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This research was undertaken to assess the current state of SISP implementation in Australia and theoretically develop and empirically test a measurement model of the progress of the SISP and in particular, the study aims to answer the following main research questions:

What is the degree of maturity and how adaptable to external and internal environmental pressure is Strategic Information System Planning in Australian organizations?

What are the best practices in measurement of SISP implementation and how successful is measurement in Australian organizations?

1.Which of the applied approaches best contribute to the likelihood of the SISP plan being implemented successfully and what is the time invariant SISP patterns across the industry?

2.What SISP objectives are, and to what extent are they accomplished and how sustainable are they?

3.To what degree old theoretical approaches are still in use or abandoned due to the impact of the internet and other environmental changes and how critical is the need for new approaches?

4.How relevant is SISP theory to practitioners’ requirements and does implementation of a specific SISP theory bring more satisfaction than not using a specific SISP method?

5.To what extent is theoretical correlation among SISP implementation success factors still valid and what is their change imperative?

6.To what extent is SISP part of business strategy and how do the business managers’ perceptions of the SISP importance vary over time in an organisation and across industry?

7.What are companies doing to measure and communicate their SISP results?

8.Does measuring of SISP performance make a difference?

9.To what degree is contemporary metrics for measuring tangible and non-tangible SISP performance utilised?

Research Questions

Branding refers to as the process involving the creation of a unique name or image of a product in the mind of a consumer(s) which can be achieved through the use of advertising campaign with a consistency message. Branding has remained one of the most wanting options for the banking sector as the banking sector is perceived as a no new service providers. Branding can be used to help boost customers' loyalty, attitude change and trustworthy(Kapferer, 2012). This research project explores the branding importance, awareness and its effects on the Australian banking sector and the way ithelps foster the relationshipwith the society at large. The paper will focus on banking industry more specifically the Commonwealth Bank of Australia. It will review the available literature and compare it with the current happenings.One major question will be to identify whether branding contributed to the growth of Common wealth bank or there were other factors. Then, the knowledge gap will be identified and form the basis of the research work.

  1. To find out howcompetition affects the Australia banking sector
  2. To identify the extent of Commonwealth Bank of Australia brand awareness to the Australian society and its position in Australian or world banks.
  • To determine how branding affect the relationship between the Commonwealth Bank of Australian and the Australian people.

This project looks at the importance, awareness and the effects of branding in Commonwealth Bank of Australia which is the largest bank in the country. The project will involve the Commonwealth Bank of Australian and compare it with other banks that do little or no branding. The major limitation of this research is that internet may not provide with the sample population to participate in research. It will involve online literature sources to get the required information.The university should have added more time for the research so as to have enough time to analyze all the available literature. Time constraint is also the other limitation that may prevent the research fully covered. However, it should be noted that it is set to be completed at the end of the semester.

  1. Background literature

The Australian banking sector is one of the concentrated sectors and most profitable in the world. There are four biggest banks in Australia making fourof the eight worlds’ most profitable banks(Alexiou and Sofoklis, 2009). The banking sector in Australia today is in the state of unrest(Takáts and Tumbarello, 2009). With many changes happening every other day, six powerful forces continue to shape the current and future operations of the sector. These forces include the technology, changing demographics, consumer behavior, subdued global economy and Asia government(Takáts and Tumbarello, 2009). There is so much uncertainty in the industry concerning the pace at which the banking is changing, the culture and reputation, breadth and scale of strategic disruption(Wettenhall, 2011). This has led to the future outlook estimate and return expectation for the industry to be revised. The winner becomes the one embracing the ones who make their banks smaller but remain more connected with the customers. Here branding will be the most useful weapon for relevance.

  1. Parent literature

Degree of Maturity of SISP Implementation

Muchiri Rosemary Njeri 2013, from the University of Nairobi, did a related research project on the effects of CSR on brands performance in the Kenyan banking sector. It agrees that branding is as very essential in the banking sector which is perceived as providers of fixed services to position a bank in order to be singly identified and liked by customers. What her research does not answer is whether the already established banks require branding to position it further or not.

