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Business Studies - KAZ Group Limited

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Introduction

Business Studies - KAZ Group Limited Executive Summary Over the Financial Year of 2003, KAZ Group Limited (KAZ), Australia's largest information technology company, owned by Peter Kazacos, has seen considerable change within the business from internal and external influences such as business culture change, economic influences, financial influences, social influences, technological developments and one off abnormal circumstances such as SARS. Through effective strategic planning and direction, flexibility and adaptability to change and effective problem solving and decision making, KAZ has been able to successfully consolidate its position as Australia's largest Information Technology Company and achieving a revenue increase of 41% to $357.7 million. Strategic Planning and Direction Strategic planning and direction have been important for KAZ to have consolidated its position as the largest Australian information technology services company whilst introducing new services that will capitalise on the expanding market for business process outsourcing. Currently KAZ has continued to invest in new products which ensure new growth opportunities for the future. Their key focus for 2003 was the integration of their recent acquisitions, and with the integration now complete KAZ are now focusing on further reducing their cost structures over time. ...read more.

Middle

over Financial Year 2003. Sources of Change - Internal The main internal source of change during 2003 was a business culture change with the business being restructured and rebranded into three operating divisions2. This extensive restructure has involved streamlining the businesses into appropriate entities, adopting common processes and information systems, rationalising property, eliminating duplicate roles and restructuring management. The new structure will reduce costs, improve efficiencies and increase business opportunities by encouraging a closer working relationship between the operating divisions all of which are important for the company's continuing success. KAZ signed a number of new contracts for services including credit card application processing and now processes credit cards on behalf of three major banks in Australia. This change within the business has allowed diversification into new ventures such as credit card processing which has increased revenue for the company. They have also acquired the remaining 75% of Atune Financial Solutions which has ensured full control over the development of its new superannuation administration product. During 2003 Lyndsey Cattermole resigned as an executive director of the company, becoming a non executive director for which she received termination benefits of $189,971. ...read more.

Conclusion

This extensive restructure has involved streamlining the businesses into appropriate entities, adopting common processes and information systems, rationalising property, eliminating duplicate roles and restructuring management. The new structure will reduce costs, improve efficiencies and increase business opportunities by encouraging a closer working relationship between the operating divisions all of which are important for the company's continuing success. This structure would have caused a change in the business culture and the way it runs its operations. Management of Change KAZ has efficiently managed change within the business through the consistent monitoring of the business' activities and internal and external influences which may be affecting the business. Through this monitoring they have been able to continuously change and grow with the demand for their services in an increasingly competitive market. Executive Conclusion Through strategic planning and direction, flexibility and adaptability to change and problem solving and decision making, KAZ has successfully implemented strategies to adapt to and manage internal and external sources of change. Business Studies Business Management and Change Assessment KAZ Group Limited 1 A joint venture with the Thai Government and Kasikorn Bank 2 KAZ Technology Services, KAZ Business Services and KAZ Software Solutions 3 Companies can choose not to outsource to a single supplier, preferring to select multiple "best of breed" suppliers ?? ?? ?? ?? ...read more.

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