Please find the attached file for the case of HSBC and please advise me about the case.
HSBC, a large global bank, had shifted its marketing and product offering policy from that of a leading commercial and business bank to become the "world's local bank" its advertising, promotion, its physical presence in a number of developed and developing countries and the diversity of its financial products to suit most clients have been a source of inspiration to most bankers and have proved to be a wealth generating platform for the bank and its shareholders.
The current global financial crisis which has affected most banks severely and has drained liquidity from the banks and other financial institution pose a problem to HSBC's global outreach programme to the extent that HSBC may find it hard to maintain its massive network of branches throughout the world at enormous costs. The HSBC board of directors are beginning to feel that the future lies, not in the massive expansion of branch networks and global operations, but in consolidating and growing the key profit centres which have high volume of financial business and higher net worth clients, targeting a lean and mean approach in its policy of expansion and driving profits.
Without taking 180 degree turn, the bank feels that it may be wise to take one key international centre of its operations and implement the change strategy in order to tests the viability of the bank's approach to tackling the potential financial risks of operating large networks of branches throughout the globe.
The bank has chosen HSBC Mumbai as the testing ground of its new plan and has decided to put in place the following changes to its operations in that centre:
1 Consolidates all HSBC operations currently carried out by branch networks in the state of Maharashtra at the HSBC Mumbai headquarters.
2 Carry out a detailed analysis of the scope of operations in terms of branch networks, client base, volume of transaction and profitability in all the branch networks and develop a strategy for closing down all branches and consolidating operations at the HSBC HQ in Mumbai.
3 Develop an organisational change strategy based on low investment and maximum impact policy which will insure that core competencies are kept while a rapid reduction in staff and payroll are effected.
4 Redefine the product offering, targeting high net worth and viable businesses while scaling down clients and loan portfolios at the lower end of the client base.
5 Undertake a focussed training and retraining of staff to meet the challenges of transition and re-position the bank as an energetic provider of services to commerce and industry.
6 Undertake a cost benefit analysis of the change in operations and management in the context of the external environment of competitors in the financial industry, the real time needs of clients at the lower end of the market and the political impact of this change.
7 Clearly identify and implement change process using the prosci model.
1 This assignment gives you a great deal of flexibility in the treatment, provided you keep within the frame work of change management principles and techniques. While an accurate analysis of HSBC Mumbai operations would be valuable, tolerable in accuracies related to specific number will not negatively impact on your assignment.
2 You need to follow all lectures as this assignment will be a reference points in all lectures.
3 You need together data on HSBC operations with focus on current HSBC India operations.
4 You need together data on HSBC operations.
5 You need to understand change management principles and techniques with relevant quotes from books and journals.
1 this assignment gives you a great deal of flexibility in the treatment, provided you keep within the frame work of change management principles and techniques. While an accurate analysis of HSBC Mumbai operations would be valuable, tolerable in accuracies related to specific number will not negatively impact on your assignment.
In December 2008 HSBC decided to cut 193 jobs in the Indian consumer assets business segment. This action of HSBC is in line with its policy to scale down clients and loan portfolios at the lower end of the market. In addition, it has redeployed 620 people that will be redeployed in low investment and high impact business. Restructuring consumer assets means HSBC will not extend consumer credit. HSBC will avoid giving loans for consumer credit.
2 you need to follow all lectures as this assignment will be a reference points in all lectures.
HSBC announced on 2nd March 2009 that it was closing its consumer lending business. HSBC has operations in 86 countries and operates from 9,500 offices and has worldwide assets of $2,527 billion. .
3 you need together data on HSBC operations with focus on current HSBC India operations.
4 you need together data on HSBC operations.
It was announced by the present CEO India operations that Nanina Lal Kidwai that the plans to set up a non-banking finance company will be postponed. The CEO said that even though the bank had applied to the regulator for permission/license, but have not yet received permission. HSBC Indian operations will not focus on insurance and ...
This answer provides you an excellent discussion on Managing Change in Organisation