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Strategic Information System of the Commonwealth Bank

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Added on  2020-05-28

Strategic Information System of the Commonwealth Bank

   Added on 2020-05-28

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Running head: STRATEGIC INFORMATION SYSTEMStrategic Information SystemName of the StudentName of the UniversityAuthor’s note
Strategic Information System of the Commonwealth Bank_1
1STRATEGIC INFORMATION SYSTEMTable of ContentsIntroduction......................................................................................................................................2Discussion........................................................................................................................................31. Commonwealth Bank- Structure, Services and Products............................................................32. Operations and Functionality.......................................................................................................53. Information Systems Strategy......................................................................................................74. Difficulties in developing IS Strategy.........................................................................................85. Information System Failures......................................................................................................10Conclusion.....................................................................................................................................11References......................................................................................................................................12Bibliography..................................................................................................................................15
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2STRATEGIC INFORMATION SYSTEMIntroductionStrategic information systems help organizations to support as well as shape thecompetitive strategy of its business units. SIS helps an organization to effectively utilize valuableinformation for gaining competitive and strategic advantage in the market (Altaf and Khalil2016). Strategic information systems enable organizations to improve its performance,productivity, operational efficiency and develop new and advanced businesses (Amrollahi,Ghapanchi and Talaei-Khoei 2014). SIS is gaining importance as it is required by organizationsfor organizing and managing business procedures and activities in a new manner. SIS will helpbusinesses to use and apply valuable information for attaining the strategic objectives(Arvidsson, Holmström and Lyytinen 2014). Strategic information systems can help the variousorganizations to achieve its objectives by aligning the strategies of its business with the IS. The following literature review describes the various processes and the organizationalstructure of Commonwealth Bank. It also gives a brief overview of the different products offeredby the bank. It points out the gaps present in the current processes of the bank and identifies thespecific issues that can be solved by the new system. This literature review also describes theconcept of Information System Strategy and highlights the challenges that might be faced byCommonwealth Bank while implementing the strategy. It gives recommendations forovercoming the mentioned challenges. This literature review mentions the issues that can occurwithin an IS project and gives suggestions for solving the problems.
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3STRATEGIC INFORMATION SYSTEMDiscussionCommonwealth Bank is a renowned multinational Australian bank that runs its businessin several countries. It is a leading integrated financial service provider in Australia. This leadingbank of Australia is known for offering various services such as banking services and otherfinancial institutional services. Commonwealth Bank also provides investment services,insurance services and fund management services. Commonwealth Bank utilizes extensivepolicies and takes various initiatives for meeting the customer commitments and increasing thelevel of customer satisfaction (Commbank.com.au. 2018). It is one of the most recognised brandsof the financial sector in Australia. 1. Commonwealth Bank- Structure, Services and Productsa) Structure of the organization: The structure of Commonwealth Bank has various levelsbased on different job roles. The employees belonging to each level has to report to the higherlevel employees. The topmost level of the structure has the Board of directors and the topmanagement team (Commbank.co.id 2018). The middle or next level managers are under thesupervision of the topmost level of the tall structure, and they make decisions based on short-term goals. The topmost and middle level in the hierarchy use strategic and tactical informationrespectively (Pearlson, Saunders and Galletta 2016). The lower levels of the hierarchicalstructure need operational information for carrying out daily activities and meeting dailyobjectives as well as targets.
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