HSBC Bank: Challenges and Opportunities

This assignment delves into a detailed examination of HSBC Bank, considering its historical context, financial performance, and operational challenges. It analyzes the bank's response to past controversies and explores its current strategies to navigate a complex landscape marked by regulatory changes, technological advancements, and geopolitical uncertainties. Furthermore, the assignment utilizes PESTLE analysis to identify key external factors influencing HSBC's operations and future prospects.

Contemporary
Developments in Business
and Management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Influence of primary external factors on HSBC ........................................................................1
TASK 2............................................................................................................................................5
2.i Financial regulation/deregulation and its relevance to HSBC...............................................6
2.ii Evaluation of effectiveness of HSBC response to financial regulation or deregulation.......8
2. iii Recommendations to HSBC bank......................................................................................9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
In the era of competition and globalisation, each and every organisation strives to
perform better, so that their profitability and productivity can be increase rapidly (Bertram,
2010). There are various factors which influences the performance and growth of organisation.
HSBC bank is one of the largest banking and financial services organisations in the world. Their
branches are expanded globally in all the continents and the management is known for providing
effective quality of banking and financial services. While working globally, the bank influenced
by several factors that impacts on the growth and development of organisation. In this context,
the report will cover the external factors that impacts on the performance of HSBC banks.
Further in task 2, the relevance of financial regulation or deregulation will be analyse in this
report and its impacts on organisational policies and decision making will be identified. The
effectiveness of HSBC's response will be evaluate and areas of improvements will be discuses in
this report.
TASK 1
Influence of primary external factors on HSBC
Illustration 1: PESTLE Analysis
(Source: PESTLE Analysis, 2017)
External factors are the factors that affects the organisation structure, performance and
strategic goals. These external factors might include competition; social, legal and technological
changes, and the economic and political environment (Dawood, 2014). As HSBC bank is one the
largest financial and banking service organisation, there are various factors that impacts on the
performance of organisation adequately. In order to analyse the impact and relations of each
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external factors, PESTLE model will be used. PESTLE stands for political, Economic, Social,
Technological, Legal and Environment factors. These all are external factors that affects the
overall performance, structure and strategic goals of organisation. The PESTLE analysis of
HSBC banks is described below: Political Factors: Political factors are considered as external factors which impacts on
the organisation structure and performance greatly (PESTLE Analysis, 2017). Political
factors are the policies, norms, regulations, rules, which are formulated by the
government of specific countries. In order to establish or expand business in another
country or region, the management of organisation needs to comply with certain rules
which are formulated by particular government. HSBC has its operation in various
countries and as such needs to respond to the political system of the country in which it is
operating. The management of bank has been influenced by certain political factors that
affects their strategic goals and objectives (Srairi and Douissa, 2014). For instance, if the
management of HSBC bank desire to open new branch in different country, it cannot
established it under its own banner. It needs to embark it in partnership or collaboration
with some other smaller firm. Moreover, the management of HSBC needs to be strictly
complies with governmental laws and pay their taxes regularly on time. Stability of the
country is one of the most crucial factor that determines the success of HSBC bank. If the
country's political conditions are unstable, then it will impact on the growth and
development of the bank. The organisation also takes into account the threat, quality,
security and liberty of the legal system. Economic Factor: Economic factors are related with growth of economy, rate of
interests, rates of exchange, inflation rates, etc. Economic factors greatly influences the
productivity of organisations. If the business organisations needs to expand their business
in different country, then the management needs to carefully examines the economic
conditions of the particular country (Xiu, 2015). As HSBC working in banking and
financial sector, economic conditions hugely affects the performance and growth of the
organisation. The growth of HSBC largely depends on the major factors of economy like
speculations in the foreign exchange rates and volatile state of stock markets.
