Innovation and Sustainability in Business

The discussion aims at exploring the different key elements of the change that is planned by the business and the manner in which it can be implemented on the business through the identification of the capabilities and competencies of the business.

Running head: INNOVATION AND SUSTAINABILITY IN BUSINESS
INNOVATION AND SUSTAINABILITY IN BUSINESS
Name of the student
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1. Introduction
Growth and expansion of businesses is characterized by the identification of the
sustainability factors of the business in the market. It helps the organizations in maintaining a
balance in the value proposition and the needs of the customers (Zott, Amit & Massa, 2011).
The identification of the change needs of the organization depends on the accountability and the
credibility of the same to bring in continuous innovation s in its functions and processes. It will
be helping to ensure the different levels of promotions and improvements in the structure of the
businesses. Commonwealth Bank, Australia, has also taken steps to ring in continuous
improvements in the structures and the functioning of the business as per the requirements of the
customers who visits the bank. Key elements of the change that the bank is planning to undertake
is characterized by the utilization of the business model canvas, which facilitated the
organization to identify its internal and external capabilities. The discussion aims at exploring the
different key elements of the change that is planned by the business and the manner in which it
can be implemented on the business through the identification of the capabilities and
competencies of the business.
2. Discussion
2.1 Business Model Canvas
Key Partners
 Subsidiaries
 credit card
companies
Key Activities
 investment
 customer
services
 assessments of
Value Propositions
 sustainable
growth
 retail
Consumer
Relationships
 Trust
 Security

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 Investors
 Regulatory
agencies
 Associates
 financial
community
 ATM
service
providers
 partnership
with Aussie
and Wizard
Home loans
risks for key
personnel
 international
operations
 loans
 credit cards
 savings and
transaction
accounts
 corporate
governance
banking
 financial
services to
small scale
businesses
and
rendition
of personal
loans
 wealth
manageme
nt
 liquidity of
finance and
circulation
of the same
to maintain
the market
equilibrium
 reputation
 Convenience
in banking
resulting to
customer
satisfaction
 Experience
in the sector
has helped in
the
enhancement
of the
services
 Reward
programs
Key Resources Channels Consumer Segments

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 largest
branch and
ATM
networks in
Australia
 IT
capabilities
 Large base
of
customers
 large
number of
skilled
workforce
 Wide
variety of
products
and services
through the
identificatio
n of the
needs of the
 mobile banking facilities
 Social networks
 websites
 Net banking facilities
 Mobile apps
 Newsrooms
 Massive
retail and
corporate
customers
 Governments
 credit card
holders
 Customers
from
different
households
Households
 Small
businesses

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customers
Cost Structures
 interests paid
 rewards and recognitions of the
employees
 Network
 IT infrastructures
 security
 financial costs like rents and taxes
 Presence
 Offices
 Salaries
Revenue Streams
 Financial revenues like interests on
credits, commission and service fees
 premium on the policies
2.2 Discussion on the business model canvas
The business model canvas of an organization helps in identifying the different future
prospects of the change that is planned by the business to sustain in the competitive market
conditions. The identification of the capabilities and the competencies that might be faced by the
organization helps in understanding the various prospects of the change in the performance of the
businesses in the market.
The Business model canvas of Commonwealth Bank, Australia, has helped in identifying
the different capabilities and the competencies that might be faced by the organization while
bringing in changes to boost up the innovative approach of the business. The value that is

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proposed by the organization depends on the identification of the needs of the corporate
customers of the business. It will be helping the business to bring in modifications in the
activities that are planned by the same to support the requirements of the global customers. Long
term loans and the rendition of the credit cards to the needs of the customers has helped in the
development of the bank. On the other hand, the key resource of the company is based on the IT
infrastructure, which has helped the business in identifying the needs of the customers based on
the market trends.
The transitions that are planned by Commonwealth bank are dependent on the
enumeration of the internal and the external capabilities of the business. The provisions of the
various services based on the identification of the customer segments have helped the bank in
outlining the differences between the personal interests of the people and the corporate
customers (Coes, 2014). The bank supports the financial needs of the small businesses and
thereby supports their growth. On the other hand, the security and the trustworthiness of the
bank’s functions have helped in creating loyalty among the key customers of the business. It has
helped the bank in maintaining sustainability in the operations that are planned by the same as
per the market needs. The delineation of the cost structure of the bank has helped in identifying
the chief expenses that are required to be made by the business for the smooth functioning of the
same (Porter & Heppelmann, 2015). Identification of the needs of the employees has helped the
bank in retaining the skilled workforce of the business. It has helped the business in maintaining
a sustainable approach in the market.
The revenue streams of the business helps in identifying the possible flow of revenue for
the smooth functioning of the businesses in the markets (De Reuver, Bouwman & Haaker,
2013). The revenue streams of the business helps in identification of the procedures that are

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undertaken by the business to utilize their assets for making the required returns on the credits,
which helps in boosting the company’s sustainability approach (Dudin et al., 2015). The
customer support systems of the business have helped in making the required improvements as
per the needs of the customers (Osterwalder & Pigneur, 2010). The key aspects of the change
that is planned by the business is based on the development of the IT systems of the business
which will be helping the business to identify the needs of the customers and bring in changes in
the systems to facilitate the needs of the corporate customers (Muhtaroglu et al., 2013). The
credit cards and the ATM services that are provided by the organization have helped in
enhancing the situation of the same in the competitive market scenario.
2.3 Sustainability factors
The sustainability factors of the business are dependent on the changes relating to the
improvements in the activities that are undertaken by the business in the market. The continuous
innovation undertaken by the business has helped the same in bringing forth improvements in the
situation of the business (de Jong & van Dijk, 2015). The identification of the core capabilities
and competencies through the enumeration of the business model canvas of Commonwealth
Bank has helped the same in developing the different elements of the transition. It has also
helped in influencing the change in the structure of the business to adhere to the requirements of
the market and the customers (Porter & Heppelmann, 2014).
The critical sustainability factors of the business depend on the identification of the
various issues that are faced by the businesses while undertaking the changes as per the needs of
the customers (Trimi & Berbegal-Mirabent, 2012). The identification of the type of wealth
management and the other financial services that are offered by the businesses is dependent on

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the identification of the needs of the customers in the market. Chesbrough (2010) stated that the
identification of the needs of the business is dependent on the transition that the organization
plans to undertake through the identification of the needs of the customers. On the other hand,
the structure of the company is influenced by the competencies, the capabilities, and the
identification of the manner in which the company utilizes the capabilities to avoid the
competencies to attain their corporate goal of sustenance (Johnson, Christensen & Kagermann,
2008).
3. Conclusion
Therefore, from the above discussion it can be stated that the identification of the core
competencies of the business helps in understanding the situation of the business in the
competitive markets. On the other hand, understanding the capabilities of the organization helps
the same in bringing in the required changes to support the sustainability needs of the company
in the market. The facilities that are provided by commonwealth bank to its customers has helped
the same in making improvements in the market situation. On the other hand, the identification
of the change needs of the business has helped in influencing the success factors of the business
as per the needs of the customers in the Australian markets. The bank helps the small scale
businesses to grow in the Australian markets. The supportive nature of the business has helped in
identifying the required changes for meeting the objectives of the business to make its progress
in the international markets. The enumeration of the business model canvas of the organization
has helped in identifying the different key elements of the change in the structure based on the
core competencies.

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