Culture is the precious thing in countries. Culture plays a vital role for people. Culture influence people live significantly in various ways, it is important for the businesses in order to utilise culture as main tools for development for the company which makes impacts on the performance. Cross-culture is the essential thing for the business which helps organisations to view various cultural learn, managing development strategies in order to handle cross-cultural issues.
The case study is related to the commonwealth bank of Australia. This is about commonwealth bank Australia for cross-cultural management. Commonwealth Bank of Australia is the Australian multinational bank for the businesses across New Zealand, Asia, US, UK etc. it was founded in 2011, headquarter situated in Australia. The employees are working in the bank are 45585 in 2020, the total assets for the bank are A$ 1014.06 billion in 2020. Commonwealth Bank Australia is leading bank in the country Australia which has been successful for expanding its business, not for only Australia, it did businesses across the world. This is where the aspect of cross-culture management has important for the company. The study is about to take the opportunity for the cross-culture issues, their impacts for organisational performance, the recommendation for handle these issues.
(Illustration 1: Commonwealth bank Australia)
ISSUES
- The commonwealth bank Australia for cross-cultural management.
- The cross-culture for international businesses.
SOLUTION
Presentation culture is the definitive lifestyle. Culture is related to the significant job in life for people. Culture makes impact for the people groups which lives lives in various ways. Culture describes as the standards, convictions, qualities etc. culture is creates when the gathering are group same convictions are meets. Work environment, culture have solid better relationship. District bank works in various societies, subsequently it is important for the association in order to various culture has various issues which makes impact for business (Commonwealth Bank Australia, 2021). Diverse profound are noticeable for the various nations. The organisations apply hoftsedes social measurement has the comprehend the cultural diverse contrasts for the various social orders. Cultural diverse administration isn't powerful for remote development for the businesses yet it additionally serves for adequately overview bunches inside the association itself for the objective they well performs for the association. The federal banks actualises the model for cultural dimensions which encourages the association in order to outline their multifaceted need methodology. The idea for Hofstede are extremely clear for it attempts in order to comprehend the social distinction dependent for the various properties. The Greet Hofstedes model has six unique traits. This is procedure for correlation which the chiefs of the commonwealth bank apply in order to increase reasonable bits for knowledge for the distinctive social contrasts which confronts for the association. The personal satisfaction which helps for the supervisors of commonwealth bank for execute the appropriate methodologies in order to deal for the employees. It helps for creating salary framework. Cultural diverse issues for common wealth bank Australia, there are various cultural various issues which makes impact for business development. The commonwealth bank it is important that cultural diverse issues which are tended appropriately. The fundamentally cultural issues which organisation needs for confront during business association. The cultures for standard nations Russia, China individuals are reluctant talk for the organisation commonwealth bank which leads to totally English talking nations. The cultural issue which commonwealth bank faces is board issue. The portion for its worldwide locales are the organisations has places directors for the Australia.
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The commonwealth banks confronted for the issues with the ostracise chiefs which are working in China, India as people who are raises with the various culture. The commonwealth banks for Australia has fruitful for the businesses inside the country which efficiently works together abroad. The globalisation makes when the various cultures increased more extensive enthusiasm for the businesses for the multifaceted administration are views for the businesses. It is important for the multinational companies in order to handle the cultural issues, identify the solution which better for the business. The bank business branches includes financial planning, retail banking, commissure etc. The study is about Australia common wealth bank faces various issues for the cross culture management as it maintains its business across the world. The company should train its employees for its activities which are maintains in various countries. The information should transfers efficiently for the better performance, reduces issues, higher profitability.
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Issues related to the cross culture can be solved by the Australian bank by learning the different cultures which helps in solving the issue as by understanding the culture of the different places we get to know about the customs and religions. By sharing the knowledge, views and opinion we can connect with the people in an proper manner so that in future good relationship with the employees and customer will build easily. Treating the employees equal helps in boosting up the morale of the employees and they will perform better in the organisation and increase productivity.
From the above case study I recommend that company should gives training to its employees which helps them dealing for international businesses for the higher profitability.
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