Comprehensive Communication Strategy for Commonwealth Bank: MGT502

This annotated bibliography examines the communication strategy of Commonwealth Bank, an Australian financial institution. The assignment analyzes ten articles, exploring topics such as the impact of communication on mergers and acquisitions, the role of communication in corporate social responsibility (CSR) expectations, the use of social media in crisis management, the importance of storytelling in organizational communication, the significance of communication in Fintech partnerships, and the role of knowledge management and integrated marketing communication (IMC). The bibliography also addresses corporate heritage communication and the need for effective communication strategies in macroeconomic management and bank lending. The articles provide insights into how communication affects various aspects of the bank's operations and its interactions with stakeholders, emphasizing the importance of a comprehensive and well-executed communication strategy for organizational success and navigating contemporary business challenges. The student has provided a detailed analysis of each article, summarizing the key themes and evaluating the authors' perspectives.

Running head: COMPREHENSIVE COMMUNICATION STRATEGY
Comprehensive Communication Strategy
Name of the Student:
Name of the University:
Author note:

1COMPREHENSIVE COMMUNICATION STRATEGY
Introduction
There are number of emerging contemporary issues that have led to increase tensions
among the business managers today. With the emergence of globalisation and
internationalisation, organisations are facing numerous challenges that were once completely
unknown. One of the contemporary business issues that are very common in most of the
organisations is that of ensuring effective communication. The chosen organisation for this
annotated bibliography is that of Commonwealth Bank. It would elaborate on analysing and
reviewing different articles that will contain useful information and ideas on the
contemporary business or organisational issue of developing and implementing a
comprehensive communications strategy for Commonwealth Bank, an Australian bank that
provides financial services.
Annotated Bibliography
Article 1:
Angwin, D. N., Mellahi, K., Gomes, E., & Peter, E. (2016). How communication
approaches impact mergers and acquisitions outcomes. The International Journal of
Human Resource Management, 27(20), 2370-2397.
This article by Angwin et al. (2016) have provided a systematic empirical study for
evaluating the relation in between the approaches of communication and the outcome of
mergers and communications in the organisation. It has created a topology for examining the
communication content and process and the survival of mergers and acquisitions of banks.
According to the authors of this article, there is a strong link in between effective
communication and the net results of mergers and acquisitions. Initially, the findings of this
article showcased the impacts of the communication practices in the merger and acquisitions
of the westerns companies and then, answered the calls for the extension of research of

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merger and acquisitions beyond the western developed nations. With the same, they also
confirm the vitality of the communication practices in the merger and acquisitions that have
extended the earlier findings on the role that the communication practices play in the
successful merger and acquisitions.
Article 2:
Saeidi, S. P., Othman, M. S. H., Streimikiene, D., Saaeidi, S. A., Saeidi, P., & Mardani,
A. (2017). IDENTIFYING THE GAP AND DIFFERENCES BETWEEN
CUSTOMERS'EXPECTATIONS FOR BANKS'CORPORATE SOCIAL
RESPONSIBILITY AND THE ACTUAL SCENARIO. Transformations in Business &
Economics, 16(2), 41.
Saeidi et al. (2017) in this article have examined the relation and the gap in between
the expectations regarding corporate social responsibility (CSR) of the customers and the true
CSR engagement within the field of banking. The banking industry is an industry that
requires to incorporate strategies for conducting their business in ethical, beneficial and
society friendly way in terms of development. This paper has elaborated on identifying and
comparing the different hierarchy of the CSR priorities of the customers in relation to the
CSR priorities of the bank manager. Saeidi et al. (2017) have also claimed about the
important role that communication plays in all this process. As per the researchers effective
communication in place is very necessary to be ensured in order to ensure that the
expectations of the customers related to CSR are been meeting by the company.
Article 3:
Hussain, S., Ryan, M., Cripps, H., & Lambert, C. (2017). Role of social media in
handling a crisis situation: A case study of Commonwealth Bank of Australia (CBA).
In The proceedings of 2nd Business Doctoral and Emerging Scholars Conference (p. 98).

