BUSN4100 Business Research For Financial Management

Evaluating the financial management strategies of the top four Australian banks i.e. Commonwealth, Westpac, ANZ, and NAB

Research Topic

Evaluating the financial management strategies of the top four Australian banks i.e. Commonwealth, Westpac, ANZ, and NAB

Introduction

This report will discuss several components such as research objectives, research motivation, and conceptual information about the research concepts, and research disciplines.

Objectives

• To explore the conceptual understanding of financial management strategies
• To discover different financial management strategies used by top four banks of Australia that are Commonwealth, Westpac, ANZ, and NAB
• To evaluate the effectiveness of the financial management strategies used by for top banks.

Motivation of Research

This study could lead to the researcher to get data regarding financial management strategies used by four different banks that are Commonwealth, Westpac, ANZ, and NAB. This will facilitate the researcher to comprehend many research tools that will be imperative for the accomplishment of the research goal named primary data collection method and secondary data collection method. It could consider different sources like survey through questionnaire method and content analysis method. Moreover, it will also support the researcher to evaluate different financial management strategies used by the Commonwealth Bank, Westpac, ANZ, and NAB. The investigator will also comprehend approaches and strategies of research methodology that could lead to reaching a reliable conclusion.   

A brief introduction to the topic

In the present period, financial management has become a key concern for the Commonwealth Bank, Westpac, ANZ, and NAB. Financial management provides a complete review to the Commonwealth back regarding its financial situation and strategies of financial management offer a plan to support in attaining long, medium, and short-term goals of the bank. Besides this, financial management is important for Westpac Bank, as it comprises the procurement of necessary finance to the business concern. Procuring required funds to plan a key portion of the financial management, which comprises conceivable financing sources at minimum cost. ANZ also make use of different financial management strategies in order to make a sound financial decision in the business. The financial decision will influence the complete operations of the business because there is a direct link between different department functions like human resource, marketing, production, etc. In addition, for NAB financial management is important in the arena of cumulating the investor’s wealth. Definitive goal of every business is to attain a higher profit and increased profitability results in the increasing investor’s wealth as well as the nation.    

Disciplines involved

This study is emphasizing on the financial management strategies used by top four Australian banks that are Commonwealth, Westpac, ANZ, and NAB. This, it is evaluated that this research is coming under the section of financial management.

Methodology

In this research, the researcher will consider primary and secondary data collection method to conduct the research. The primary data collection will consider the survey through questionnaire method while secondary information gathering process will entail the content analysis method. For this, the researcher will apply probability-sampling tool with simple random sampling method. For conducting this study, the investigator will select four top banks of Australia that are Commonwealth Bank, Westpac, ANZ, and NAB and will evaluate the financial management strategies used by them in order to attain long-term, medium-term, and short-term objectives.