  1. Immediate literature
    • Competition within the Australian banking sector

Over the last 25 years banks have been attacked and verballed by ministers, every treasurer and prime minister saying awful things about them, threatening them, wept about them and cried but no change was experienced in them(Peter Strong 2010, P. 10).However, Lord Acton, 1875,submission 18, p 1,as reviewed by Barbara and Richard Wright, States that, Lord Acton is famously known to believe that power corrupts and absolute power corrupt absolutely. He believes bank issues has swept down the world and in centuries and will continue fought by people. Competition in banking sector is the cornerstone of efficiency and productivity in any market(Cali, 2012). It promotes fair prices, enhances living standards and ensures that scarce resources are allocated to their highest value uses” (Treasury,Submission102, p 1).

Fig1. A representation of bank loans provisions

The extent of banking sector competition in Australia, in recent times as examined by the Senate Economics Reference Committee in their two reports, found that there are only four banks dominating the market for the banking sector. These banks account for around ¾ of the market. This has been so as a result of merges which has taken place more than a century(Alexiou and Sofoklis, 2009). The result of the merger has been the long-run tendency of the increased banking industry in Australia. Temporal reduction in concentration was experienced in the early 1980s as there was a reflection to the entry of foreign banks as well as the conversion larger society buildings. This has been charged, however, by the current merger(Alexiou and Sofoklis, 2009). Today there is a concentrated international standard in the Australian banking sector. In 2007, over 150 financial institutions dominated the Australian mortgage market offering over 2000 home loan products services. By November 2010, there was a drop by 50 of financing institution offering less than 2000 products (NSW Business Chamber, Submission 84, p 5).

  • Intensity of competition

The hardest thing to quantify but very important is the extent of rivalry in banking sector. In recent times, National Bank of Australia has a stronger competitive position even though to specific products but raising questions on its sustainability(Wettenhall, 2011). Today, advertising occasionally could not be the most sufficient demonstration of deep-seated competition ethics.

  • Concentration test of the Australian banking sector

Best Practices in Measuring SISP Implementation

Market concentration in the Australian banking sector is dominated by only four major banks. They account for the largest home loan and three-quarters of deposits and assets. According to Peter Strong, 2010, P 12, “One would think that the market is quadropoly.” Banking sectors in Australia today have more service providers who are serving customers(Wettenhall, 2011). Australia owns 12 banks, 9 subsidiaries owned by foreigners, 35 branches of international banks, and over 100 credit unions.  Mortgage product providers are over 111 providing 2000 and over mortgage products. Credit cards service providers are providing over 420 different credit cards and are over 66 in number.

Fig 2. Showing the concentration test of Australian banking sector

  • The rise and rise of the big banking sectors  

The deregulation of the financial sector by the Hawke government, according to earlier Institute publication, A license to print money, is the reason why the big four banks thrived (Koetter et al. 2012).  From then the competition was pitted against them to date(Deininger and Byerlee, 2011). These banks to date, despite government support to the new market competitors to prevail in the market the effort has not neared governmentexpectation. During World War II banks dominated the credit market at 83% of all the loans and advances (Deininger and Byerlee, 2011). The banking market share fell down to 50% as a result of new regulations constraining the banks' behavior over all the time(Wettenhall, 2011). However, this was not by competition.

Fig.3. showing the rise of big banks in banking sector

3.2.1. The Effects of Corporate Social Responsibility on Brand Performance

The Commonwealth Bank of Australia, according to International Monetary Fund rankings of 2012, as reviewed by Levich et al. 2012, in the list of most profitable banks in the world ranked position 2 after Bank of Nova Scotia(Hawtrey, 2009). Australian banking sector is more concentrated than the US and UK. IMF also showed that big four Australian banks are four of the eight most profitable banks across the globe. They ranked second, third, fifth and eighth(Hawtrey, 2009). According to Johansson et al. 2012,as reviewed by Rosemary, 2013,today, environmental and societal factors are increasingly becoming important influencers of corporate strategies(Chang and Liu, 2009). The Executives decisions in businesses are currently faced with a complex strategic resource not only based on the outcome of the finances but a measure of societal and stakeholders’ new expectations. Werther & Chandler, 2010, state that, Corporate Social Responsibility (CSR) also referred to as corporate citizenship, responsible business, corporate social opportunity deals with the connection between the business and the society in which it exists(Poolthong and Mandhachitara, 2009). This concept requires that business take responsibility for impacting their activities to their customers, employees, suppliers, shareholders, communities and the environment they live. This means the business organization voluntarily take the initiative for improving the well-being of their internal stakeholders and those of the local community and the whole society.  

