Change Management

This document discusses the concept of change management and its application in Commonwealth Bank of Australia. It explores the selection of the diagnostic tool (Six Box Model) and its application in identifying areas requiring attention. The document also highlights the need for technological innovations and the importance of monitoring and controlling systems.

Running head: CHANGE MANAGEMENT
CHANGE MANAGEMENT
Name of the student
Name of the university
Author note

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Table of Contents
Task 1...............................................................................................................................................2
1. Introduction..................................................................................................................................2
2. Selection of the diagnostic tool (SIX BOX MODEL Analysis)..................................................2
3. Application of the diagnostic tool on Commonwealth Bank of Australia...................................4
4. The areas in the organization requiring attention........................................................................6
Task 2...............................................................................................................................................6
References......................................................................................................................................10

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Task 1
1. Introduction
The modifications that are commenced by businesses are dependent on the delineation of
the urgency that is encountered by the same. The different modifications in the processes and
the other aspects in an organization is dependent on the market research and the diagnostic tool
that is utilized by the enterprise. The diagnostic tools help the organizations in understanding the
different issues and concerns that are encountered by the same while operating ion diverse
competitive scenarios (Aebi, Sabato & Schmid, 2012). On the other hand, the management of
change involves different activities relating to the assessment of applicability of the change as
per the capabilities of the venture and the support that they might receive from the stakeholders
during the implementation of change. The utilization of the diagnostic tools will be helping the
organization in upholding the efficiency of the management process through a better evaluation
of the concerns and uncertainties.
The report will be undertaking a review of a diagnostic tool and thereby apply the same
on Commonwealth bank of Australia. It will be assisting the organization in delineating the
issues that are encountered by the same in order to facilitate the uninterrupted functioning of the
systems. The discussion will also enumerate the key areas where the organization might focus on
the different concerns in order to support the sustenance of the same.
2. Selection of the diagnostic tool (Six Box Model)
The choice of the diagnostic tool is based on the assessment of the requirements of the
business. The chief modifications that are commenced by the organization are dependent on the

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evaluation of the capabilities and competencies of the same while operating in different global
markets. The technological innovations and the modifications in the regulations imposed by the
governments in the target markets affect the productivity of businesses (Albertini, 2013).
Therefore, the changes that are commenced by ventures are dependent on identification of the
internal capabilities and competencies that are encountered by the enterprise. The SIX BOX
MODEL analysis helps organizations in understanding the different aspects of internal
capabilities and competencies of the same while operating in diverse global markets (Nica,
2013). The diagnostic tool assists the organizations in understanding the internal strengths and
weaknesses of the same. On the other hand, the model also helps organizations in assessing the
different opportunities and threats that are encountered by the same while making an expansion
in the global markets. The assessment of the different capabilities and competencies of the
organization helps the same in understanding the key areas that requires improvements. The
assessment of the capabilities and competencies that are encountered by the organization helps
the same in identifying the level of modifications that might be introduced by the same to
support the sustenance. On the other hand, the SIX BOX MODEL assists in enriching the
organizational knowledge relating to issues that might be encountered by the same.
Therefore, the SIX BOX MODEL of the organization works as an efficient tool for
diagnosing the internal position of the organization and thereby provides the same with a
checklist of concentrating on the key areas where modifications might be commenced. Cobb,
Wry and Zhao (2016) stated that the modifications that are commenced by the organizations
helps the same in facilitating the uninterrupted functioning of the systems as per the objectives of
growth and sustenance. Therefore, the SIX BOX MODEL in organizations assists the same in

