Innovation and Sustainability in Business

Running head: INNOVATION AND SUSTAINABILITY IN BUSINESS
INNOVATION AND SUSTAINABILITY IN BUSINESS
Name of the student
Name of the university
Author note

1INNOVATION AND SUSTAINABILITY IN BUSINESS
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

2INNOVATION AND SUSTAINABILITY IN BUSINESS
 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

3INNOVATION AND SUSTAINABILITY IN BUSINESS
 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