Change Management Analysis of Commonwealth Bank Australia

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CHANGE MANAGEMENT
ANALYSIS OF
COMMONWEALTH BANK
AUSTRALIA

Company’s Background Information
 Commonwealth bank is involved in offering integrated
financial services all over Australia, New Zealand and
in global market listed in ASX as renowned financial
institution.
 The bank provides premium, retail, funds
management, investment, superannuation along with
offering share broking services.
 The company has attained an increasing trend in its
revenue that is recorded to be 2600.5 crores AUD in
the year 2017 (Commonwealthbank.com.au. 2018).
 Market share price of Commonwealth Bank Australia
Group Limited is recorded to be 67.03 AUD as per
recent update in 2018.

Literature Review
Concept of Change Management and
Innovation
 Innovation can be explained as process of collaboration.
 Innovation is a process of change for creating highly effective
products, ideas and processes.
 Innovation in companies can be deemed as implementing new ideas
and developing existing services (Hornstein 2015).
 Change management includes tools, processes in managing people
to attain successful business results.
 Change management includes all the organizational tools which can
be used for facilitating people in making successful personal
transitions after implementation and adoption of change.
 Change management can facilitate in decreasing the impact of
change based instances such as service quality and everyday
business operations.

Literature Review
Types of Organizational Change
 Transformational or radical change
 Incremental change
 Developmental change
 Remedial change
 Transformational change
 Process and systems change
 People and culture change
 Structural change
 Merger or acquisition change
 De-merger change
 Relocation change
 De-merger change
Type of change to be implemented in the company depends on changing technology,
economic changes, new technology implementation, changing employee attitudes and
changing consumer needs and wants (Aarons et al. 2015).