Management In Hsbc Uk Plc Management Essay
Leadership is one of the complex roles in the corporate society, it is a complete connection of power and management .Leadership and Management are the two branches of one tree, where management is more related to goal or result driven practices and whereas the leadership is to take with the employment driven work. Therefore leadership and management both are requiring to give a company is effective foundation. Leadership is more of an individual power, whereas the management is to understand the requirements of the employees and get them satisfaction in achievements.
Leadership can be explained with few theories .in the following sections it will briefly described:
Transformational Theory (Leadership Style)
Transactional Theory (Management Style)
HSBC UK PLC is been very clear toward its way its treat its customer, owners and shareholders. The leadership in HSBC is not only providing stable environment for the employees but also for the communities .HSBC key principle is “key business value” The way the management work is to get and deliver the best. To expect and demand the best result from the employees.
The leadership in HSBC has four main pillars, which has not only made them very competitive but also highly motivated.
The four pillars of HSBC are following:
HSBC has a clear view of the outcome from the employee .HSBC UK PLC believe in high productivity through highly committed team. The team in HSBC will always be very productive ,loyal to the company and highly professional.Therfore the steps taken by the management and the team leaders are well supported by the team members and well appreciated it not only that they feel sense of achievement in their respective work.
HSBC has a transparent process for the team members to provide them support in the work by listening and then getting feedback from them. Thus through this leadership style there is an absolute increase the performance and day to day productivity.
In the following parts of the report it is the purpose to provide elaborate analysis of the factors affecting the leadership and management style in HSBC UK PLC.
ANALYSIS OF THE LEADERSHIP AND MANAGEMENT STYLES IN THE HSBC UK PLC
The time and the decade we living in right now is very fascinating as there is so much changing, when there is everything being asked for a reason, challenging environment. Where the long history of banks culture and ideas has been brought to the table and been re-think and turned.
Most of the issues are been co-related to the leadership style, there is a big relation between a company progress and the leadership style they adapt. At the moment HSBC is been facing so much challenges, where there is a huge uncertainties and great risk in everything. The current environment has so many challenges with European debt and future of euro fading.
There are largely necessary action has been taken by the HSBC to resolve things and to make it less volatile. These effect the key role of the leadership and management in HSBC ,with so many challenges comes every day to them, it’s hard for a leader in HSBC to make decision which will not only affects its position in market but also stockholders.
Currently the leadership style is to follow the mood of the public rather than taking a survey of them, they giving them what they like .The current situation is to play with the emotions with the public and hence getting the results .
They are few key things which a leader and management in HSBC UK PLC have particular influences:
FSA(Financial Service Authority)
The stockholders are been equally take care of and also the regulators has been given enough details of the operations. It has helped them to create equity and security for a disaster time, the key area of management in HSBC UK is to reduce the risk equality in each case. Where they can increase liquidity and decrease the toxic assets.
There are few hurdles also but with the right management and leadership going on it won’t be talk of the past soon. Though they are few points mentioning which included giving out more information to each staff, so that they can become more expertise about the field and can reduce risk and not to forget the important part is to check the stress of the employee with the HSBC UK history. It has always given priority to its employee though few more points like communication and transparency between the team is equally essential.
It has a become a primary goal of the leaders and management in HSBC UK to constrain the problems and deal it with more critical and suitable way. The objective has become more growth oriented and need adequate support of each employee.
CRITICAL EVALUATION OF LEADERSHIP AND MANAGEMENT IN HSBC UK PLC
HSBC UK PLC was first incorporated in England and wales in 1990 and its headquarter is here in London since 1993.The headquarters was in Hong Kong before till 1992 when it was forced to move out because of acquisition with in recent past it has acquired few acquisitions in china getting its few connection back. In the year 2002 it came up with a campaign which has USP with its all competitors “The world local bank”.
HSBC PLC has around 1000 branches throughout uk and also have presence in Ireland and wales.HSBC also is the first bank in uk to provide assistance in lending with Islamic law of sharia ,which doesn’t allow the bank to charge any interest which is called HSBC AMANAH .
