ANZ hunts survival archetype
ANZ is being overrun by organisational fashions from Silicon Valley, with the principles of "collaborative" working method set to be outlined this morning by the bank's chief executive, Shayne Elliott, the Financial Review reports.The AFR article drips with the jargon: there will be "agile teams", "squads" of about ten people that "group into tribes".The new lingo at ANZ for bosses will be "coaches" and "product owners" selected by remnant managers for their "capacity to work collaboratively in multidisciplinary teams".Elliott told the newspaper "hierarchies in a sense disappear", with his plan informed by a now two year old prototype by ING for this approach to running a financial services business.More details on ANZ's thinking may be made clear alongside its half-year profit, due for release this morning.