Case Study Of HSBC
INTRODUCTION
1.0 HSBC background.
HSBC initial name is Hong Kong and Shanghai Banking Corporation. It is first business opened in Hong Kong. The company has been established during March 1865 to finance trade between Asia and the West. For more than 150 years experiences has created the character of HSBC which is they hold in capita strength, in strict cost control and to create a mutual relationship with their customers. In addition, the company has survived at all risks of the 21st century challenges as to achieved the corporate character.
Moreover, HSBC is one of the world’s largest banking and financial services company that serving around 48 million customers. This is included their four Global Businesses which are Retail Banking and
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In addition, the group headquarters is located in London meanwhile its holding is incorporated in England and the Wales. The company really put forward the Corporate Social Responsibility (CSR) as one of their main objectives to become the ‘The World’s Local Bank’.
As the summary from this case study, HSBC is truly has it owns competitive advantage. CSR initiatives at HSBC is by putting up the strategic thrust, translating CSR into Action within the Organization, and investing in education, nature and people and to recruit new employees in the third world countries. (http://www.icmrindia.org/casestudies/catalogue/Business%20Ethics/BECG049.htm)
The company has published their own first Environmental Policy in 1997. Later in the year 2003, the company defined CSR as addressing the expectations of customers, shareholders, employees, and other stake-holders in managing business responsibility and sensitively for long term success. Plus, HSBC stands by their own believed that multinational enterprises must have responsibility toward social, ethical and environmental issues to have a sustainable business in
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Whereas in defining corporate social responsibility, Kotler and Lee (2011) stated that corporate social responsibility is a commitment to improve community well-being through discretionary business practices and contributions of corporate practices. Hence, this explains that strategic planning and corporate social responsibility is correlated with one another and by this reason, any issue that arose in the corporate social responsibility of a company need to be solved by way of formulating a strategic plan and execute it. But how the issues are incorporated in the strategic planning and being executed by the company, for instance, in this discussion, the
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