Macquarie Bank

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Introduction Macquarie Bank has been recognised as one of the most prestigious banks in Australia and around the world. Macquarie was established in Australia in 1969, it began operations in Sydney in January 1970 with only three staff. Macquarie Bank first opened its doors for business on 1 March 1985 with a retail branch in Sydney. Today, Macquarie Bank operates in a range of investment banking, commercial banking and selected retail financial services markets both in Australia and overseas. It is the only substantial, majority Australian owned investment bank and is a licensed trading bank under the Australian Banking Act 1959 (Macquarie History, 2007). Macquarie Bank has been consistently associated with a stream of major…show more content…
This has directly affected Macquarie with its financial services and products. Economic forces Economic forces pertaining to Australia can greatly influence the way businesses operate. General economic forces such as inflation rates, interest rates, currency exchange rates, unemployment levels, average disposable income, and personal saving rates can all affect organisations to a certain extent (Hill et al, 2004, p74). Inflation has affected Macquarie bank which then in turn goes to interest rates. Currently economic forces within Australia include rises in certain industries including the mining industry and real estate. By these industries entering a boom period, it increases the amounts which these industries will be willing to invest which in turn increases profits for banks. Technological forces In modern society with technology being so closely tied to having a competitive advantage, a lot of industries compete to keep up to date with new developments. The invention and increased use of computers, internet, and phones have all made a major impact on organisations around the world. The main effect that technological advancements have made within Macquarie bank is that internet banking is now a common and widely used item so banks need to constantly upgrade their technology in order to prevent hackers from entering their databases and causing havoc. Operating Environment: The Micro Environment There are many forces that
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