Identify Factors That Help Your Company to Survive and Prosper

Well-structured business ensures that the business processes flow smoothly, and any problem that they nerve which hindrances their process basin be solved immediately. ground situate restructured the organization in 2001, and according to their strategic plan they will restructure in the future, to need sure the business to advance with the times. * Explanation and information As commonwealth marge enters the global market the explanation for their services is vital.This is not only because of different cultures and languages in foreign markets, but as well for the expanding in those markets through thorough explanation and providing information which includes the stomach itself, price, conditions, rewards, benefits, etc. * diversification and innovation During the 1970s, the Commonwealth jargon diversified its business into areas like indemnity and travel. After 1974, the bank also became more heavily involved in foreign currency trading and international banking in gene ral.Commonwealth Bank created the first character reference brainpower in Australia in 1974 when it established Bankcard. In later years the bank began offering MasterCard (1984) and Visa (1993) cards as well. It is very for a firm in a service intentness to be heavily innovative in order 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 based programs which allow the employees to tick 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 services which stand let out from other 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 unrivalled position in the re tail management fund of Australia and life insurance. * maximize product satisfaction for customersCBA always makes a priority to provide products that take 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 aft(prenominal) activation. This can increase satisfaction level for customers and in turn make them loyal. (Commonwealth Bank, 2011). * Ethics In terms of the ethical and legal 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 faulty conduct and pestilential administration done by others. The bank gives due attention to the implementation of these policies. These standards are communicated to the staff and employees from time to time. Apa rt 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.