Commonwealth Bank Macro Environment

Business Introduction:

The Commonwealth Bank was founded under the Commonwealth Bank Act in 1911 and commenced operations in 1912, empowered to conduct both savings and general banking business. The Commonwealth Bank of Australia is currently Australia's leading provider of integrated financial services and the most recognised brand in the Australian financial services industry.

Its financial services include retail, premium, business and institutional banking, funds management, superannuation, insurance, investment and share-broking products and services.

The business’s approximate evaluation taking into consideration various factors comes down to a valuation range between 30 to 40 billion dollars. CBA made a total income during 2013-14 of $43.15 billion. Analysts provide the CBA's profits for the year to June will be $9.48 billion, an increase of 3.7 per cent compared to 2015. The CBA’S net profit after tax for the year ended on the 30th of June 2016 was evident to have an increase by 3% on the prior

Macro Environment Factors

Businesses are required to take into consideration a variety of factors from the external (macro and operating) and internal environments when planning a business. The factors taken into consideration are essential and are outside the control of a business, and thus businesses such as the Commonwealth Bank of Australia need to be able to respond to them effectively and take into consideration when planning.

Legal Requirements:

When planning a business there is a range of legal requirements that are mandatory to take into consideration. At a macro environment level, a business owner must consider a range of factors, such as taxation arrangements, any licenses or permits required, occupational health and safety (OH&S) laws, trading laws, environment protection laws and privacy