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upholding the efficiency of the procedure s as per the urgency that is encountered by the same
while driving the processes as per the concerns encountered by the business.
3. Application of the diagnostic tool on Commonwealth Bank of Australia
SIX BOX MODEL
Purposes
The purpose of the organization is to operate as per
the needs of the customers. The concerned
organization provides the customers with financial
and monetary services to the customers. The range
of products and services that are that are offered by
the organization to the customers are loans, credit
cards, transaction and savings accounts. The
organization holds different branches like
Bankwest, ASB Bank, Commonwealth Securities
Limited and Commonwealth Insurance Limited,
which has helped in enhancing the procedures of
the same as per the concern of the customers
(Izquierdo, & Vicedo, 2012).
Rewards
The organization provides competitive pay,
superannuation and different other performance
incentives in order to boost the operations that are
undertaken by the employees. Different options are
provided by the bank like Employee Salary
Sacrifice Share Plan (ESSSP) and certain financial
benefits, which helps in maintaining the efficacy of
the employees. The ESSSP helps the employees in
making a buy of the bank’s shares amounting to
$5,000 per annum. The diversity in the financial
service propositions has helped the organization in
attracting the attention of majority of its customers
(Giannakis & Harker, 2014)
Structure
The organizational structure of the concerned
organization has helped the same in maintaining
the efficacy of the operations that are planned by
the same. The organization aims at providing Retail
Banking Services, Premium Financial Services,
Leadership
The leadership of the organization has greatly
contributed to the performance of the same in the
different market sections. The leadership structure
of the organization has assisted the same in
enlisting in the Australian Securities Exchange,

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Investment and Insurance Services and Institutional
and Business Services to the customers. The
different sections in the organization are based on
the different types of financial services that are
planned by the organization.
which has added to the brand image of the same
(Sung & Choi, 2012). The inadequate leadership
influence, however, affected the organization
through a controversy. The bank encountered
different controversies relating to the unethical
banking and money laundering, which affected the
customer loyalty and brand name of the
organization (Churet & Eccles, 2014)
Relationships
Poor relation with the different stakeholders might
affect the undertakings of the bank and thereby
restrict the collaborative functioning of the same
(Taipaleenmäki & Ikäheimo, 2013). Loss of
investor confidence and defaulters might result to
increasing concerns of the bank relating to
sustainability of the same in the different
developing and developed economies (Bon &
Mustafa, 2013). The increasing rate of loan
impairment and amendment of the debts is an
increasing concern for the organization ass it
affected the systematic functioning of the same as
per the objectives (Sung & Choi, J. 2014). The
lack of collaborative functioning of the
stakeholders has affected the interests of the
Helpful Mechanisms
Implementation of different technologies like
mobile banking and internet banking into the core
activities will be helping the organization in
maximizing the customer base (Kuipers et al.,
2014). On the other hand, the implementation of
the different technologies in the service
propositions will be assisting the organization in
gaining a competitive edge of the same in the
respective global markets (Weber, Diaz &
Schwegler, 2014). The expansion of the
organization in the different parts of Asia and other
developing economies will be helping the same in
enhancing the profitability of the venture. The
adherence to the banking regulations will be
helping the organization in undertaking ethical

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organization while operating as per the objectives
of the same (Akgün et al., 2014)
business in the developing economies thereby
supporting the customer loyalty of the same
(Baxter et al., 2013)
4. The areas in the organization requiring attention
The organization is required to bring forth different technological innovations like
introduction of mobile and internet banking services in order to maximize the customer activities
(Menzel, 2014). On the other hand, the different ethical issues that are encountered by the bank
relating to money laundering and fraudulent activities must be monitored and controlled in order
to retain the customer loyalty towards the organization. The organization might also undertake an
assessment of the market in order to facilitate the uninterrupted functioning of the systems in the
different economic conditions. Poor relation with the stakeholders has affected the uninterrupted
functioning of the business procedure s that are planned by the concerned enterprise (Hvidman &
Andersen, 2013). Therefore, the organization must take steps to develop different processes in
order to maximize the involvement of the stakeholders in the processes that are commenced by
the same. The limited expansion of the organization in the respective markets has affected the
profitability of the same in the respective markets (Wuttke, Blome & Henke, 2013). Mostly
the organization has encountered threat relating to money laundering and fraudulent activities
that have affected the interests of the customers (Morgeson et al., 2013). Therefore, the
organization should implement different monitoring and controlling systems in order to avoid
situations like money laundering and frauds for retaining the customer loyalty and goodwill.
Assessment of the organization’s internal capabilities and competencies through the application