Applied Approaches for Successful SISP Plan Implementation

The brand is a key part of management and it goes beyond a name of the company. It is an important tool to evaluate the performance in general within an organization even though it is not a goal itself. Branding is able to create value for customers and increase revenues for the company only if brands and are successful only if they are able to intelligently and continuously evaluate themselves(Changand Liu, 2009). Financial pressure in banking sector continues to increase. As marketers are charged with brand sales increment they are also required to keep the cost under control. According to O, Cass & Ngo (2012), focusing on execution excellence improves brand performance.  In marketing, literature brand is used as a dependent variable (Ngoc and Uyen, 2015). Brand profitability performance and brand market performance are the two ways in which researchers brand performance. In the literature viewed by Rosemary 2013, the brand profitability performance is the financial share index of a brand in relation to the retailing profits. This is weighed using the profit and its margin. On the other hand, the market brand performance considers and evaluates the market demands indices like sale levels as well as market share.

To evaluate the brand performance according to Biedenbach and Marell, (2010), proposes some indices related to evaluating behaviors in the market. He notes market share, distribution and price are the indices of brand performance measurement by use of market share often provide a widespread and sensible reflection of the brand condition or its customers.He recognizes that distribution coverage greatly affects market share and sales related information.  Price elasticity, cost structure, market share, success in category extension, profitability, and price premium has also been considered indices of brand performance measurement(Keller and Brexendorf, 2017). Homburg et al. 2010,were concerned with relative price and market share as the performance outcome. Their definition stated that relative price is the ratio of a brand price to those of the competitors.Upamannyu et al. 2014, defined brand market share as the percentage of brand sales to total sales of all product brands.

A strong brand will sharpen your competitive edge as it will enable you to emotionally connect with your customers whether commercial enterprises or individuals (Albert et al. 2009).Your banks’ reputation matters more than your product or services. Apart from resonating well with the customer a strong brand also is recognizable. Once branded well it is easy for customers to choose you andhard for other banks to steal them from you.

SISP Objectives Accomplishment and Sustainability

A strong brand helps in building trust as trust is crucial when it connects with money issues. Strong brands are trustable by customers as having lower risk and higher value(Herington and Weaven, 2009).When customers start building trust in you the more strength you have in bargaining power potential partners and vendors(Keller and Brexendorf, 2017). Employees working with trusted brand increase their pride reduce turnover and assist you to attract top talent.

Strong brands speak to customers themselves as they have an established position. Customers and consumers feel confident in the brand(Albert et al. 2009).They relieve financial pressures in banks as banks are also businesses. Financial servicecompanies find pressure in trying to change tax policies, increase regulations, cut costs and find new revenue sources. With a strong brand, one can mitigatethese riskswith goodwill that boosts customer loyalty(Kapferer, 2012). A strong brand has strong bargaining power when there is a need for a merger and those who have weak branding have low bargaining power(Keller and Brexendorf, 2017).

  1. Knowledge gap

The paper will be finding out what effect does branding has brought to the Commonwealth Bank of Australia which is the second most profitable bank in the world. It will try to answer whether Commonwealth Bank of Australia needs branding anymore even as it is ranked position two as the most profitable in the world.

  1. Research question

Does branding have any importance to already established banks like Commonwealth Bank of Australia?  

Conclusion

This research paper will be focused on finding out whether established banks like Commonwealth Bank of Australia would need to further brand itself or not since it is already the second most profitable bank in the world. The review of the literature in this paper helps to find and compare the existing knowledge as well as find gaps in the research question. According to the existing knowledge it is argued in the literature review that, competition intensity may not be the best measurements for the market dominance.The existing knowledge lacks a proper explanation of the need for the branding of already established brand names like Commonwealth Bank of Australia. This paper will answer the question whether the already established companies require branding or not. Other points of concern for this project will be to find out whether branding has helped in fostering good relationship between the Commonwealth Bank of Australia and the Australian people, whether the growth and expansion of the bank has been enabled by the branding techniques. It should be noted that this research may face some challenges and time constraint as the university require the completion within a semester.  Also online sources may not provide with the with the target population used in answering interview questions.

