HR Strategy for HSBC Essay Example | Topics and Well Written Essays - 3000 words

HR Strategy for HSBC - Essay Example This paper aims to provide an overview of the business strategy of HSBC Holdings plc and to develop the HR strategy that will fit the new company’s strategy. HSBC retail banking segment targets premium market, focusing on customers with medium to high incomes. Thus, the company is capable to earn good profits and to minimize risks associated with high-risk borrowings (Uvais, 2015). Recently, the company has updated its business strategy aiming to be â€Å"where the growth is, connecting customers to opportunities† (Hsbc.com, 2015). HSBC introduced a two-part strategy comprised of the following two elements: (1) a network of businesses connecting the world, and (2) wealth management and retail with local scale (Hsbc.com, 2015). Therefore, on the one hand, the company aims to achieve global reach and develop its business operations in the international arena, achieving thus economies of scales, and on the other hand, it aims to capture opportunities in wealth management and retail markets with a focus made on growth markets (Hsbc.com, 2015). Strategically, the company aims to expand its business in Asia, North Africa, and the Middle East as the markets with huge potential. Currently, the HSBC is restructuring its operations worldwide and in the UK. The company aims to improve its profitability and to reduce costs. In order to achieve this goal, the management is planning to cut the number of jobs significantly in the UK and across the globe. According to the most recent information, the company has introduced a cost-cutting strategy whereas its management aims to cut costs by $4.5 billion ( £3 billion) to $5 billion ( £3.3 billion) a year by 2017 (ITV News, 2015). However, in order to dampen the overall effect of this cost-cutting strategy, the company also has a plan to create more than 2000 new positions (Uvais, 2015).  

How are Accolades Distributed Essay Example | Topics and Well Written Essays - 2250 words

How are Accolades Distributed - Essay Example Therefore, accolades are important for organizations and the process by which they are distributed becomes an important consideration for any person connected with the fields of management, service provision and even psychology and sociology. Essentially, there are two primary methods by which accolades can be distributed in an industry which focuses on services. The first method is to obtain accolades from the governing body of the industry if there is one and the second is to obtain a quality of service measure from a reviewing body which exists to help the consumers (Clark and Johnston, 2005). In both cases, the decision to give the accolade belongs to external forces and there is no direct link between the users of the service and those who receive the award. In certain situations, if managed carefully, a company can award itself an accolade and even manage to fool many people into thinking that such an accolade has been given to them by a respected authority. For example, a company may say that their service is rated at seven stars but there may be no official body or even a consumer group which rates their service at seven stars. The best example of such a technique comes from the hotel industry itself where certain hotels in the world have claimed themselves to be rated at seven stars while international hotel ranking groups have no rating higher than five. Rudd (2007, Pg. 1) reports that â€Å"There’s no such thing as a seven-star category. The Burj Al Arab in Dubai and the Emirates Palace in Abu Dhabi might claim to be seven-star, but that’s their own interpretation, measured presumably by how much gold and marble you can squeeze into one building†.