Business Process Management Analysis
VerifiedAdded on 2020/07/23
|16
|4954
|90
AI Summary
The provided document is an in-depth analysis of business process management (BPM) that focuses on its significance, advantages, and core components. The text highlights the importance of BPM in improving organizational efficiency, increasing employee employability, and enhancing knowledge. It also discusses the strategic alignment, governance, people, and culture aspects of BPM, as well as the use of simulations for learning assurance. The document references various books, journals, and online sources to support its arguments.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Contemporary Developments
in Business and Management
in Business and Management
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Political factors:..........................................................................................................................2
Economic factors:........................................................................................................................3
Social factor:...............................................................................................................................3
Technological factor:..................................................................................................................4
Legal factors:...............................................................................................................................4
Environmental factors:................................................................................................................4
TASK 2............................................................................................................................................5
i) Relevance of ethics and CSR to standard chartered bank and their influence on policies and
decision making process.............................................................................................................5
ii) Effectiveness of organisational response................................................................................7
Iii) Regions which need to improve as a outcome....................................................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Political factors:..........................................................................................................................2
Economic factors:........................................................................................................................3
Social factor:...............................................................................................................................3
Technological factor:..................................................................................................................4
Legal factors:...............................................................................................................................4
Environmental factors:................................................................................................................4
TASK 2............................................................................................................................................5
i) Relevance of ethics and CSR to standard chartered bank and their influence on policies and
decision making process.............................................................................................................5
ii) Effectiveness of organisational response................................................................................7
Iii) Regions which need to improve as a outcome....................................................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13
INTRODUCTION
In current era, Business environment is change in fast manner and many multi-national
companies are facing various types of problems in managing their business operations in
appropriate manner. While at the same time, they understand major opportunities for their
enterprise which has been grown and they will exploit them if they are mainly focus on
successful implementation of strategies. The report is based on standard chartered bank who run
their business in financial and banking services sector (Rosemann and vom Brocke, 2015). This
project will understand external factors which directly impact the working of Standard chartered
bank. In this assignment, company evaluating the importance of different elements which
analyse ethics and corporate social responsibility that is the theme of this project. Also analyse
the impact of decision making process on the firm. The significance of contemporary
development of business is to understand the response given by enterprise when they are facing
various issues and problems that are related to ethics. Also they need to improve some important
areas which can be described. The main purpose of this report is to analyse SWOT and PESTLE
analysis for understand the business operations and its functions. Also they understanding ethical
and CSR activities within an organisation.
TASK 1
Standard chartered is the British multi national banking and financial services firm whose
headquarter is located in London, England. They need to operate networks where more than
1200 branches. This is international bank in which they operate consumers, institutional banking
and corporate and provide treasury services. An organisation can resolve major issues and
problems which occurs in the firm but they does not make control on various external elements
so they can make positive or negative effect on entire performance. For analysing their
importance, firm should analyse external factors that are discussed as under:
1
In current era, Business environment is change in fast manner and many multi-national
companies are facing various types of problems in managing their business operations in
appropriate manner. While at the same time, they understand major opportunities for their
enterprise which has been grown and they will exploit them if they are mainly focus on
successful implementation of strategies. The report is based on standard chartered bank who run
their business in financial and banking services sector (Rosemann and vom Brocke, 2015). This
project will understand external factors which directly impact the working of Standard chartered
bank. In this assignment, company evaluating the importance of different elements which
analyse ethics and corporate social responsibility that is the theme of this project. Also analyse
the impact of decision making process on the firm. The significance of contemporary
development of business is to understand the response given by enterprise when they are facing
various issues and problems that are related to ethics. Also they need to improve some important
areas which can be described. The main purpose of this report is to analyse SWOT and PESTLE
analysis for understand the business operations and its functions. Also they understanding ethical
and CSR activities within an organisation.
TASK 1
Standard chartered is the British multi national banking and financial services firm whose
headquarter is located in London, England. They need to operate networks where more than
1200 branches. This is international bank in which they operate consumers, institutional banking
and corporate and provide treasury services. An organisation can resolve major issues and
problems which occurs in the firm but they does not make control on various external elements
so they can make positive or negative effect on entire performance. For analysing their
importance, firm should analyse external factors that are discussed as under:
1
Political factors:
Standard chartered bank analyse the political situations of the United kingdom and
political condition in the external macro environment in proper manner (Jeston and Nelis, 2014).
UK economy is an open economy which allow and appreciate local direct investments. On the
other hand, united kingdom is totally based on free market economy along with less political
control and participation. The authority will play an important role for influencing business
sectors and markets. UK government help and recognise competition among various enterprise
for increasing their efficiency and form broad choice and low price accessible to consumers. In
this context, government assist both challengers and administration. Sometime, there is political
stability in the nation which give possibility to foreign direct investment in proper manner.
