Business Model Innovation for Commonwealth Bank of Australia

The essay focuses on the application of business model innovation for Commonwealth Bank of Australia to maintain its reputation in the market and expand its horizon. The bank can ensure that the business does not change with the application of smart connected products. The essay suggests that the bank can offer customer satisfaction to remain the number one bank in Australia. The essay concludes that Commonwealth Bank needs to change its business model and improve its method of business canvassing to remain flexible in the business.

Innovation and Business
Development

Introduction
Business model is essential for analysing the
revenue and the profit earned by
organisations
The essay focuses on Commonwealth Bank of
Australia
Commonwealth Bank is the largest bank in
the country established in the year 1911.

Analysis
Commonwealth Bank can ensure that the
business does not change with the application
of the smart connected products
The application of the business canvas model
can help Commonwealth Bank maintain its
reputation in the market and expand its
horizon
Moreover, the bank can offer customer
satisfaction so that it can remain the number
one bank in Australia

Conclusio
n
Commonwealth Bank need to change its
business model
The reputation of the bank can be upheld with
the improved method of business canvassing
It can help Commonwealth Bank to remain
flexible in the business

Reference
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