3COMPREHENSIVE COMMUNICATION STRATEGY
Hussain et al. (2017) in this paper have explored about the way Commonwealth Bank
of Australia or CBA has managed to respond to the recent online crisis that it was facing. It is
to note that this online crisis was caused because of the money laundering allegations that are
levelled by the ‘AUSTRAC-Australian Transaction Reports and Analysis Centre’. The bank
successfully managed this crisis with effective use of social media. The findings of this
research study has also suggested that the media releases were primarily focused on a total of
five different elements in their response in crisis communication and that are resolution and
acknowledgement of the issue, coordination and reassurance of the compliance, assurance of
the conveying information, the software errors that were caused because of the breaches and
on the investment that were made in the ‘financial crime laws compliance’.
Article 4:
Barker, R. T., & Gower, K. (2010). Strategic application of storytelling in organizations:
Toward effective communication in a diverse world. The Journal of Business
Communication (1973), 47(3), 295-312.
In this research study, Barker and Gower (2010) have highlighted the importance of
technology and the way it has changed the business of the banking sectors over the passage of
years. As per the authors, technology has made it very vital for the managers to ensure that
there is a practice of effective communication in place. It has increased the challenge of
improving the organisational communication more than ever before. The research study
comprise of a model of storytelling as a whole organisational communication tool, and at the
same time, have discussed on the ways of effectively applying the concept of storytelling in
the diverse working environment as the banking sector falls under one of the most diverse
sector in modern world (Barker and Gower 2010). It is likely to increase the opportunities for
the business in coming days.

4COMPREHENSIVE COMMUNICATION STRATEGY
Article 5:
Rutherford, L., & Zaman, S. (2017). Unleashing the potential of Fintech: Developing
effective working relationships with the private sector.
This paper by Rutherford and Zaman (2017) have shed light on the responsibilities of
the banking sector, especially of the central banks under the membership of Commonwealth
who have sought for engaging and collaborating and being involved in partnership with the
Fintech sector in different ways. However, the whole paper is revolving around the
importance of communication and issue of developing and implementing a comprehensive
communications strategy. As per the authors, “effective communication strategies use a
systematic process and behavioural theory to design and implement communication activities
that encourage sustainable social and behaviour change.” It will help the banking sector in
communicating effectively and at the same time, meeting the organisational objectives. When
engaging into a partnership, the role of communication is also very crucial (Rutherford &
Zaman, 2017). Effective communication will ensure success in the partnership as all the pros
and cons of the collaboration can be highlighted in this way.
Article 6:
Omotayo, F. O. (2015). Knowledge Management as an important tool in Organisational
Management: A Review of Literature. Library Philosophy and Practice, 1(2015), 1-23.
Omotayo (2015) in this paper has shed light on the importance of emergence of
knowledge based economies and that of the effective knowledge management with the help
of having a comprehensive communication strategy in place. The author has claimed that
effective knowledge management is very important for the organisations that are seeking for
ensuring sustainable strategic competitive advantage for the business. The study has also
elaborated and highlighted the importance of communication in an organisation and why it is

5COMPREHENSIVE COMMUNICATION STRATEGY
important to ensure effective knowledge management practices among the employees. It is
very important to ensure long term business success and is highly focused on connecting
processes, people and technology for leveraging the organisational knowledge. The findings
of this article showcased the impacts of the communication practices in the private sectors.
The findings of this article have also showcased the impacts of the communication practices
in the field of organisational management.
Article 7:
Porcu, L., Del Barrio-Garcia, S., & Kitchen, P. J. (2017). Measuring integrated
marketing communication by taking a broad organisational approach: The firm-wide
IMC scale. European Journal of Marketing, 51(3), 692-718.
Porcu, Del BarrioGarcia and Kitchen (2017) in this paper has elaborated on
conceptualising the IMC (Integrated Marketing Communication) by means of adopting
broader organisational perspective that is highly inclusive. With the same, the research study
has also focused on empirically developing and validating the new scale of measurement for
assessing the firm-wide IMC. The findings of the paper have showcased that IMC is a very
useful concept that the banking sectors can make use of for ensuring that all the different
forms of messages and communications are very closely linked with each other. It helps in
integrating all the tools of promotion so that the employees within the organisation can
successfully work collaboratively in harmony. It helps in achieving the organisational
objectives and goals.
Article 8:
Balmer, J. M. (2017). Corporate heritage, corporate heritage marketing, and total
corporate heritage communications: What are they? What of them?. In Foundations of
Corporate Heritage (pp. 111-151). Routledge.

