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Compare the structure and activities of a public sector or not for profit organisation with a similar organisation in the privat - Assignment Example
Finance & Accounting
Pages 8 (2008 words)
To: From: Subject: Comparison of the Reserve Bank of Australia and Westpac Banking Corporation Date: 29 May 2013 Report EXECUTIVE SUMMARY The Reserve Bank of Australia (RBA) and Westpac Banking Corporation are public sector and private sector companies respectively…
INTRODUCTION Private sector and public sector organizations differ in the way they are managed and operated. The way they are structured helps to facilitate goal achievement. This report compares the Reserve Bank of Australia (RBA) with Westpac Banking Corporation (Westpac). Reserve Bank of Australia RBA is Australia’s central bank. The objectives of the Bank are set out in its policies – ensuring that the monetary and banking policies are advantageous to the people of Australia (Reserve Bank of Australia 3). In so doing the policies of the bank are designed to ensure stability of Australia’s currency, facilitate full employment; and contribute to economic prosperity and welfare of the Australian people. RBA has a Governor and Deputy Governor as well as a number of boards, committees, groups and departments. They all have their relevant functions which facilitate the proper management of the Bank. The structure of the organization is shown in the organization chart in Appendix 1. The Boards include the Reserve Bank Board and the Payments System Board. The Reserve Bank Board has responsibility for monetary and banking related polices while the Payments Systems Board is responsible for polices relating to the payments system. ...
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