Furthermore, governmental exchange rates, taxation policies, monetary policies, etc.
affects the productivity of HSBC's management. Economic factors largely influence the
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performance of organisations. The management of HSBC needs to examine the current
state of economic conditions of particular country before expanding their business. The
global financial crisis of 2007-2008 impacts the European countries greatly. Many
banking and other organisation couldn't even recovered till today's date. Thus, there is
immense opportunity for HSBC to expand their organisations in European countries by
acquiring small financial institutions. In this way, their growth will be promulgate and
they will be able to accomplish their desired goals and targets. Social Factors: Social factors involves the aspects of culture and health consciousness,
population growth rate, distribution of age, career attitudes and emphasis on safety. High
trends in social factors affect the demand for a company's products and how that
company operates (Aloui, Hammoudeh and ben Hamida, 2015). In order to increase the
profitability and productivity of organisation, they must produce products and services
that benefits the customers and their needs and expectations can be fulfilled. In order to
do that, they need to conduct thorough market research. In this they can analyse the
current trends and practices following in the market economy. After that certain policies
are formulated that helps the management of organisation to provide services that fulfils
the needs and expectations of customers. In this context, HSBC management formulated
certain schemes and policies that helps in generating more and more customers and
investors, wiping out the competitors (Sanjeepan, 2016). Furthermore, the management
of HSBC frequently contributes in different charities worldwide. The organisation
organises various programs globally for the upliftment of the children by providing them
education. This impacts on the brand reputation of the bank and they are able to attract
more and more customers towards the bank efficiently. Thus, in order to sustain in the
competitive environment and increasing the customer satisfaction, the management of
HSBC needs to analyse the market conditions adequately. Technological Factors: Technological factors include the aspects of research and
development activity, automation, technology incentives and rate of technological
change. In the current times, the technological advancements are taking place rapidly
(Boersen and et.al., 2015). Nearly all the national and multinational organisations have
their own websites and majority of activities are conducting online. Since the evolution of
internet and information systems, organisations are installing high tech machineries that
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aid in minimising their efforts and assist in saving time and cost. Despite of having high
technologies in the premises of HSBC, the management constantly suffering from online
frauds, hacking and unethical activities. Technology plays vital role in financial and
banking sector organisations. In order to sustain in the competitive environment, it is
important for the management for HSBC bank and financial service to install adequate
information and technological system in the premises. Technological factors hugely
influences the work of HSBC group as they have faced several issues in past related with
technical management and data loss (Doski and et.al., 2013). The bank and financial
institutions outsourced its technology and call centre to Asian countries like China, India,
Malaysia, etc. Thus, it implies that technological factors greatly influenced the overall
work of HSBC bank and financial institutions. It is essential for an organisation to install
adequate information technology in their premises (Attias, 2014). This helps in lowering
cost and efforts and aid in increasing the profitability and productivity of the
organisation. Legal Factors: Legal factors are the factors which are concerned with the laws,
legislations and policies which are formulated by the government in order to safeguard
rights of consumers as well as employees. It is very essential for an organisation to work
as per the laws and follows all the legislation precisely (Harrison, 2013). There are
various laws such as employment rights act, consumer health and safety acts,
discrimination law, equality law, proposed by the parliament of United Kingdom and
which the HSBC bank and financial institution needs to follow. In order to prevent any
legal consequences, the management of HSBC bank and financial institution needs to
follow all the legislations and laws formulated by government of country. Legal factors
greatly influenced the reputation and goodwill of an organisation (Rosengard and
Prasetyantoko, 2011). If company follows all the legislation appropriately, their brand
reputation and loyalty will definitely increase. Further, they will able to get more
customer trust and support. Fail to follow the legislation precisely, organisation has to
face severe consequences that can damage the reputation and impacts on the growth of
company. As HSBC is one the leading bank and financial institution in the world, it is the
duty and responsibility of the management to follow all the rules efficiently.
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 Environmental Factors: Environmental factors includes ecological and aspects of
environments such as climatic conditions, weather, biosphere, etc. If an organisation
takes resources from environment, then it is their duty that they must give something to
environment so that sustainable growth and development can be attain. HSBC's
management has been conducting various events and campaigns in order to raise
awareness to protect the natural environment and ecological conditions of United
Kingdom as a part of their corporate social responsibility (Singleton and Verhoef, 2010).
