Role of social media in handling a crisis situation: A case study of Commonwealth Bank of Australia (CBA)
Abstract
This research study explores how the Commonwealth Bank of Australia-CBA managed to respond to a recent online crisis caused by money laundering allegations levelled by AUSTRAC-Australian Transaction Reports and Analysis Centre. Employing the case study approach, this study has examined how CBA managed the crisis on social media. Findings suggested that media releases focused on five elements in crisis communication response i.e. acknowledgement and resolution of issue, reassurance of compliance and coordination, software error – cause of breaches, assurance of conveying information, and investment made in financial crime laws compliance. On the other hand, CBA’s responses on social media follow knowledge transfer and assimilation elements, but lack in knowledge acquisition.
RAS ID
26512
Document Type
Conference Proceeding
Date of Publication
2017
Location of the Work
Perth Western Australia
School
School of Business and Law / Graduate Research School / Markets and Services Research Centre (MASRC)
Copyright
free_to_read
Publisher
Edith Cowan University
Recommended Citation
Hussain, S., Ryan, M., Cripps, H., & Lambert, C. (2017). Role of social media in handling a crisis situation: A case study of Commonwealth Bank of Australia (CBA). Retrieved from https://ro.ecu.edu.au/ecuworkspost2013/4404
Comments
Hussain, S., Ryan, M., Cripps, H., & Lambert, C. (2017). Role of social media in handling a crisis situation: A case study of Commonwealth Bank of Australia (CBA). In Djajadikerta, H., Yong, J., Mat Roni, S., Ong, T., & Jogulu, U. (eds), Proceeding of 2nd Business Doctoral & Emerging Scholars Conference, Perth, pp. 98-103.
https://www.ecu.edu.au/__data/assets/pdf_file/0008/769886/2nd-Business-Doctoral-and-Emerging-Scholars-Conference_Proceedings.pdf