Importance of Business Strategy in an Organization

Running head: ECONOMICS ASSIGNMENT
Economics Assignment
Name of the Student
Name of the University
Author’s Note

1ECONOMICS ASSIGNMENT
Table of Contents
Introduction......................................................................................................................................2
Answer 4..........................................................................................................................................2
Conclusion.......................................................................................................................................4
References........................................................................................................................................5

2ECONOMICS ASSIGNMENT
Introduction
The present study focuses on the importance of business strategy in an organization. The
company chosen for this purpose is CBA or Commonwealth Bank of Australia. The CBA is one
of biggest Australian multinational bank that provides different kinds of financial services that
involves-retail, fund management, insurance, superannuation and broking services. The variety
of products offered by this bank are –corporate banking, mortgages, finance and insurance,
investment banking, private equity, credit cards. This study reflects on the demand elasticity for
the products or service provided by CBA. The study also highlights on the two factors that affect
elasticity of demand for the product.
Answer 4
Over the years, the CBA has struggled to maximize profits by providing banking services
or products that satisfy the customers demand. The CBA has developed huge range of products
to offer customers for depository account. Commonwealth bank is one of the biggest credit card
issuers in Australia that offers wide range of low fee, low rate and reward options. The demand
for credit card offered by CBA has been found to be elastic in respect of interest rate that is
charged (Beck and Brown 2015). The amount of loans has been found to enhance considerably