The management has been in partnership with non governmental foundation named Earth
who ceaselessly participating in environmental protection activities. HSBC Group have
taken major initiatives to manage environmental risks globally for sustainable solutions
and increasing opportunities for development of organisation. In majority of their
branches, the management using renewable source of energy so that the consumption of
electricity can be minimised (Saunders and Walter, 2012). In past, various plantation
activities conducted by the organisation where the management plants millions of
saplings in United Kingdom and rest of the world. In order to increase the sustainability
in the organisation, it is very important for the management to consider the issues related
with the environmental protection and work diligently in order to protect it.
TASK 2
5
Illustration 2: HSBC Bank
(Source: Casin, 2017)

In this part, the impacts of financial regulation and deregulation on the policies of HSBC
bank will be assessed. As the organisation deals with financial and banking sector, the selected
theme will be precise to be analysed.
2.i Financial regulation/deregulation and its relevance to HSBC
Financial Regulation
Financial regulation refers to the process of supervision or regulations which mandates
financial corporations to particular requirements, restrictions and guidelines whose motive is to
maintain the integrity of the financial system. This is generally controlled and done by
governmental or non governmental organisations. It impacts the financial institutions and banks
by promulgating range of financial products (Levitin, 2013). The purpose of financial regulation
is to retain market confidence in the financial systems, brings stability and enhancements in the
financial systems and protecting consumers by securing precise degree of protection for
consumers. The financial regulations are imposed so that the financial institutions and banks
follows the trading acts appropriately. The primary source of framework legislation governing
the regulation of banking and financial services in the UK is the Financial Services Act 2012.
Financial Deregulation
Financial deregulation refers to the reduction or elimination of government power in
financial industry, usually enacted to create more competition within the industry (Imtiaz
Mazumder and Ahmad, 2010). The deregulation of the UK banking system is one of the most
momentous and contentious events in the history of banking. It was introduced by the
Conservative government of the day in the mid 1980s in a bid to make financial services in the
UK more competitive with foreign banking. In United Kingdom, the phrase Big Bang has been
used by the financial experts for sudden deregulation of financial markets.
Financial regulations or deregulations and its impacts on HSBC Policies and decision making
process
Financial regulations or deregulations greatly influences the banking policies and decision
making process of HSBC bank. The purpose of financial regulations is to strengthen the existing
financial services and retain the market confidence efficiently (Petursson and Morriss, 2011).
Researchers and authors enunciated that the regulations are imposed on the financial institutions
so that they work for effectively and follows all the laws adequately. The acts and legislation
mandates under financial regulation oblige the financial institution like HSBC to publish regular
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financial reports, ad hoc, notifications or directors dealing. After the global financial crisis of
2007-2008, many reforms and banking laws has been developed that influences the policies and
decision making approaches of HSBC banks (Ferran, 2012). The Financial Services Act 2012,
replaced the present current Tripartite structure. The act impacts on the banking policies and
reforms of HSBC bank and financial institution. There are several transformations made by the
management of the bank regarding saving account schemes, interest rates, insurance schemes,
loan accounts, etc. HSBC is committed to ensuring that it is fully compliant with its obligations
under the respective transparency regimes.
HSBC banks is one the biggest banks incorporating in Britain. The banking policies and
decision making process has been greatly influenced after announcement Brexit (Rottier and
Véron, 2010). The bank warned the government to shift their headquarters out from London.
According to the reports of The Guardian, HSBC has been hit hard by the banking levy, which
was cost up to £730 million (HSBC’s response: ‘Standards of due diligence were significantly
lower than today’, 2017). It impacts on the shareholders and account holders of the organisation.
The financial regulation and deregulation influences the current polices developed by the HSBC
bank and financial institutions. There are several areas that affected by the regulation or
deregulation which are provided below:
 Structure of Bank: The banking structure has been greatly influenced by the regulation
or deregulation of financial systems. The motive of regulatory reforms is to protect the
customers, tax payers and rest of economy (Pomfret, 2010). The Financial Services
(Banking Reforms) Act 2013 followed by HSBC banks aimed to improve the support for
customers and businesses.
