Executive Summary
This report was composed to discuss our findings with regards to Commonwealth Bank’s change program, ‘Which New Bank’ case study.
The report will touch briefly on the determinants of change as the focus of the report is Commonwealth Bank’s change strategy and how well the bank reacted to the change in Culture, Structure, Technology and Process.
More specifically this report aims to reflect the importance of change, and it has identified several categories involved with this topic. This report was initiated from a brief illustration on the bank’s history, reasons behind the new campaign “Which New Bank”, its results was then analysed and compared with researched data.
The major focus from this report was structure and culture, technology, process and results. It was then followed by a brief analyses on the result from the transformation process. Lastly this report was concluded by recommendation and conclusion.
Introduction
The introduction of “Which Bank” campaign during the 1990s has made strong impression to the general public in Australia. Irrespective of the campaign’s success, the “which bank” advertisement has always been associated with the Commonwealth Bank. The 1990’s has witnessed unprecedented growth in profitability as staff level was cut, followed by the introduction of IT transaction and call centre’s has further decreased the reliance on face to face contacts.
Despite increased profitability, the bank soon fell into predicament as their reputation was eroded due to high levels customer’s dissatisfaction, country branch was closed down to reduce expenditure, fewer banks meant that rural cust ...