During all these operation and function leaders and management has a critical role to play. They have to go through various factors. In this we are going to talk about the two factors:
In HSBC UK PLC it is been affected with the internal factors, which has employees, team leaders and the culture with the office. There are other factors too but as a leaders and management there are few specific factors which affects them.
These are the following elements:
Corporate culture within the office
CORPORATE CULTURE: In HSBC is move of value and beliefs that they want everyone to commit. As mentioned before the HSBC like to keep the best employee and treat them as family. The culture in HSBC is to support and understand the employee also to give them the opportunity to grow there carrier, they also have high rate modality in which performance is based on.
POLICIES: The leaders and managements makes sure that the policies been driven by the company are clearly symbolization of their culture. The management in HSBC has always made sure that there policies are very transparent and each and every product should be designed in such a way that it is very easy, understandable and fair for customers.
ETHICS: In HSBC the leaders take ethics way of controlling and stabilizing the bank values and beliefs. The leadership style is much more and everyone gets to say there ideas, They believe in brainstorming to get better results which will not only bring efficiency in the results but also marks the personality of the employee.
STRUCTURE : The structure in HSBC UK PLC is quite higharchial .The leader’s and management decides how much and what kind of information will be passed through the organisation and also determines the responsibility of each departments and there responsibility and who is responsible in making decisions .Though it has very horizontal structure. The management has always helps the employee to get better out in the competition of best or the survival of the fittest.
EXTERNAL ELEMENTS :
In HSBC UK PLC external elements are factors that influence the decisions of the leaders and managements in the bank. It also depends upon the success of their hard work.
External elements can be break down into following:
In HSBC UK PLC technology is the main stream to connect with customers also it helps them provide better service. The leaders in HSBC UK PLC has made sure they are always up to date with the technology .Therefore the customers can access to all services, the online banking systems with also password protected keypads is a great example of the technology used by HSBC UK PLC.
The HSBC UK PLC has grown so much in past years and it has so much more to do and to achieve that it also has to go through regulation, which are been govern by FSA .FSA has very very strict regulation and legal framework with which HSBC is been following through there is been news that in some of the countries there is been some illegal activities but for which HSBC has put up investigation on tithe HSBC UK PLC policies and terms has been drawn in taking government regulation in Banking.
Economy is also has a huge influence in HSBC UK Plc., the inflation, adverse effect worldwide has strong impact on the organistaion.The interest rate has great effect on UK, which also brings all uncertainties in the final outcomes of HSBC UK PLC results but with all these conditions HSBC UK PLC has to take all its competition from all banks, which at the moment HSBC UK PLC leaders and management has made good deal and produce very good results.
From the finding and analysis it can be concluded that leadership and management in HSBC UK PLC is most essential and strongest bond that has hold it in banking and financial organisation world. It has moved to all over to UK and operates a full service bank, with really effective and efficient leadership and quality managements the value and beliefs has been driven tremendously brilliant .The higharchy in the bank has also given a sense of satisfaction and feeling of loyalty toward the company. The employee has work very effectively and hence producing great result. The HSBC UK PLC has done their job very well in keeping company aims, vision, goals and objectives alive.
There is uniqueness in leadership and management in HSBC UK PLC that is they always think of future and they are very sustainable about their future here, starting from small to large business investments. Therefore with growing completion and challenges the HSBC leadership needs to be connected to the inside operation of the company. Eventually it will affect the outcome of the organisation.
It is also important for the leaders to manage more on employees by keeping them informed but also giving them more knowledge about global industry .By doing this the management will have more knowledge about their employee and can giving exact decision of what to be done for the employee to keep them motivated and satisfied and as mentioned above the culture will play a crucial part in defining efficiency of organisation. HSBC UK plc. is a garden of different beautiful culture ,if it not been passed orderly it could result in disaster .Therefore proper action should be taken that employee from the different culture are taken seriously. Hence the HSBC UK PLC will improve its position and sustainability.