Hawaii International Conference on System Sciences MyAssignmenthelp

Question: Discuss about the Hawaii International Conference on System Sciences. Answer: Introduction: The Commonwealth Bank of Australia is one of the largest business companies in Australia. It was established in 1911 by the Australian government and later was listed in the Australian stock exchange market. However, it was then privatized by the same government in 1996 which still manages its operations to date. CBA is a multinational bank whose business operations spreads towards New Zealand, Fiji, Asia, USA and the UK (Commonwealth Bank of Australia, 2008). It also offers a good number of business services which are normally under the retail services, institutional and individual banking services, insurance services, investment and financial management services among others. With this in mind, the bank established a large number of branches or subsidiaries that operate under its management. E.g. the Commonwealth securities Limited (CommSec), Commonwealth Insurance Limited (CommInsure), ASB in New Zealand and Bankwest to name a few of them (commbank.com.au). Nevertheless, its headq uarters are situated at Darling Harbour, Sydney, Australia where its major and central operations take place. After its establishment, the bank has been growing and developing till today. Being listed as one of the largest business in Australia, its operations must be modernized as well as updated. Since the bank offers financial services, then it certainly must be using the modern and technologized accounting systems and packages to manage and control its business operations. It uses them to run the banking operations in all of its branches which has enabled it to be even more successful I its industry. The organizational structure of a business is the physical and logical organization of the business authority, powers, principles, laws, rules and regulations. In addition it also relates to the identification and implementation of the goals and objectives of the business with an aim of achieving them. Therefore, this means that the organization structure will relate to the employees, management team, products or services offered, strategies and techniques of performing business operations among other things (Baird et al, 2017). Therefore, the banks top management roles are performed by the board of commissioners who control, direct, organize and plan all the overall business processes and procedures. There are managers who work under this team of top managers by running the banks branches and other departments. However, the bank also a very large number of employees (around 45,000) that include financial analysts, sales teams, accountants, other managers, investment advisors to name just but a few. Additionally, it has many various organizational department or rather divisions whose purpose is to focus on customer needs and most importantly customer satisfaction. These activities include services like retail banking services, business and private banking services, international financial management, wealth management and safekeeping, institutional banking and marketing services among others. However, to be able to succeed in all of these business operations and activities, the bank has its mission, vision and values that they look forward to achieving. This structure seems to be a simple and clear structure which has helped the bank maintain its market and its business operations since its establishment to date. Also, it is the structure that has helped it become so successful to the extent of being listed as one of the topmost companies in Australia. Challenges in meeting market demand The bank operates in different locations within and without Australia; e.g. New Zealand, Fiji, Asia, USA, Sydney among others. Also, it offers a wide range of services which means that it has a very large market share and market segment in all its locations. For instance, it offers retail services, business and personal banking services, investment opportunities to name a few. This is a clear indication of how large its market and demand can really be. However, the company may be unable to reach the market demand especially in seasons when it is high. This challenge can cause a lot of damage for the bank especially in terms of revenue earned and customer satisfaction levels. The bank has a large number of subsidiaries in different locations and working under its management. This means that the communication process and process between the branches and the main bank headquarters must be effective and efficient. The structure should be flexible so that it can be able to adjust to location changes as well as the technological changes. However, poor communication is a challenge that is experienced by most large and rapidly growing business. Also it later causes organizational problems in general and therefore failure. The CBA subsidiaries have various departments or rather divisions which help the business run its various operations. This means that every department has its manager, human resource manager among others. Therefore, the process of employees reporting to different managers in different division may lead to conflicts between them when it comes to the overall reporting stage, i.e. to the top management team. Here there may be disagreements between the managers concerning different business aspects. This is a challenge that arises from structure like that of CBA bank. Most Likely Acquisition Method for CBA The most likely acquisition method for CBA is the ERP system methods. The Enterprise Resource Planning, ERP, is basically a software systems used to manage a businesss operations and activities and channel them towards the set objectives and goals of the business. For instance, it can manage and control the technological advancement, human resource operations are activities like hiring, firing, appraisals, retiring process, manufacturing and production operations among other things. This system is mostly applicable for large and well developed businesses therefore making it the best option for CBA bank. Apparently, it is a business that deals with offering a large number of services, managing a large number of employees, satisfying a large and wide market share and segment and most importantly managing a god number of branches or subsidiaries (Papadopoulos et al, 2017). Therefore, the implementation of this kind of software systems, it will be able to make its business operations eas y and management responsibility of the top managers and the other