 Workload: It’s widely accepted that there will be heavier workloads in financial services
as HSBC executives must find a balance between complying with regulation and
recording profits.
 Tax Transparency: HSBC is committed to becoming totally Foreign Account Tax
Compliance Act (FATCA). Through this, the management of HSBC bank can monitor
the tax legislation and inform the shareholders about any significant changes (Wilmarth,
2010). Now customers of HSBC needs to share their information with IRS or local tax
authority.
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 Relationship between banks and corporate companies: Financial regulation or
deregulation redefine relationship between banks and corporations (Lu, 2010). The new
reforms is introduced by the national bank which is known as Supplementary Leverage
Ratio (SLR) which will have direct impact on HSBC and other banks of United
Kingdom.
2.ii Evaluation of effectiveness of HSBC response to financial regulation or deregulation
In order to cope up with the regulations, HSBC's management transformed their certain
policies so that customers can be provided with effective and efficient quality of banking.
Further, after Brexit, the management of HSBC warns the government of United Kingdom to
shift their organisational headquarters out of London (Treanor, 2017). This negatively impacts on
the bank reputation and growth. There were significant steps taken by the management of HSBC
bank in past related with tax transparencies, improving customer experience, compliance and
control. The response of HSBC towards new banking reform formulated in 2013 was significant.
The organisation following all the rules and regulations so that their productivity and
profitability can be increased efficiently (Brown, 2010).
Major regulatory reform is under way in numerous jurisdictions to ensure that in
upcoming future, an individual who desire to hide their assets from tax authorities will be unable
to do so. HSBC fully support and welcome all the reforms that has been formulated by the
government of United Kingdom (Laurens, 2012). In this way, it implies that the management of
HSBC banks are following all the reforms and legislation to ensure that their clients and
customers get better and efficient banking experience in the near future. Furthermore, the
management of HSBC bank and financial institution committed to implement high tech
information technological systems in their premises so that they can monitor and supervise the
organisation efficiently and effectively (Scanlon. and Whitehead, 2011). The purpose of financial
regulation is to retain market confidence in the financial systems, brings stability and
enhancements in the financial systems and protecting consumers by securing precise degree of
protection for consumers.
The financial regulations are imposed so that the financial institutions and banks follows
the trading acts appropriately. In this context, the management of HSBC bank in United
Kingdom complies with all the laws and legislation so that customers and corporations can have
better banking experience (Casin, 2017). The response of HSBC is effective enough that helps
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them to sustain in the tough market condition of United Kingdom. Many banking and financial
experts suggests that in order to stay in the competitive and stressful marketing conditions of
United Kingdom, it is being advised to the management of banks to transform their policies and
codes frequently (Gitman, Juchau and Flanagan, 2015). Since the global economic crisis, the
management of HSBC bank has changed many of its banking policies related with tax, loan and
saving accounts schemes, This helps them to avoid any future consequences and they are moving
forward on the path of growth and development. Moreover, the organisation is committed to
follow global standards adequately (Greene and Boehm, 2011). They are focusing on their new
five year plans to manage the financial crime risk.
The steps HSBC has taken globally to de-risk and the comprehensive reforms the group
is putting in place will ensure that HSBC has a robust, sustainable anti-money laundering and
sanctions compliance programme (Miklaszewska, Mikołajczyk and Pawłowska, 2012). After the
global financial crisis of 2007-2008, many reforms and banking laws has been developed that
influences the policies and decision making approaches of HSBC banks. The Financial Services
Act 2012, replaced the present current Tripartite structure. The act impacts on the banking
policies and reforms of HSBC bank and financial institution. In order to improve the policies and
reducing frauds and crimes, the management of bank has reduced its customer base by almost
70% since the time of global financial crisis (Treanor, 2017). The management of HSBC needs
to be strictly complies with governmental laws and pay their taxes regularly on time. Stability of
the country is one of the most crucial factor that determines the success of HSBC bank. If the
country's political conditions are unstable, then it will impact on the growth and development of
the bank. Thus, it implies that in order to sustain in the competitive market economy of United
Kingdom, the management of organisation is working diligently and efficiently so that better
baking services can be provided to the clients and customers (Bertram, 2010). With the help of
banking reforms and acts, the management of HSBC frequently change their banking practices
so that their effectiveness in quality can be increased and they can serve their customers and
client corporations adequately.
