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Commonwealth Bank analysis
Introduction
The report explains out the commonwealth bank institutional theory practices as well as practice of stakeholder theory. The report takes into account the leadership practices of the organization as well as its culture to support institutional theory practice as well as stakeholder theory practice. The report also takes into account the criticism faced by the commonwealth bank for its institutional and stakeholder theory practices.
Overview of the commonwealth bank
The bank was established in the year of 1912. Its shareholders are real owners and company has more than 1350 business
anches. It offers 4950 ATM centres. The profits earned by the company have also soared high. Company has posted a 4.62 billion dollars benefit in the year of 2015. It is identified as the second largest bank in Australia. The banking operation of the bank consists of Asia, United Kingdom and New Zealand as well. The bank offers multiple services such as business banking, fund management, insurance, superannuation services as well as
okering services investment. The mission of company reflects offering an unparallel service to the customers and exceptional benefit to the shareholders. The company is known for its excellent services and customized solutions to the customers. It offers products through multi distribution network. Bank has robust strategy to create values such integrity and trust. It has recognised for its exemplary leadership practices. These facts are explored in detail in coming section.
Literature review
To analyse the commonwealth bank, institutional theory has been taken in consideration. The institutional theory has been concerned with stability factor. The theory looks into the resilient and deeper aspects of the social structure and takes into consideration about schemas, norms, rules and routines (Scott, & Richard, 2004). It serves as an authoritative guideline for people to behave. The elements of the theory such as creation, distribution, adoption and adaption over time and space are prominent factor of this theory.
The commonwealth bank is analysed in terms of institutionalization, deinstitutionalization, and reinstitutionalization. The institutionalization is a kind of process through which the institution attains the durable and stable state. Deinstitutionalization refers to a process through which the established practice legitimacy discontinues or erodes. The reinstitutionalization refers to exit from one form of institutionalization towards another institutionalization form (Saebo, 2017).
As far as the stakeholder theory is concerned, it reflects taking care of needs of all stakeholders such as employees, suppliers, distributors, customers, government, investors, society at large and environment. The definition of stakeholder theory suggests to take care of those people who are being affected by the activities of any organization aims to create value and trade.
The stakeholder theory is used for approach building towards environmental, social and sustainability management research (Montiel, & Delgado-Ceballos, 2014). The stakeholder theory provides a starting point for consideration of sustainable development and corporate sustainability. (Doh & Guay, 2006; Kolk &Pinkse, 2007; Perez-Batres, Doh, Miller & Pisani, 2012).
Therefore, the application of the...