A model of the new HSBC culture with key strengths identified

This article presents a model of the new HSBC culture and identifies its key strengths. The model covers various aspects of the organizational culture, including myths and stories, symbols and suspects, power structure, organization, control system, and rites and routines. The article discusses how HSBC's culture has evolved and the challenges it has faced in maintaining its creative edge and leadership in the industry. References are provided for further reading.

Running head: BUSINESS TRANSFORMATION AND CHANGE
Business transformation and change
Name of the Student
Name of the University
Author Note

1BUSINESS TRANSFORMATION AND CHANGE
A model of the new HSBC culture with key strengths identified
It has been identified that the bank HSBC exists to serve its consumers and it effectively
understands the responsibility which comes with looking after other people’s money. Tolk et
al. (2010) mentioned that organizational values of HSBC remain at the heart of this culture.
However, the overall organizational culture and its strengths has been evaluated with the
following model given in the following.
Figure 1: Defining and Mapping Organizational Culture of HSBC
The above circle of culture is developed on the basis of the existing culture of HSBC which
covers the entire internal and external functions of the organization. For example, one of the
circle is Myths and Stories, which further consists of several other sub-elements such as
grand old dame and several other elements (Glisby and Holden 2011). This basically
organization’s folklore which passes on general perception of the past event and reinforce
beliefs and then pass them on to newcomers. It has been identified that HSBC due to market
dynamics and the entry of new competitors in the sector it had to lose its creative edge. In
Myths and
Stories
Symbol and
Suspects
Rites and
Routines
Control
System
Organizatio
n
Power
Structure
Paradigm

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addition to this, due to entry rivals in the sector, the firm was not able to develop a long-term
established clients.
Symbol and suspects: This circle is about how the brand is equipped to develop
professional creative employees for generating a unique of quality of services. When the
internal resources of HSBC is strengthened enough, branding strategies help the firm to
become the industry leader in the sector (Saha and Nesa 2011).
Power Structure: This circle particularly specifies how the brand is able to lead the
overall operation of the organization but running a global operation is often challenging;
thereby it can be added that lack of adequate leadership and direction was the major
challenge for HSBC. However, global skills and talents of the workforce of the organization
effectively resolved this barrier.
Organization: This is an overall HSBC’s operational view along with organizational
structure. It has been identified that HSBC develops its operation under a flat organizational
structure with its highly developed workforce and professional talents.
Control system: This circle defines the overall control over the operation but weak
senior management of HSBC is one its significant challenge in the control system. It has been
identified that overall team faces a significant gap of communication among the members,
which requires proper guidance (Russell and Clark 2009). HSBC should develop a
communication framework, in which both leaders and employees can communicate in an
open style which requires no further layers.
Rites and Routine: This circle is about a broad focus on organizational culture which is
about the focus on money not only creativity. This is certain because a financial institute
should be leaned on money; HSBC is determined to build an inward self-focus culture.

3BUSINESS TRANSFORMATION AND CHANGE
References
Glisby, M. and Holden, N.J., 2011. Mastering tacit corridors for competitive advantage:
Cross‐cultural knowledge creation and sharing at four international firms. Global Business
and Organizational Excellence, 30(5), pp.64-77.
Russell, A. and Clark, M., 2009, August. Modeling Human, Social, Cultural or Behavioral
Events for Real World Applications: Results and Implications from the State Stability
Project. In 2009 International Conference on Computational Science and Engineering (Vol.
4, pp. 683-690). IEEE.
Saha, S. and Nesa, Z., 2011. Measuring service quality: a comparative assessment based on
customer service of HSBC and DBBL. Journal of Banking & Financial Services, 5(1),
pp.111-127.
Tolk, A., Huiskamp, W., Schaub, H., Davis, P.K., Klein, G.L. and Wall, J.A., 2010,
December. Towards methodological approaches to meet the challenges of human, social,
cultural, and behavioral (HSCB) modeling. In Proceedings of the 2010 Winter Simulation
Conference (pp. 912-924). IEEE.