Relevance and Validity of SISP Theory and Correlation among Implementation Factors

References

Albert, N., Merunka, D. and Valette-Florence, P., 2009. The feeling of love toward a brand: Concept and measurement. ACR North American Advances.

Alexiou, C. and Sofoklis, V., 2009. Determinants of bank profitability: Evidence from the Greek banking sector. Economic annals, 54(182), pp.93-118.

Biedenbach, G. and Martell, A., 2010. The impact of customer experience on brand equity in a business-to-business services setting. Journal of Brand Management, 17(6), pp.446-458.

Cali, J., 2012. Power Corrupts and Absolute Power Corrupts Absolutely. Bribery and Corruption Casebook: The View From Under the Table, pp.287-297.

Chang, H.H.,and Liu, Y.M., 2009. The impact of brand equity on brand preference and purchase intentions in the service industries.The Service Industries Journal, 29(12), pp.1687-1706.

Deininger, K. and Byerlee, D., 2011. The rise of large farms in land abundant countries: Do they have a future?.The World Bank.

Hawtrey, K., 2009. The global credit crisis: why have Australian banks been so remarkably resilient?.Agenda: A Journal of Policy Analysis and Reform, pp.95-114.

Herington, C. and Weaver, S., 2009. E-retailing by banks: e-service quality and its importance to customer satisfaction. European Journal of Marketing, 43(9/10), pp.1220-1231.

Homburg, C.,Klarmann, M. and Schmitt, J., 2010. Brand awareness in business markets: When is it related to firm performance?.International Journal of Research in Marketing, 27(3), pp.201-212.

Johansson, C., Möllefors, S. and Ibrahim, S., 2012. Managing negative publicity: A quantitative study on how negative publicity affects the consumer.

Kapferer, J.N., 2012. The new strategic brand management: Advanced insights and strategic thinking. Kogan page publishers.

Keller, K.L.,and Brexendorf, T.O., 2017. Measuring brand equity.HandbuchMarkenführung, pp.1-32.

Koetter, M., Kolari, J.W. and Spierdijk, L., 2012. Enjoying the quiet life under deregulation? Evidence from adjusted Lerner indices for US banks. Review of Economics and Statistics, 94(2), pp.462-480.

Levich et al. 2012Lovelock, C.,and Patterson, P., 2015.Services marketing.Pearson Australia.

McDonald, L.M. and Hung Lai, C., 2011. Impact of corporate social responsibility initiatives on O'cass, A. and Ngo, L.V., 2012.Creating superior customer value for B2B firms through supplier firm capabilities.Industrial Marketing Management, 41(1), pp.125-135.

Ngoc, K.M.,and Uyen, T.T., 2015. Factors affecting guest perceived service quality, product quality, and satisfaction–A study of luxury restaurants in Ho Chi Minh City, Vietnam. Journal of Advanced Management Science, 3(4).

Poolthong, Y. and Mandhachitara, R., 2009. Customer expectations of CSR perceived service quality and brand effect in Thai retail banking. International Journal of Bank Marketing, 27(6), pp.408-427.

Sheridan, N. and Jang, M.B., 2012. Bank capital adequacy in Australia (No. 12-25).International Monetary Fund.

Sturm, J.E. and Williams, B., 2009. Foreign bank efficiency in Australia: what makes a difference?.Managerial Finance, 35(2), pp.180-201.

Takáts, E. and Tumbarello, M.P., 2009. Australian Bank and Corporate Sector Vulnerabilities: An International Perspective (No. 9-223). International Monetary Fund.

Upamannyu, D.N.K., Gulati, C. and MATHUR, D.G., 2014. Effect of brand trust, the brand image on customer brand loyalty in FMCG sector at Gwalior region. IRMJCR.

WertherJr, W.B.,and Chandler, D., 2010. Strategic corporate social responsibility: Stakeholders in a global environment. Sage publications.

Wettenhall, R., 2011. Global financial crisis: the Australian experience in international perspective. Public Organization Review, 11(1), pp.77-91.

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