Standard chartered also take actively part in undertaken growth by using elaboration in another
area of Europe and bushed the competition. This is an effective and efficient strategy for
continuous growth and success which provide political stability situation in UK.
Importance
The factor is essential for Standard chartered bank because if they try to concentrate on
expanding business in the country which is not face major issues that relates to political stability
(Hammer, 2015). But if political situation of a nation is imbalance then they are doing business
in different territory for achieving potential goals and targets.
2
Illustration 1: PESTLE Analysis, 2017
(Source: PESTLE Analysis, 2017)
Standard chartered bank analyse the political situations of the United kingdom and
political condition in the external macro environment in proper manner (Jeston and Nelis, 2014).
UK economy is an open economy which allow and appreciate local direct investments. On the
other hand, united kingdom is totally based on free market economy along with less political
control and participation. The authority will play an important role for influencing business
sectors and markets. UK government help and recognise competition among various enterprise
for increasing their efficiency and form broad choice and low price accessible to consumers. In
this context, government assist both challengers and administration. Sometime, there is political
stability in the nation which give possibility to foreign direct investment in proper manner.
Standard chartered also take actively part in undertaken growth by using elaboration in another
area of Europe and bushed the competition. This is an effective and efficient strategy for
continuous growth and success which provide political stability situation in UK.
Importance
The factor is essential for Standard chartered bank because if they try to concentrate on
expanding business in the country which is not face major issues that relates to political stability
(Hammer, 2015). But if political situation of a nation is imbalance then they are doing business
in different territory for achieving potential goals and targets.
2
Illustration 1: PESTLE Analysis, 2017
(Source: PESTLE Analysis, 2017)
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Economic factors:
Economy is troubling from recession due to international financial crisis in the country.
This is the threat for financial industry due to standard chartered operated in this industry. The
unemployment has been increased within the nation. Disposal income and negotiation power of
consumer has been reduced due to rising prices and unemployment. It is one of the major threat
for consumer banking. Manufacture level has been reduced and the regime is considered to
revise the taxation policies due to economic recession. It is also major danger for merchandising
finance and banking industry. Standard chartered bank also facing many type of issues or
problems due to financial and economical recession in the United kingdom.
Importance
Standard chartered bank earn high income when they enter in India. But international
economic crisis in the year of 2009, decreased the growth of standard chartered bank. It is the
prime reason which analyse the market share of the organisation and by this they lost many of
their permanent customers (Alvarez, 2016). They can enlarge their business operation in
developing economy then they easily earn large income and continue towards their goals.
Social factor:
Each organisation has been follow various norms and rules which are exist in the
community. Money laundering is the major social issue which comes under in this industry.
Standard chartered is dealing with such problems and issues and they can impact on whole
performance of the firm. The company always change their culture according to the choice of
customers and satisfy them for providing desired goods and services.
Importance
There are cases which are related to money laundering that is important for the firm
because it negatively impact on their image within the society. People who are developed nation
understand that if they will save the money in banks, then good society due to save the amount
which will keep flow in the economy and help in increasing economic growth. In developing
country, market trends has been completing change in the past years and people start to save
money in the banks specially in private firm such as standard chartered because they offer more
interest and provide better services.
3
Economy is troubling from recession due to international financial crisis in the country.
This is the threat for financial industry due to standard chartered operated in this industry. The
unemployment has been increased within the nation. Disposal income and negotiation power of
consumer has been reduced due to rising prices and unemployment. It is one of the major threat
for consumer banking. Manufacture level has been reduced and the regime is considered to
revise the taxation policies due to economic recession. It is also major danger for merchandising
finance and banking industry. Standard chartered bank also facing many type of issues or
problems due to financial and economical recession in the United kingdom.
Importance
Standard chartered bank earn high income when they enter in India. But international
economic crisis in the year of 2009, decreased the growth of standard chartered bank. It is the
prime reason which analyse the market share of the organisation and by this they lost many of
their permanent customers (Alvarez, 2016). They can enlarge their business operation in
developing economy then they easily earn large income and continue towards their goals.
Social factor:
Each organisation has been follow various norms and rules which are exist in the
community. Money laundering is the major social issue which comes under in this industry.
Standard chartered is dealing with such problems and issues and they can impact on whole
performance of the firm. The company always change their culture according to the choice of
customers and satisfy them for providing desired goods and services.