2. iii Recommendations to HSBC bank
HSBC bank and financial institution is one of the biggest bank incorporating in United
Kingdom. With the help of their agile polices and excellent customer services, the customer of
bank has been continuously increasing (Dawood, 2014). This helps the management to sustain in
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the tough and competitive marketing conditions of United Kingdom. Though, there is a long way
to go and certain areas where bank needs improvements. In this part recommendations will be
provided to the HSBC bank so that they can improve their current structure and transform them
to increase the effectiveness in the performance level. In this context, the recommendations for
improvements are listed below: Needs to add diverse value to strategy: The banking habits are greatly influenced by the
globalisation, trade liberalisation policies of United Kingdom. Now competition in
United Kingdom increasing rapidly. HSBC bank is one of the biggest bank and financial
institution incorporating in United Kingdom (Srairi and Douissa, 2014). It is
recommended to the management to add diverse value to its corporate strategies so that
more competitive advantage can be gain and productivity can be increased. Invest more in technological advancements: Despite of having high technologies in the
premises of HSBC, the management constantly suffering from online frauds, hacking and
unethical activities (Xiu, 2015). Technology plays vital role in financial and banking
sector organisations. In order to sustain in the competitive environment, it is important
for the management for HSBC bank and financial service to install adequate information
and technological system in the premises. Thus, it is recommended to the managers to
focus on installing high tech information system in their organisation to increase the
effectiveness in performance and quality of work. Follow all the banking regulations: The government of United Kingdom propose
several banking regulations since the times of global financial crisis. They are mandatory
to be followed by all the national and private banks (Aloui, Hammoudeh and ben
Hamida, 2015). HSBC banks has been found in many insurance scandals that degrades its
reputations badly. Thus, it is recommended to the management of HSBC to follow all the
laws and legislation proposed by the parliament of United Kingdom adequately. This will
help them to increase their reputation and more customers and client corporations will
become part of the organisation. Focus more on transparencies: By focusing more on transparencies, the management of
HSBC banks lays good impression on customers. As from the analysis it was identified
that the organisations are already started following global standards. The tax
transparencies by the bank is effective step towards developing brand image. Thus, it is
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recommended to the management of HSBC to focus more on transparencies in the
banking systems and policies, so that more and more customers can be attracted. Improvements in pricing strategies: As it has generated many hundreds of millions of
pounds per annum in revenue from these charges (Sanjeepan, 2016). Review operational
capability to handle the situation, with particular focus on: effectiveness of the process,
infrastructure along with functional capacity (front, middle, back office) and straight
through process/workflow evaluation. Thus, it is recommended to the management of
HSBC to focus on improving the pricing strategies in order to sustain in the competitive
environment.
 Concentrating on customer satisfaction: Customer satisfaction plays vital role in the
growth and development of any organisation. In order to increase the productivity and
profitability of the organisation, the management must focus on improving the services
that helps in increasing the satisfaction of the customers (Boersen and et.al., 2015).
HSBC must check their policies and regulations so that barriers can be eliminated and
customers finds it easy to link with HSBC bank accounts efficiently.
CONCLUSION
From the above report, it can be understood that external factors greatly influences the
work of any organisations. The policies, legal structures, environmental factors, societal taste and
technological aspects affects the business process hugely. In this context, the external factors that
influences the working conditions of HSBC has been assessed and identified. From that it can be
said that the management needs to consider the economical and technological aspects so that
they can achieve greater heights. In task two of report, the impact of financial regulation or
deregulation on the policies and decision making process of HSBC bank has been identified.
They impact greatly on the banking policies and practices of HSBC. The evaluation of the
effectiveness of the response of HSBC has been made in the above report. After analysing that,
recommendations has been generated which helps the management of the organisation to
improve their performance and maximise their productivity.
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