The Hong Kong and Shanghai Banking Corporation HSBC

HSBC aims to be acknowledged as the worlds leading international bank It has 89 million customers in 85 countries Focuses on four global businesses:

Retail Banking and Wealth Management Commercial Banking Global Banking and Markets Global Private Banking
HSBC initially was set up in Colombo, Sri Lanka on 1st July 1982 to facilitate trade finance with China Since then the entity has evolved as a full fledged bank that encompasses commercial and personal banking solutions for a diverse profile of clients One of the most profitable international banks in the country

CULTURE of HSBC
Due to the global presence of HSBC, the group offices in different countries reflects the essence of each sites unique official and non-official way of doing things (working conditions) HSBC encourages and appreciates inculcation of diversified cultures, beliefs and values from top management to clerical level As a pioneer world class banking service provider in Sri Lanka, HSBC is renown for Localized working culture with a coating of international flavor Highest level of Integrity, trustworthy and transparency Knowledge sharing and learning Open door and connected atmosphere Indiscriminate service offer (respect multi ethnic, multi cultural and multi religious sectors Influencer to high tech

Key Findings & Observations

Clear, strong and shared vision and culture nurtured strategic direction Open two way communication Team Orientation Centralized decision making Highly recognizable & differentiable People, Physical evidence, and Process mixes Declared priority on innovation Empowered frontline staff Corporate sustainability efforts

Effects and impacts of HSBC Culture Positive

Culture nurtured strategies have molded the bank to perform smoothly with less conflicts
Right person receives the right information at the right time, allows timely action Well balanced teams, clear roles and demarked boundaries leading to superior output Intangibility overcome through identifiable group standards to position above rest Unmatched latest services and products for customers

Negative

Negatives
Centralised decision consumes longer time approval Team culture might take away individual recognition Fear of local non urban customers to have relationship with

o HSBC group adhere the laws of the mother country and the laws of the country that a particular bank operate Eg: UK acts, Hong Kong acts and Sri Lanka acts(SLAML act)

oHSBC has utilized matrix organizational structure globally and in relevant country HSBC uses functional structure.

Change Management
Dynamic. Continuous changes Business goals -,short terrm Structural changes Idea generation (from micro and macro sources/environment town hall, lotus notes, Selection/screening of ideas by management Conveying the change to corp mgmt-dept heads-mgrs by regional heads Development of Training plan (online submission, materials Feedback and implementing method customized, aligned

Mass awareness at townhalls, lotus notes, intranet,

q&A FORUMimplementation (pilot .overnight, phase

Close monitoring, rectifications, and green light