Importance
There are cases which are related to money laundering that is important for the firm
because it negatively impact on their image within the society. People who are developed nation
understand that if they will save the money in banks, then good society due to save the amount
which will keep flow in the economy and help in increasing economic growth. In developing
country, market trends has been completing change in the past years and people start to save
money in the banks specially in private firm such as standard chartered because they offer more
interest and provide better services.
3
Technological factor:
Technology is play an essential role which directly impact on all business enterprise.
There are many new software and mobile techniques which can carried many modifications in
this industry (Chang, 2016). The hacking activities and generate new virus create many issues for
the standard chartered bank. Such business operations are getting impact on swift changes which
occurs in the banking and financial sector for faster up-gradation in latest techniques and tools.
Importance
If an organisation does not use and adopt latest technology of working such as transfer of
money by using internet, create payment through mobile phones etc., and after that they does not
survive in the current business world for many times. Standard chartered evaluate the
significance of technology changes and they require to update their services as per the
requirements. The importance of this external factors is high because it has been play important
role in the current success of an enterprise.
Legal factors:
The rules and regulations which has been made by European union is always changing
and modify (Amin, 2014). The government supports and regulates economy which are based on
market. On the other hand, banking industry required to be careful while designing market
communication strategies. UK authorities has been adopted certain rules and regulations which
measure to supervise the competition and prevent the association in effective manner. Also
nation follows the consumer protection directing of European union which are very purely and
cordial with user.
Importance
For following various rules and norms is an important aspects for standard chartered
bank. They need to complied with regulations in past years and it help in smooth running of
business operations and functions. An organisation reputation is higher because they mainly
follow illegal activities. Legal agreement is costly and it consume lot of time to the top level
management and they are accountable for managing and controlling various policies of the firm.
Environmental factors:
The culture and environment of the united kingdom assist performance based and user
cordial organisational culture (Disch, 2016). Ethical standards are high and firm need to
participated in corporate social responsibility. In UK, the organisational environment is less
4
Technology is play an essential role which directly impact on all business enterprise.
There are many new software and mobile techniques which can carried many modifications in
this industry (Chang, 2016). The hacking activities and generate new virus create many issues for
the standard chartered bank. Such business operations are getting impact on swift changes which
occurs in the banking and financial sector for faster up-gradation in latest techniques and tools.
Importance
If an organisation does not use and adopt latest technology of working such as transfer of
money by using internet, create payment through mobile phones etc., and after that they does not
survive in the current business world for many times. Standard chartered evaluate the
significance of technology changes and they require to update their services as per the
requirements. The importance of this external factors is high because it has been play important
role in the current success of an enterprise.
Legal factors:
The rules and regulations which has been made by European union is always changing
and modify (Amin, 2014). The government supports and regulates economy which are based on
market. On the other hand, banking industry required to be careful while designing market
communication strategies. UK authorities has been adopted certain rules and regulations which
measure to supervise the competition and prevent the association in effective manner. Also
nation follows the consumer protection directing of European union which are very purely and
cordial with user.
Importance
For following various rules and norms is an important aspects for standard chartered
bank. They need to complied with regulations in past years and it help in smooth running of
business operations and functions. An organisation reputation is higher because they mainly
follow illegal activities. Legal agreement is costly and it consume lot of time to the top level
management and they are accountable for managing and controlling various policies of the firm.
Environmental factors:
The culture and environment of the united kingdom assist performance based and user
cordial organisational culture (Disch, 2016). Ethical standards are high and firm need to
participated in corporate social responsibility. In UK, the organisational environment is less
4
negotiation and performance based due to proper economic financial condition and large force of
competition. The standard chartered bank of culture is totally based on performance rather than
negotiation manner.
Importance
It is important for organisation is to taken actions for cleaning environment and
surroundings due to they have certain roles and responsibilities respect to feel free from different
issues of environmental condition. For reducing use of paper is other steps that has been taken
and they understand the minimum utilisation of paper and mainly focus on recycling wastage
then it will help them for fulfilling government rules and regulations.
TASK 2
Ethics and Corporate social responsibility
i) Relevance of ethics and CSR to standard chartered bank and their influence on policies and
decision making process
There are major two terms which create confuses most of the people. First one is legal
and another is ethical. It is necessary for all the companies is to follow such rules and norms and
while they does not collected all serious judicial responsibility. Ethics define as moral standards
which can not similar with other firm but it is major part of the organisation so this will help in
analysing right or wrong situation. The firm does not punished on the ethical basis due to they
are not exist in law. An enterprise can not punished on the basis of ethical ground but they does
not presented in this law. In the financial sector, trust should be gained by customers is very
essential for playing ethical role in meeting the goals and objectives (Storey, 2014). There are
various areas that are covered in relevance of ethics and it will directly impact on making
decisions and policies of Standard chartered bank that are as follows:
Transparency- It is considered as an foremost part of ethics. In any concern people
observed that bank is drubbing some information from their style of working and policies and
found any activity suspicious then it will direct reduce the faith of customer in the banking
organisation. Transparency is highly relevant factor in a organisation as it will increase the
productivity by providing best service to customer in return more faith will be generated and it
will attract more and more customer in the organisation but there are certain challenges while
maintaining high level of transparency keeping customers in dark will drastically reduce the
5
competition. The standard chartered bank of culture is totally based on performance rather than
negotiation manner.
