Change Management Strategies for HSBC: A Case Study Analysis

Running head: CHANGE MANAGEMENT
Change management for HSBC Case Study
Name of the Student
Name of the University
Author’s Note:

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CHANGE MANAGEMENT
Executive Summary
The main objective of this report is to understand about change management for the case
study of HSBC. Change management could easily incorporate various organizational tools,
which could be used for helping the individuals to make personal transitions for resulting in
the subsequent adoption or realization of changes. It even focuses on the individuals, effected
by the change. It is extremely important and significant to ensure that the strategies,
undertaken by the organization for change management are accurate and error free for
maintaining a proper balance within the business. This report has provided a detailed analysis
of the case study of HSBC, after identification of the key drivers for change and steps,
undertaken by them to remove resistance of change. Three appropriate recommendations are
also provided to implement better methods of change management in HSBC.

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Table of Contents
1. Introduction............................................................................................................................3
2. Discussion..............................................................................................................................3
2.1 Brief Idea of the Case Study............................................................................................3
2.2 Discussion of the Key Drivers for Change at HSBC.......................................................3
2.3 Steps taken by HSBC Management for Overcoming Resistance to Change with Proper
Justification............................................................................................................................5
2.4 HSBC concerning about Triple Bottom Line with Proper Justification..........................6
3. Conclusion..............................................................................................................................8
4. Recommendations..................................................................................................................8
References................................................................................................................................10

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1. Introduction
Change management can be referred to as the different approaches for the purpose of
preparation, supporting as well as helping all individuals, organizations and teams to bring
out organizational changes (Hayes, 2018). The organizational change management even
considers the entire company and requirement of such changes for checking the importance
of organizational transition. It also deals with several different disciplines from the social and
behavioural science towards business solutions and information technology (Doppelt, 2017).
The following report outlines a brief discussion on change management for the popular case
study of The Hong Kong and Shanghai Banking Corporation or HSBC regarding their
approach of change management with proper details related to key drivers for change, steps
taken for overcoming resistance to change, concern about triple bottom line and suitable
recommendations.
2. Discussion
2.1 Brief Idea of the Case Study
The Hong Kong and Shanghai Banking Corporation or HSBC is one of the most
popular and significant banks was established in the year of 1865 and has its headquarters in
London, United Kingdom. They have 9500 offices in the entire world and have been serving
the customer base of around 100 million with the help of several products and services within
the financial sector. There is a diversified range of factors like economic recession,
fluctuating market trends, newer technologies and government instability for bringing
changes in the business. During the year of 1998, they have devised a five year strategy,
known as MFV or Managing for Value for completing exploiting the globalized markets and
exceeding shareholder value. The organizational management has aimed at incrementing the
customer based and realignment of the value proposition as offered to the clients after
considering different measures like reduction of costs, automation of processes, enhanced
employee engagement and improvised service delivery. There was a negative attitude for
these changes, since few employees have resisted to the changes. For this particular purpose,
the respective management had developed a four step model.
2.2 Discussion of the Key Drivers for Change at HSBC
The organization of HSBC has eventually brought massive changes in their business
for ensuring that better effectiveness and efficiency is being incorporated without much
complexity (Cameron and Green, 2019). They have undergone the most significant changes