Identification of Functional Areas Report 2022

BUSINESS ENVIRONMENT

Executive Summary
Commonwealth bank of Australia has its own internal as well as external stakeholders due to
which they knew that the company classify its internal and external stakeholders. Internal
shareholders include senior management, employees, and board members. Whereas, external
stakeholders includes lenders, suppliers, government, and local community. The stakeholder
matrix is a project management technique that can be used to examine project stakeholders
while determining central actions, which are necessary to align goals. This matrix indicates
the influence through power and interest, which helps to develop communication plan
aligning to stakeholder concerns and focus. Stakeholder analysis is a project skill
management where it is a process identifying the person, which are being affected by the
proposed action as being sorted as per their impact on the business actions.

Contents
Executive Summary............................................................................................... 1
Introduction........................................................................................................... 3
Identification of functional areas........................................................................... 3
Internal and external stakeholders and their related roles....................................4
Identification of level of influence of main stakeholders........................................6
Conflicting interests............................................................................................... 7
Level of influence in regards to the stakeholders..................................................8
Stakeholder`s matrix............................................................................................. 8
Comparison industry in which the business operates in the same industry........10
Conclusion........................................................................................................... 11
References........................................................................................................... 12
Appendix.............................................................................................................. 14

Introduction
The commonwealth bank of Australia is an Australian bank operating in certain business
(banking) across US, UK, Asia, and New Zealand. It avails large variety of the financial
services inclusive of retail, institutional business, superannuation, investment, insurance, and
broking services. The bank is an largest Australian listed organisation on ASX (Australian
securities Exchange) with its brands inclusive of ASB bank, colonial First investments,
commonwealth securities and commonwealth insurance (Haigh, Brubaker, and Whiteside,
2013).
Identification of functional areas
The structure operates a typical bank that consists of ten departments. Every functional area
plays an important role in operations of the company but they are categorised on the basis of
their way of working such as-
Determination of the financial needs of the customers and the businesses
Financial analysis and their equal interpretation
Calculation related to capital budgeting and working capital (Finance department)
Wire transferring operations
Marketing and sales
Human resources management
Standard documentation and its training
Electronic banking mortgage banking and commercial banking
Cash management department (Vogel, Shanahan, and Signorielli, 2018).
Wealth management, loan servicing, and investment banking