"UniversityGLOBAL MANAGEMENT SKILLSByDateNameLecturer’s NameGLOBAL MANAGEMENT SKILLSContentsSection A.................................................................................................................................................... 3Introduction .............................................................................................................................................. 3Objectives.............................................................................................................................................. 3Banking sector in Australia ................................................................................................................. 4Procedures required for getting employment in Australian banks .................................. 4Challenges and Pressures faced by the candidate to enter in the banking sector ofAustralia ..................................................................................................................................................... 5External Analysis of Australian banks ........................................................................................ 6Economic Factors ............................................................................................................................ 6Legal Factors .................................................................................................................................... 7Social Factors ................................................................................................................................... 7Political Factors ............................................................................................................................... 7Cultural Factors ............................................................................................................................... 8Section B.................................................................................................................................................... 9CV ............................................................................................................................................................. 9References .............................................................................................................................................. 12 Page 2 of 13 GLOBAL MANAGEMENT SKILLSSection AIntroductionIn today’s business world, an entrepreneur must have the skills and knowledgeabout a particular business else he cannot run an organization. An organization canonly be operated if it has lots of employment competencies, organizationalstrategies, leaders, prospects and objectives and so on. Here, the topic isconsidered as the banking sector in Australia. In Australia, the banking industryconsists of some banks which are licensed for carrying the baking business. Thebanking business is processed under the Banking Act 1959. Financial institutionslike building societies, credit unions as well as mutual banks are present which ispresent in Australia, and it provides a limited banking-type service.ObjectivesThe goals to develop markets in different countries are reflected in the interest ofthe students. The goals of starting a business can be broadly categorized into twoseparate categories. The first one is the financial targets and the second one is thenon-financial objectives(Somashekar, 2009). Every entrepreneur needs a financialbackup for their survival. Most of the business does not survive for a reason likelack of funding. A viable business model can provide profits to an entrepreneur. Onthe other hand, non-financial business is like a freelance job. The person can workfrom home. He or she can make money, leave the job and grab another when theperson desires to(Allman, 2006). Here, no initial huge of investment is required. Page 3 of 13 GLOBAL MANAGEMENT SKILLSBanking sector in AustraliaBefore, entering into the banking industry of Australia, the candidate needs to gothrough the market environment of banks of Australia(Fund, 2012). In Australia,the banking system is competitive, well established and well developed. TheCommonwealth Bank was ranked first in the Bloomberg Riskless Return Ranking. Infourth place, there is Westpac Bank. In seventh place, ANZ bank is there inAustralia. It is recommended for the candidate to go for the Commonwealth Bank ofAustralia. It is the largest Australian listed company on the Australian SecurityExchange. The Commonwealth Bank of Australia is founded in 1911 by thegovernment of Australia(Williams, 2003).Some strategies are described below:Procedures required for getting employment in Australian banksThe candidate needs to follow up some plans to get jobs in Australian bankingsector. The strategies are as followed:Creating networkingNetworking is the best way to get connected with the peoples who are involved inthe banking industry of Australia(Getting started: One community bank's story,2000). The candidate can make use of the social networking websites such asInstagram and Facebook to make a connection.The networking helps thecandidate to grow his or her career in future. For example, the student made theconnection with the banking peoples. As a result, he or she can exchangeinformation about the details of the banks; it's internal working, and relationshipwith the customers, the banking schemes with the terms and condition and soon(Ordine and Rose, 2008).Page 4 of 13 GLOBAL MANAGEMENT SKILLSJoining institutionsIt will be better for the student to enter the institution that educates and covers thesyllabus of baking exams. It leads to the development of skills and knowledge ofthe student regarding the banking sector of Australia. These institutions help thestudent to explore fresh and new ideas and concepts of the banks. They refer thestudent that which bank will be useful for the career and which not.Acquiring knowledge and skillsThe students can get knowledge and expertise by reading newspapers and booksrelated to the banking sector. The student also can get knowledge by meeting withpeoples who are in accounts sections. Skills help them to perform better in theexam hall(Aspin et al., 2012). These skills are also necessary for on job process. Participate in the banking examsThe participation in banking exams needs some preparations. The student mustfollow some strategies such as taking stocks; know the type of exam pattern,professional coaching, working hard and practicing questions and answers(Gaudet,2015). The pattern of banking exams has multiple choice questions. The studentcan get the opportunity to participate in the business internship after the exam togain knowledge. Challenges and Pressures faced by the candidate to enter in the banking sector ofAustraliaBefore the recruitment process in the banking industry of Australia, the candidatehas to go through some challenges and pressures(Kofman and Murawski, 2015).Page 5 of 13 GLOBAL MANAGEMENT SKILLSSome candidate cannot crack the examinations even after two or three time’sappearance in the hall. Some of them get rejected due to disabilities, or he or sheis physically challenged. In banking sectors, disciplines prioritize first becausecustomer service is their urgent priority. Some candidates get rejected due toindiscipline status such as permanent tattoo throughout the body, he or she havesome past criminal records and so on. People who are physically challenged have towork harder than non-disabled persons for getting their foot on the ladder of theircareer(Challenges Faced by Students with Hearing Impairment in Bulawayo UrbanRegular Schools, 2014). Some people works less and makes great result since theirbrains are well developed and some works harder and gets average results. Ithappens regularly. Other than these, if the Australian banks see the improperformat of CV, then he or she gets rejected, and they are being told to come withthe proper form of CV after two or three months. As a result, these two or threemonths gets wasted. In most of the time, the candidate gets nervous before theinterviewer. It leads to the reduction of their confidence level. After that, they startto stammer in front of them. Naturally, they get rejected. In the banking sector, atrust of the employee can give rise to faith in the customers regarding moneyrelated issues. External Analysis of Australian banksEconomic FactorsThe Australian banking system is facing some financial crisis. These challengesmust be of the interest to policy makers which focused on the advancement ofcustomer welfare. During 2007 and 2008, a secure and safe banking system isPage 6 of 13 GLOBAL MANAGEMENT SKILLSbrought for sustainable growth in an economy. Today, Australian banks establishedthemselves in a better position(Schulz, 2005). They are well capitalized. Legal FactorsThe candidate must know the Australian banking law to gain knowledge aboutbanking. It has been said earlier that the banking sector of Australia is operatedunder the Banking Act 1959. This act helped the licensed foreign banks to operatethrough a branch of Australia(Beltrán, 2006). It is an act to regulate banking. Italso states to make provision to protect the currency of Australia and the publiccredit related to Commonwealth.Social FactorsIn today’s generation, most of the population all over the world do not go to bankfrequently except for emergency purposes. They operate the banking transactionsfrom their home by the utilization of mobile banking. The benefit of mobile bankinghelped the Australian citizens to conduct the transactions at any time and inanywhere. The bank also provides other beneficiary schemes to the customers. As aresult, the relation between the bank and the customers increases day by day.Political FactorsThe Banking Act 1959 is the result of the Australian Government. Due to thepolitical philosophy in the country, the arrangement of the legal factors such aslegal frameworks is possible to create(Wahid and Rehman, 2009). In Australia, thefederal form of constitution was implemented, but the federal government waspermitted the exclusive authority to constitute on banking as well as state banking.Page 7 of 13 GLOBAL MANAGEMENT SKILLSCultural FactorsThe culture of the Australian banks is working out the concentrations of theregulators. The Commonwealth Bank has started to transmit the culture of theemployees to a more flexible activity based style of working. Michael Harte, the CIOof the Commonwealth Bank along with David Craig, hosted a tour of new officers.Therefore, the candidate has opportunities to enter in the banking sector ofAustralia. Page 8 of 13 "