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International Business Context: Common Wealth

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Question:

Discuss about the International Business Context for Common Wealth.

 

Answer:

The Common Wealth of Australia is known for providing sufficient financial support. The service of the Common Wealth of Australia includes financial service, business, retail banking and institutional banking. It has been founded by the government of Australia in 1911. It is known as the leading business organization of Australia that provides efficient service to the across New Zealand, Fiji, Asia and USA. Headquarter is situated in Sydney (Commbank.com.au, 2017).

The following article has discussed about government’s role in international business of Common Wealth Bank of Australia.

The Common Wealth Bank of Australia is owned by Australian government. The bank provides its services to various parts of the world, such as- New Zealand, Fiji, USA and Singapore. It is often evident that several business organizations are trying to put a strong impact on the global market by their efficient and quality service. In this competitive era, it has become very important for every business organization to defeat its rival companies and survive in the competition (Schlagwein, Thorogood and Willcocks 2014). The government of Australia has always incorporated new and efficient strategies to influence the growth of the organization. It provides efficient support to the bank by its flexible and transparent policies. The bank provides a wide range of insurance policies which attracts several customers from various parts of the world. Due to flexible government rule the organization has put a strong foot print in the global market. The development of the Common Wealth Bank of Australia is highly dependent on the government policy (Murray et al. 2014).

 

Government of Australia has influenced the growth of the organization by its business rules and financial infrastructure. Due to have a strong financial infrastructure, the business organizations of Australia are able to embrace new and efficient techniques to influence the growth of the organization. Any business organization requires sufficient support from its local government to establish a strong organizational structure. Due to have a strong and transparent business rule the, government of Australia is responsible for the growth of the common wealth bank of Australia in the local as well as international market to some extent. The organization is capable of maintain healthy and transparent relation with the employees and its consumers due to effective government policies. It encourages the organizational management to provide quality and effective service to its consumers and introduce effective strategies to inporve the organizational performance (Hasan  and Xie 2013).

As per the previous discussion, it can be stated that government plays a crucial role in the development Common Wealth Bank of India. Government has provided all kind of required support by its transparent and effective policy to influence the growth of the organization. Due to have complete support from the Australian government, Common Wealth Bank of Australia has set an example in the national as well as in the global market. 

 

Reference:

Commbank.com.au.(2017). commbank.com.au. [online]

Available at: https://www.commbank.com.au [Accessed 17 May 2017].

Hasan, I. and Xie, R., 2013. Foreign bank entry and bank corporate governance in China. Emerging Markets Finance and Trade, 49(2), pp.4-18.

Murray, D., Davis, K., Dunn, C., Hewson, C. and McNamee, B., 2014. Financial system inquiry: final report.

Schlagwein, D., Thorogood, A. and Willcocks, L.P., 2014. How commonwealth bank of Australia gained benefits using a standards-based, multi-provider cloud model. MIS Quarterly Executive, 13(4), pp.209-222.v

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