Introduction to Management - Commonwealth Bank
Added on 2021-06-17
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RUNNING HEAD: Introduction to management 0COMMONWEALTH BANKIntroduction to management
Introduction to management 1ContentsIntroduction...........................................................................................................................................2Overview of Commonwealth Bank.......................................................................................................2Performance..........................................................................................................................................2Recommendations.................................................................................................................................4Conclusion.............................................................................................................................................4References.............................................................................................................................................5
Introduction to management 2Introduction The commonwealth bank is an Australian bank. The bank conducts it’s operations in US, UK, New Zealand, Fiji and Asia. It is one of the leading renowned brands in Australia. The headquarter of bank is situated in Sydney, Australia. The commonwealth bank was awarded as ‘Bahamas 2015 award’ (Commonwealth Bank, 2018). This report consist of the overview of Commonwealth bank which includes it’s general description and services. Further the performance of company has been discussed. The performance reveals the factors which makes it a popular place of employment. Finally the recommendations are given to attract and retain employees. Overview of Commonwealth BankCommonwealth bank is a leader of financial services and was established in 1911. The bank offers financial services such as insurance, trade, premium and institutional banking, investment, funds management, share broking funds, superannuation and retail banking. Commonwealth bank provides retail banking services such as credit cards, home loans, personal loans, transaction accounts and demand and term deposits. The commercial productsprovided by bank are business loans, equipment and trade finance, rural and agribusiness products to the corporations and other organisations. The bank also tackles investment portfolio. In addition, it also offers a variety of life insurance, retirement and general insurance products (Schlagwein, Thorogood & Willcocks, 2014). The bank serves it’s customers through various channels such as branch, online and mobile. PerformanceThe Commonwealth bank is focused on helping people. The bank delivers seamless experience in the innovative ways. It is the one of the leading registered company on the Australian Securities Exchange. The bank has 51,000 employees, more than 4,000 managers and 8, 00,000 shareholders. The company has increased performance appraisal completion rates from 50% to 98% (Cornerstone, 2018). The bank provides various types of employmentlike full employment, part time employment, casual employment and temporary employment.The full time employee’s works in standard hours under clause 12 of agreement. The part time employee is engaged in less than standard hours. The casual employees are employed oncasual basis. The temporary employees are engaged for a specific period of time until the task
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