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of the SIX BOX MODEL will be helping the same in delineating the chief areas where
modifications might be commenced.
Task 2
The assessment of the concerns that are encountered by the Commonwealth Bank has
helped in identifying the different areas in the processes that are required to be modified. The
assessment of the internal capabilities and competencies will be helping to enrich the functioning
of the same as per the concerns that are encountered by the same. The different activities that are
commenced by the bank have helped in supporting the sustainable objective of the same.
However, the assessment that was commenced in the previous part of the report has helped in
understanding the growing concerns that are encountered by the bank relating to the fraudulent
activities. Change management procedure that is being commenced by the organization is based
on the assessment of the needs and thereby analyzing the capabilities of the same. The successful
implementation of different modifications in the procedure s will be facilitated trough the proper
understanding of the urgency that is encountered by the organization. Therefore, the organization
undertook the initiative of replacing the processes as per the sustenance needs of the same.
The different activities that might be commenced by the organization are based on the
prioritization of risks encountered by the same. The organization has already implemented a
social media platform for undertaking the assessment of the needs of the customers. On the other
hand, the organization also considered to undertake net and mobile banking for attracting the
attention of the customers. The successful implementation of different networks and stakeholder
support has helped the organization in undertaking a collaborative approach towards fulfilling
the objectives of the same. The assessment of the internal capabilities and competencies of the

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organization has helped the same in upholding the efficiency of the procedure s as per the needs
of the enterprise. The organization undertook different reforms in order to facilitate the net and
mobile banking applications in order to fulfill the requirements of the customers. On the other
hand, the organization focused on developing and integrating their services with the social media
platforms in order to promote their service offerings to large number of customers in the
different regions of the world. The social media integration of the organization has helped the
same in upholding the efficiency of the procedure s that are commenced by the same as per the
objectives of growth and sustenance. The collaborative functioning of the stakeholders with the
organization is supported through meetings and sessions with the same. It has helped the
organization in undertaking discussions with the investors and avoiding defaulted payments.
On the other hand, the organization is looking forward to implement different monitoring
and controlling systems in order to avoid situations of frauds and money laundering. The key
changes that might be commenced by the organization is dependent on the prioritization of the
risks and uncertainties that are encountered by the organization while operating in diverse
economies. However, the lack of implementation of different monitoring and controlling
measures might affect the uninterrupted functioning of the organization as per the objectives. On
the other hand, the organization is considering to expand in the developing economies which
might be helpful for the same in gaining a huge amount of investors. The change that might be
commenced by the concerned organization will be helping the same in supporting the cause of
sustenance in the global markets. However, the organization failed to expand their markets in the
Asian subcontinents, which has affected the sustenance of the same in the different regions. The
key areas of change that might be commenced by the organization is dependent on the

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identification of the capabilities while making a market expansion in the different regions of
Asian markets.
The organization might undertake expansion in the Asian markets in order to enhance the
profitability of the same. On the other hand, the implementation of monitoring and controlling
systems will be helping the organization in upholding their standard of financial services as per
the banking ethics. The development of the monitoring and controlling systems in the
organizational systems will be helping the same in upholding the brand image in the respective
market sections. The social media integrations and the development of net or mobile banking
has helped the organization in enhancing the user experience and thereby retain the customer
loyalty. However, the induction of suitable monitoring and controlling systems will be helping
the organization in checking the quality of the financial services that are proposed by the same to
the customers. The enhanced quality of services will be helping the organization in assuring the
customers of security and quality issues that are encountered by the same.
I believe that the organization must undertake an evaluation of the needs of the customers
in order to bring forth different modifications in the processes. Customer consensus plays a
major role in the service providing sector as the preferences of the customers differs from person
to person. On the other hand, I believe that the organization must implement the controlling and
monitoring systems in order to avoid fraudulent activities. It will be helping the organization in
retaining the brand name and the customer loyalty through quality assurance and security. The
different developments of the business and sustenance of the same are dependent on the long
term planning. On the other hand, I believe that the organization must take steps to expand in the
Asian markets in order to enhance their profitability through steady growth of industrialization in
the developing economies. The expansion of the organization in the developing economies will

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help in ensuring the steady growth of the business in different economies. Therefore, the
organization might undertake long term planning for sustenance rather than implementing their
resources for the short term financial profitability of the venture.

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