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HSBC: The World's Local Bank. Company Profile and Environmental Analysis - Essay Example

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HSBC: The World’s Local Bank Company Profile and Environmental Analysis I. Introduction The success and failure of a business is largely dependent upon implementation of strategies, that in most cases, are aligned with its mission and vision. What brings about the challenges, and make circumstances more complicated is the environment in which it operates…
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HSBC: The Worlds Local Bank. Company Profile and Environmental Analysis
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"HSBC: The World's Local Bank. Company Profile and Environmental Analysis"

Download file to see previous pages Rather, the environment, as though in an ecological system, is the source of all elements players need to survive; only that, some of these elements will have to be fought over. Hong Kong and Shanghai Banking Corporation, or popularly known as HSBC, claims to be the ‘world’s local bank’, reflecting an organization which is “global in reach and highly localized in operation” (Beckford, 1998, p. 158). The efficacy of this trademark is evident in this business’ present status; HSBC is now one of the “largest banking and financial services organizations in the world”, with about “7,500 offices in 87 countries and territories in Europe, Asia-Pacific region, the Americas, the Middle East, and Africa” (HSBC Global Site, 2011). Of course, it will violate the ethical standards, if all contenders in the industry will follow the same approach. Thus, the rise of popular phrases like ‘The whole world in one bank’ by CitiBank, ‘Get the Abbey habit’ by Abbey National, and ‘Fluent in finance’ by Barclays Bank, etc. These banks mentioned get ahead of the competition, and provide solutions to the specific needs of their clients employing their own style of conducting business. Globalization has eradicated a number of trade barriers and paved the way for investment overseas (Facts on File, Inc. 2002); therefore, it is safe to say that HSBC and its counterparts form part of one environment, which is the global environment. In other words, with the same nature of opportunities available in a certain industry, staying on the road uphill is up to the players themselves. In the following topics, we will examine closely the underlying reasons to HSBC’s enduring success. II. Mission, Goals, and Objectives All formal organizations have a mission and vision to direct their strategies to. In its absence, there is no constancy in performance goals. In addition, policies are formulated according to the principles considered as crucial to the realization of their objectives. All these work together to define the character of a company, and what it will be in the future. HSBC PLC has the following missions: “to lead in their chosen market; deliver an outstanding client experience based on excellence in sales, service and solutions; achieve a superior, ethically based, long-term return of the shareholders; build highly motivated, high-performance teams; and create a challenging, rewarding and fun work environment” (HSBC, 2011). It is typical among businesses to desire control of the largest portion of a particular market; hence, the efforts to develop products and services in a manner that meets, or if possible exceed, client expectations. From the list, it can be observed that HSBC takes into account all that contributes to the turn of their operations: the clients, shareholders, management, and employees. It seems that HSBC holds on not only to profit, but also to the interests of every individual involved, whether directly or indirectly. Further to mission and vision, HSBC base its conduct of business on five core principles: “outstanding customer service; effective and efficient operations; strong capital and liquidity; conservative lending policy; and strict expense discipline” (HSBC, 2011). Consequently, HSBC now serves around 100 million customers worldwide through a range of financial services to include personal financial services, ...Download file to see next pagesRead More
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