6COMPREHENSIVE COMMUNICATION STRATEGY
The main aim of this research study by Balmer (2017) is to gain a clear understanding
of the corporate heritage domain. It helps in specifying the requisites of the corporate heritage
for introducing and explicating the corporate marketing (Balmer, 2017). “The reflections in
this article comes at a time when slowly, but assuredly, the broad corporate heritage
phenomenon has generated interest, and is gaining legitimacy, within the corporate marketing
and corporate communications fields.” “Perceiving an organisation via a corporate heritage
prism can be of inestimable value in uncovering, identifying, maintaining and communicating
an institution’s heritage and provides an additional means by which a companies and
stakeholders alike can profit from the inherent latent value of corporate heritage identities.”
This article has also assessed how crucial a comprehensive communication strategy is for
ensuring long term development of the companies, particularly the ones in the banking and
finance sector.
Article 9:
Gaspar, V., Obstfeld, M., Sahay, R., Laxton, D., Botman, D. P. J., Clilnton, K., ... &
Ngouana, C. L. (2017). Macroeconomic management when policy space is constrained: a
comprehensive, consistent and coordinated approach to economic policy (No. 16/09).
International Monetary Fund.
This paper by Gasper et al. (2017) have assessed the negative impacts on the company
that do not have effective communication strategy in place. As per the authors of this article,
“without a coherent communication strategy, monetary easing may result in a ratcheting up of
longer-term inflation expectations and a perception that the central bank will soon tighten,
again offsetting the effect on output. When these types of perceptions exist, financial markets
are apt to react with bouts of volatility and sharp increases in term and risk premiums Gasper
et al. (2017). Policy actions conducted within a long-term stability framework, however, are

7COMPREHENSIVE COMMUNICATION STRATEGY
more likely to have the intended results.”” Having transparent and clear set of bank
communications that is in line with the proper actions is very helpful in all the aspects of
monetary policy, expectations and credibility.
Article 10:
Qian, J., Strahan, P. E., & Yang, Z. (2015). The impact of incentives and
communication costs on information production and use: Evidence from bank
lending. The Journal of Finance, 70(4), 1457-1493.
In this research study, Qian, Strahan and Yang (2015) have focused on both the
individual incentives as well as the cost of communication for the decision making authorities
and how it influence the use of information and production. The author of this article have
studies how the banks make use of the details and information for setting the rates of loan
interest and how those details and information forecasts the upcoming results and outcomes.
With the same, the relation among the quality of information production, costs of
communication and incentives are also assessed in this study. The authors have concluded
that effective communication strategy enables the partners and the organisational
stakeholders for providing input and at the same time, agree upon the most effective way to
ensure that the overall actions are unified. As per the authors, having a communication
strategy in place help the partners and the staff in having a map that they can easily refer to
through different stages of program development.

8COMPREHENSIVE COMMUNICATION STRATEGY
References:
Angwin, D. N., Mellahi, K., Gomes, E., & Peter, E. (2016). How communication approaches
impact mergers and acquisitions outcomes. The International Journal of Human
Resource Management, 27(20), 2370-2397.
Balmer, J. M. (2017). Corporate heritage, corporate heritage marketing, and total corporate
heritage communications: What are they? What of them?. In Foundations of
Corporate Heritage (pp. 111-151). Routledge.
Barker, R. T., & Gower, K. (2010). Strategic application of storytelling in organizations:
Toward effective communication in a diverse world. The Journal of Business
Communication (1973), 47(3), 295-312.
Gaspar, V., Obstfeld, M., Sahay, R., Laxton, D., Botman, D. P. J., Clilnton, K., ... &
Ngouana, C. L. (2016). Macroeconomic management when policy space is
constrained: a comprehensive, consistent and coordinated approach to economic
policy (No. 16/09). International Monetary Fund.
Hussain, S., Ryan, M., Cripps, H., & Lambert, C. (2017). Role of social media in handling a
crisis situation: A case study of Commonwealth Bank of Australia (CBA). In The
proceedings of 2nd Business Doctoral and Emerging Scholars Conference(p. 98).
Omotayo, F. O. (2015). Knowledge Management as an important tool in Organisational
Management: A Review of Literature. Library Philosophy and Practice, 1(2015), 1-
23.

9COMPREHENSIVE COMMUNICATION STRATEGY
Porcu, L., Del Barrio-Garcia, S., & Kitchen, P. J. (2017). Measuring integrated marketing
communication by taking a broad organisational approach: The firm-wide IMC
scale. European Journal of Marketing, 51(3), 692-718.
Qian, J., Strahan, P. E., & Yang, Z. (2015). The impact of incentives and communication
costs on information production and use: Evidence from bank lending. The Journal of
Finance, 70(4), 1457-1493.
Rutherford, L., & Zaman, S. (2017). Unleashing the potential of Fintech: Developing
effective working relationships with the private sector.
Saeidi, S. P., Othman, M. S. H., Streimikiene, D., Saaeidi, S. A., Saeidi, P., & Mardani, A.
(2017). IDENTIFYING THE GAP AND DIFFERENCES BETWEEN
CUSTOMERS'EXPECTATIONS FOR BANKS'CORPORATE SOCIAL
RESPONSIBILITY AND THE ACTUAL SCENARIO. Transformations in Business
& Economics, 16(2), 41.