managers pretty simple and easy as well (Boehm et al, 2013). Also, it will be able to be updated on real time the progress of all the organizational departments and division as well as the performance of the overall bank operations. It is important for every business transaction to be recorded and documented for future reference as well as for evidence availability. Therefore, anyone who is to be involved in a sale process should ensure that the information recording and documentation is done correctly and effectively to avoid problems. This means that the customers, accountants and the bank tellers should be extremely cautious when dealing with the customers finances. In correct recording and documenting is a problem that occurs in many business that deal with finances like banks. This is in relation to bank account hacking and access by unauthorized personnel. Every business should ensure that its finances and other customer or business information is well and properly safeguarded and secured. This means that there should be security measurers installed and implemented in all the parts and stages of business transactions or operations. For instance, in the case of CBA bank, it should ensure that the customers have been checked and verified before they enter the bank, the employees given security accesses up to certain levels of clearances to prevent theft among other things. Lack of adequate product knowledge According to Khodakarami et al, 2014, the sellers of a product should ensure that they have enough knowledge about the product before they go to sell. This will help them convince the customer to purchase the product or service. The accounting software packages are used to monitor, evaluate and analyze a businesss financial statements reports and records. They help a business manage and control its finances in the best way possible. This is in relation to investment decisions, revenue allocation and spending procedures, expenditure decisions to name a few. In that case, CBS has certainly been using the modern and advanced accounting software systems to perform its operations. These systems have often proved to be of great help in businesses like banks and have certainly contributed to their success (Wixom et al, 2014). For instance, for CBA to be listed as one of the best and largest banks in Australia, it must be using such kind of software packages. These systems have helped the company manage its customer relations, finances, human resource department management but most importantly its financial status and finance spending (Rajaguru et al, 2013). Through the accounting software package, it is able to mon itor and manage its market share, service demand, manage its branches or subsidiaries among other things. In addition to that, it is able to account for its financial spending and budget for its future revenues through the help of the financial analysts. Therefore, having this in mind, it is clear how important and essential the accounting software packages are for a business like the CBA bank and how helpful they can also be. As for this kind of business and industry, having the best and most modernized accounting software can lead to better performance and therefore improved success levels. CBAs Current Market Size Just as mentioned earlier, the bank has a very large and wide market share and segment. Apparently, it offers a wide range of services like business and private banking, retail banking, international financial management, wealth management and safekeeping, institutional banking and marketing services to name a few of them. This shows that the business has a large number of customer variety who need satisfaction from different services. In addition to that, the bank operates in many town like New Zealand, Fiji, Sydney and Australia among others. Also it has a large number of subsidiaries like Bankwest, Commonwealth securities Limited (CommSec), Commonwealth Insurance Limited (CommInsure) and ASB (New Zealand) as some of its main branches and brands. The business has been listed as one of the largest banks in Australia which give it an opportunity to be popular as well as famous. This is an additional aspect that increases its market share and market segment in the banking industry. Al so, just as mentioned earlier it is multinational business which means that it operates in many other countries outside Australia; e.g. in United Kingdom, Asia and USA. Through this, it increases its market shares even to a wider range. CBA has been rated very highly by its customers as well as by the economic status analysts in the country which means that it offers very good and quality services. Since the company is rated as one of the best banks in Australia, its closes competitors in the industry are its fellow big four banks, which are the Westpac, NAB and ANZ banks (Commonwealth Bank of Australia, 2008). The CBA and all these banks offer almost the exact same quality and type of banking services to their customers. However, being listed as one of the top four banks in the country, then they have to have a certain aspect that gives each of them a competitive advantage. Therefore, for the case of the NAB, the company has been rated higher than CBA on some aspects which gives it a competitive advantage on that aspect, i.e. the fact that they operate in more locations and have more subsidiaries than CBA. Also, those other banks have a wider variety of services that they offer to their customers which also gives t hem competitive advantage over CBA. Challenges Facing Accounting Software Users Lack of technical support e.g. electricity and enough computers or equipment. Lack of experience and expertise required for the system operation. Lack of advanced technological support to assist them especially when it comes to speed of the software packages. Recommendations CBA should ensure effective and efficient training is conducted to teach the users how the systems should be operated. CBA should ensure that all the support needed for the systems to be functional are available and enough. The bank should be able to upgrade the systems frequently to ensure that they are fast, effective and efficient. References Aoki, M., 2013. Monitoring characteristics of the main bank system: An analytical and development view.Chapters, pp.342-374. Garvey, W.D., 2014.Communication: the essence of science: facilitating information exchange among librarians, scientists, engineers and students. Elsevier. Missimer, M., Robrt, K.H. and Broman, G., 2017. 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