
HD (42.5 and above out of 50 marks): Student demonstrates outstanding understanding and interpretation
of all aspects of the criteria.
D XXXXXXXXXXto 42.24 out of 50 marks): Student demonstrates excellence in understanding and interpretation of
almost all aspects of the criteria with some minor co
ections or additions needed.
C XXXXXXXXXXto 37.24 marks out of 50 marks): Student demonstrates very good understanding and
interpretation of most aspects of the criteria with some need for additional work, additions or improvement.
P (24.75% to 32.24% marks): Student demonstrates good understanding and interpretation of the criteria to
wa
ant the award of a Pass but requires considerable additional work, additions or improvement.
F (below 24.7%): Student demonstrates an unsatisfactory understanding and interpretation of the criteria and
equires major additional work, additions or improvement to achieve a passing grade.
(Month), (Year)
2

Table of Contents
1.0. Introduction .................................................................................................................. XXXXXXXXXX3
2.0. Problem statement ............................................................................................................ XXXXXXXXXX3
3.0. Aim and objectives
esearch questions ........................................................................... XXXXXXXXXX3
4.0. Justification and potential output of the research ......................................................... XXXXXXXXXX4
5.0. Conceptual framework and hypothesis development .................................................... XXXXXXXXXX4
5.1. Design thinking definition and use ............................................................................. XXXXXXXXXX4
5.2. Impact of design thinking ........................................................................................... XXXXXXXXXX4
5.3. Design thinking in the banking sector ......................................................................... XXXXXXXXXX5
5.4. Hypothesis development ............................................................................................. XXXXXXXXXX5
6.0. Methodology ...................................................................................................................... XXXXXXXXXX6
6.1. Research Approach and sources of data ......................................................................... XXXXXXXXXX6
6.2. Proposed data collection and analysis techniques ........................................................... XXXXXXXXXX6
6.3 Organisation of the study ................................................................................................. XXXXXXXXXX6
6.4. Budget, Project Activities and Gantt chart ...................................................................... XXXXXXXXXX7
7. References ..........................................................................
Answered Same Day May 31, 2021 BUSN20016 Central Queensland University

Solution

Tanmoy answered on Jun 02 2021
143 Votes
BUSN20016 RESEARCH IN BUSINESS, T2, 2017
ASSESSMENT 3
Topic: Impact of Corporate Social Responsibility (CSR) on customer satisfaction – A study in relation with ANZ Bank in Australia
ANZ Bank in Australia is founded in 1951 and began its operations in Australia and New Zealand as banking and financial institution with it’s headquartering in Melbourne, Australia. The ANZ Bank was formed as a result of merging of the Bank of Australasia and the Union Bank of Australia Limited. It is one of the big four banks in Australia. It is second largest bank in terms of its assets and third largest in terms of market capitalization in Australia. It mainly operates in retail and commercial banking segments in Australia and New Zealand.
The approach of ANZ Bank towards corporate social responsibility is by meeting the expectations of the customers and the various stakeholders which will add value to them. ANZ focuses on hiring highly experienced and stimulated employees who are capable enough to handle the complex business objectives of the clients for progress and growth of the organization. The various approaches to attain these objectives are through financing in agribusiness. ANZ Bank has addressed into clients business’s social and environmental issues. The approach was a study of the environment and the society before and after funding. It was found that the business needs huge quantities of water and hence ANZ Bank adopted a Water Sensitive Sector policy which focuses on the model of water governance to decide on the financing. Decisions were made in collaboration with the clients, water management engineers and experts and other stakeholders. Finally the plan was approved and the customers have reported on the benefits of inclusion of stakeholders.
Another CSR approach of ANZ Bank towards its customer was through its Customer Connect service. Here the already existing customers who are maintain accounts with ANZ Banks but due to family problems and income constraints they are unable to repay their credit card instalments and mortgages. The Customer Connect service will find some way so that the customers are able to repay its credit card instalments and mortgages. This may be through reducing the instalment amount till the family income level is restored.
Various staff training programs have been designed by ANZ Bank to make them accustomed with the environmental and the social impacts on how the clients of ANZ Bank operate. A special training known as Equator Principles is being conveyed to the employees on how to handle the social and environmental issues in financing a project and how to mitigate those issues through due diligence and in collaboration with the clients, advisors and various stakeholders.
ANZ Bank in response to the CSR has developed a strong channel of senior female leadership which will help them to serve the customers with high efficiency and gain critical experiences about banking roles and development processes which will act as a pathway for their career in future. Also, ANZ Bank employees people with disability and from refugee and indigenous communities for their societal upliftment.
ANZ Bank has also deployed Indigenous Employment Program (training on banking operations) to provide opportunity for the young generation to make banking as a career option in future. This program is delivered to high school passouts to take banking and finance as a career choice during their graduations.
ANZ bank have also started a financial inclusion program to develop the financial and money skills and inculcate the habit of savings among the lower income adults of the communities across Australia, New Zealand and Asian countries. This program is known as Money Minded. This is a program aimed at the students who earns but doesn’t know where and how to save their money for their future development. In the last three years this program was delivered to more than 4000 people in Asia Pacific regions. (ANZ; ANZ Corporate Responsibility Report; Interim Report 2013, By Toby Kent, Head of ANZ Corporate Sustainability)
Project Title: Comparative Analysis on impact of adopting design thinking on four chosen Australian banks    
Statement of the Problem
Design thinking in banks does not mean designing the banks with a corporate appearance. It simply means developing and incorporating an in-depth understanding of the customers for whom the diverse products and services are being developed in the banking industry. It is not about aesthetics or is limited to creativity. It is the application of the design features to the way the bankers should interact with the customers. Design thinking means understanding the customers, accepting the various challenges in banking parlance and identification of the problems evaluate and find an alternative solution. It does not mean that aesthetics or good look is unimportant. But, attractiveness is of no use if the there is no resolution for the customer’s problem.
Previously, the banking institutions and credit organizations used to make products for meeting their own internal processes and enhancing their operational efficiencies. It did not give the customer a valued experience. Rather it was like a sparking wrapper on the banking products with no use. Design thinking in banking parlance is not just about opening a bank account by visiting the bank...
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