Innovation and Sustainable Business Development at Commonwealth Bank Australia
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Added on 2023/06/13
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This presentation discusses the business model, disruption, smart connected products, opportunities and threats, business model canvas, value proposition and resources of Commonwealth Bank Australia. It also includes information about the bank's history, services, and growth expectations.
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INNOVATION AND SUSTAINABLE BUSINESS DEVELOPMENT Commonwealth Bank Australia
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Business Model is the framework that includes all the components of business together. It envisions the firm as a platform of decisions and theirresults.Theabovepictureshowsdifferentcomponentsof business model: What is Business Model? Click icon to add picture
Disruption is the process which change and improve the way in which business professionals think and run their business (Christensen, 2006). The company can implement disruption by following the above steps. What is Disruption?
Commonwealth Bank is a multi-national bank in Australia that was founded in the year 1911. It is one of the largest banks in Australia that offers above given services. Commonwealth Bank Australia servic es Retail banking services Investm ent Institutio nal banking Superan nuation Insura nce
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Smart-connected products are created by incorporating sensors,softwareandotherupdatedtechnologies. Commonwealth Bank has implemented different smart- connected products. Smart Connected Products Click icon to add picture
Opportunities and Threats of Smart-connected Products OpportunitiesThreats •To attain competitive edgeinglobal banking industry. •Tocreatealarge customer base. •Tooperatebusiness activitiesthrough smart-machines (Porter& Heppelmann). •Increasedcostof Training •Staffisunableto adoptchangesin technology. •Security Issues •Theftofconfidential data
Business Model Canvas (CBA) Key Partners Credit card firms Investors Subsidiaries Agreements with 2 Chinese banks (JinanCity Commercial Bankand HangzhouCity Commercial Bank) Society Financial clients Financial regulatory agencies. Key Activities Retailbanking services Investmentand insurance services Loan facility Credit cardfacility Riskassessment and management Openingsaving account Customer procurement Value Proposition Financialand retailbanking services Thebankis popular asone ofthelargest banksin Australia. Risk monitoring and control Viable growth Thebank offersfinancial servicesto personal customersand businesses. Management of wealth. Customer Relationships Personal contact with customers Securityto confidential information of customers. Trustand convenienc e Non- personal channels Brand imageand reputation. Customer Segments Mass population Allincome group people Bothmales and females Creditcard users Account holders Government Key Resources Extensive distribution network Theorganization hasestablished morethan100 branches. Reputationof Channels Websiteof Commonwealth Bank Mobile Banking Net Banking Socialmedia networking sites
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Value proposition and resources Financial and retail banking services largest banks in Australia. Viable growth Management of wealth. More than 100 branches. Wide distribution network IT capabilities Human resources Value PropositionResources and Capabilities
•Supportive in future development •Business model can overcome the future challenges. •The above-graph shows growth expectations at CBA. Conclusion Click icon to add picture