HSBC Group: The World's Largest Banking And Financial Services Organization

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HSBC COMPANY HISTORY HSBC Group is the one of the largest banking and financial services organisation in the world. HSBC established businesses in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. HSBC incorporated in England and Wales in 1990, and headquartered in London since 1993. There is no single geographical area (China) dominates the group's earnings bu Hong Kong still continues to be a significant source of the income. In 2009, HSBC is named as the world's largest banking group and the world's 6th largest company according to Forbes magazine. HSBC introduce itself as 'The world's local bank'. Its total asset are valued at £660 billion and has $3,541 million net income. It has over 9,800 offices worldwide…show more content…
STRATEGIES Between 1946 and 2003, HSBC used acquisition-based strategy. And since 2003, their strategy is based on managing for growth business. The new strategy focused on driving organic revenue growth especially in the Emerging Markets, and continued cost containment. Today, this focus on Emerging Markets creates a need for leaders who understand both local business context and global strategy. From an organizational development perspective, one way to achieve continuity around core values and create global alignment with business strategy is to fully leverage human capital within the organization. 4Ps HSBC’s products include; generic cards, co-branded affinity cards, and private label cards. Their places are retail stores, restaurants, shopping stores, and e-commerce channels. Their prices are classified as classic, gold, premier, and platinium. Their promotions include credit card, loans, insurance & investment promotions and…show more content…
Because it offers better, cheaper and newer products and services. In order to overcome the industry rivals it incorporates the customer-benefit approach and product-class approach. HSBC’s major competitors are Citibank credit card, Standard chartered credit card, SBI credit card and Axis Bank credit card. SWOT Strengths ; it is well-capitalised, profitable from issue credit card, it has the awareness to customer. In addition, it has partners from Hong Kong merchants and has international financing. Weaknesess; HSBC associates itself strongly with investment in the small business sector, but the current economic situation has led to increased risks. It was involved with sub-prime markets in the US and has had to write off large figures lent to high-risk borrowers. HSBC has increased its mortgage rates , although there is deduction on interest rate in UK. This might be perceived negatively by borrowers, and borrowers might struggle with higher repayments. Opportunities; may be joint ventures, mergers and acquisitions or recovery from the global reccession. Threats; may be global recession, political, legal and regulatory uncertainty and advancement in

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