Business Transformation and Change

Running Head: BUSINESS TRANSFORMATION AND CHANGE
HSBC
Business transformation and change
Report
Student name
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BUSINESS TRANSFORMATION AND CHANGE
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Executive summary
Report is all about the changes which have been implemented in Hong Kong and Shanghai
Banking Corporation. In addition, this report is also covering the impact of new changes
implement in the organization in order to expand their business operations. It also includes
possible suggestion which can improve the present situation of the organization which is
suffering from negative phases. Advantages and disadvantages associated with organization
strategy are also covered in this report.

BUSINESS TRANSFORMATION AND CHANGE
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Table of Contents
Introduction.................................................................................................................... 3
Nature and drive of change management process......................................................................3
Initial corporate culture of HBSC and cultural web model...........................................................4
Stores........................................................................................................................... 5
Rituals and Routines......................................................................................................... 5
Symbols........................................................................................................................ 5
Organization structure....................................................................................................... 5
Control system................................................................................................................ 6
Power Structures.............................................................................................................. 6
Overcome resistance......................................................................................................... 6
Key performance indicators................................................................................................ 7
Conclusion..................................................................................................................... 7

BUSINESS TRANSFORMATION AND CHANGE
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Introduction
This report is focused on change implemented in Hong Kong and Shanghai Banking
Corporation. This institute is also considered as one of the biggest financial institutes on the
global level. This organization was very successful in expanding its business not only in the
native country but also in other countries. This company is in the business of offering financial
services to the potential customers. This report also focuses on the change which this
organization has gone through (Bloomberg, 2019). It is also focused on managing value strategy
in which organization is trying to expand their business all over the world. In addition to this,
this report is also covering advantage and disadvantage related to change strategies. It also
includes possible recommendation in order to improve the present situation.
Nature and drive of change management process
HSBC has been gone through significant changes right form economic recession to various
market trends as well as technology. But at the same time, this change has impacted the
performance and moral support of the employees. In this situation, organization has introduced a
new strategy in the form of MFV which is also known as managing for value in order to exploit
the global market.
In HSBC organization change management will be supported with the few driving factors which
are work environment, management support, offering flexibility related to work. In this process,
HSBC organization has focused on their interest in increasing customer base in order to realign
the value proportion connected with the shareholders of the organization as compared to their
competitors (Hornstein, 2015). In addition to this, this strategy was also linked with engaging
employees with the customer. They have also included socio-psychological revisions and
valuations. Though employees were not happy by this change in the organization and therefore it
created a negative attitude towards organizational culture. The management of HSBC developed
a reinforce strategy in which they have used four-step model. First step was identifying the
attitude of employees towards this strategy (Erb et al., 2017). In this, management tried to
explore the basic emotions of employees related to this MFC change. Second step was
introducing important aspects such as MFC in the daily work of the employees so that MFC will