Identify Factors That Help Your Company to Survive and Prosper

Well-structured descent views that the business processes flow smoothly, and every problem that they face which hindrances their process can be solved immediately. kingdom Bank restructured the organization in 2001, and according to their strategic plan they pass on restructure in the future, to make sure the business to advance with the times. * account statement and information As commonwealth Bank enters the global market the report for their function is vital.This is not only because of different cultures and languages in foreign markets, simply also for the expanding in those markets through thorough explanation and providing information which includes the base on balls itself, price, conditions, rewards, benefits, etc. * Diversification and innovation During the 1970s, the Commonwealth bound diversified its business into areas like insurance and travel. After 1974, the bank also became more severely involved in foreign currency trading and international banking in ge neral.Commonwealth Bank created the first credit card in Australia in 1974 when it established Bankcard. In later years the bank began offering MasterCard (1984) and endorse (1993) cards as well. It is very for a firm in a service industry to be heavily innovative in lodge to survive in this fast growing demanding world. * Leadership, strategy and competitive advantage Commonwealth bank has a team of experienced people in its management which helps in organizing the workforce strategically.It also organizes leadership and talent base programs which allow the employees to learn the correct work attitude which they should adopt at work. Apart from this, it has also opened centers for the development of the advisors. CBA has a number of products and function which stand out from another(prenominal) banks. This is why at present products and services which Commonwealth has to offer have won numerous awards. On the other hand, it holds the number one position in the retail manageme nt gillyflower of Australia and life insurance. * Maximize product satisfaction for customersCBA always makes a antecedence to provide products that satisfy their customers. Take credit card as an example, CBA has introduced a credit card for students with little or absolutely no income at all. By applying online for this credit cards the customers (students) get $50 cash bank into the account after activation. This can increase satisfaction level for customers and in turn make them loyal. (Commonwealth Bank, 2011). * Ethics In terms of the respectable and juristic responsibilities, Commonwealth Bank has shown a firm commitment in maintaining an ethical workplace.The policy anticipates from the employees that they can easily raise their voice against the fraud and unseasonable conduct and bad administration done by others. The bank gives imputable attention to the implementation of these policies. These standards are communicated to the staff and employees from time to time. Ap art from this, on the official website for Commonwealth Bank, there is a special link that lists the codes of conduct, which ensure the organization provides customers with a professional level of services.