Commonwealth Bank of Australia – SWOT Analysis
Commonwealth Bank of Australia – Strengths
Strength – Commonwealth Bank Brand
Commonwealth Bank brand is the most recognised brand in Australian financial services industry. It is a brand that has evolved over its 102 years of operation with a strong brand history. Commonwealth Bank brand is highly regarded and trusted within the Australian financial services industry. Other well known brands under the Commonwealth Bank Group includes Colonial First State, CommInsure, ASB (New Zealand), Sovereign, FirstChoice, CommSec, and Bankwest.
Strength – Scale
Commonwealth Bank has a strong presence in Australian financial services industry and has the largest customer base of any …show more content…
Commonwealth bank competes with foreign banks, building societies, mutual banks and smaller regional banks. Growing innovation and technological advancements has lead to increased emergence of new competitors and competition within the Australian banking and financial services sector.
Threats – Government Regulations
New government regulations there have made it easier and cheaper for customers to change banks. For example, banks in Australia are no longer able to charge early exit fees such as deferred establishment fees on mortgage and personal loans due introduction of new regulation in early 2011.
Competitive Advantage of Commonwealth Bank of Australia
Maximising long-term value for its customers, shareholders and its employees is the organisation’s main strategic priority. Commonwealth bank’s strategy is to create long- term value and maintaining competitive advantage by differentiating itself from its competitors.
The organisation’s goal is to achieve long-term value for its customers, shareholders and its employees through domestic and growth outside of Australia.
Given the Commonwealth Bank Group’s franchise position, the organisation aims to capture the opportunity to generate growth domestically and outside of Australia by identifying and meeting more of the needs of its customers.
In April 2012, as part of its
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