Importance
It is important for organisation is to taken actions for cleaning environment and
surroundings due to they have certain roles and responsibilities respect to feel free from different
issues of environmental condition. For reducing use of paper is other steps that has been taken
and they understand the minimum utilisation of paper and mainly focus on recycling wastage
then it will help them for fulfilling government rules and regulations.
TASK 2
Ethics and Corporate social responsibility
i) Relevance of ethics and CSR to standard chartered bank and their influence on policies and
decision making process
There are major two terms which create confuses most of the people. First one is legal
and another is ethical. It is necessary for all the companies is to follow such rules and norms and
while they does not collected all serious judicial responsibility. Ethics define as moral standards
which can not similar with other firm but it is major part of the organisation so this will help in
analysing right or wrong situation. The firm does not punished on the ethical basis due to they
are not exist in law. An enterprise can not punished on the basis of ethical ground but they does
not presented in this law. In the financial sector, trust should be gained by customers is very
essential for playing ethical role in meeting the goals and objectives (Storey, 2014). There are
various areas that are covered in relevance of ethics and it will directly impact on making
decisions and policies of Standard chartered bank that are as follows:
Transparency- It is considered as an foremost part of ethics. In any concern people
observed that bank is drubbing some information from their style of working and policies and
found any activity suspicious then it will direct reduce the faith of customer in the banking
organisation. Transparency is highly relevant factor in a organisation as it will increase the
productivity by providing best service to customer in return more faith will be generated and it
will attract more and more customer in the organisation but there are certain challenges while
maintaining high level of transparency keeping customers in dark will drastically reduce the
5
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
profitability of the bank as it will attract less customer. The bank could charge extra sum of
money for opening accounts or charges unnecessarily for providing services but instead of this
hidden costs they provides these services for free then it will have a huge positive impact on the
mind of the customers.
Promotion of trade fair practices– Standard Chartered Bank has a global presence of it
is the duty of the leading bank to initiate ethical trade practices. They must have strict rules and
guidelines in in stopping the network of money laundering by ceasing the flow black money in
the system. They cannot deny their customers and make them upset by making them to reverse
their source of money at the same time they must keep in mind that they should not be engaged
to any ethical practices. The bank follows ethical code and influence their policies by regarding
all the services provided to clients (Laudon and Laudon, 2016). Not only Standard Chartered
Bank but every bank should follow ethical values in carving out money laundering from the
banking sector and it must be mentioned publicly that company has chanced the policy to fight
the unethical issues
Diversity issue- Standard Chartered Bank believes that all the employees in the
organisation must be respected and treated in the same way. There are diversity of culture in the
world and every culture have their own ethical and moral value therefore it should be
responsibility of every people in the organisation to respect cultural and moral value. Equal
treatment is the basic culture to be followees in Standard Chartered Bank culture and they can
modify or changes the ethical values which disrupt the values of a culture.
For the very long time Standard Chartered Bank is known for good services and valuable
returns but they also have to face criticization related unethical activities.
Money Laundering– In recent past they have faced many charges to money laundering .
They were found guilty and are penalised with a massive amount of 1.94 billion dollars.
This has happened once in a lifetime and it has affected goodwill and marketing of bank
for a very longer period of time.
Abusive mortgage practices- Due to ill practices of Standard Chartered Bank many
people have lost their homes (Brocke and Rosemann, 2014). For that they were fined for
conducting unethical practices because they have made different rules for rich and poor.
Relevance of CSR to HSBC and its influence on organisation
6
money for opening accounts or charges unnecessarily for providing services but instead of this
hidden costs they provides these services for free then it will have a huge positive impact on the
mind of the customers.
Promotion of trade fair practices– Standard Chartered Bank has a global presence of it
is the duty of the leading bank to initiate ethical trade practices. They must have strict rules and
guidelines in in stopping the network of money laundering by ceasing the flow black money in
the system. They cannot deny their customers and make them upset by making them to reverse
their source of money at the same time they must keep in mind that they should not be engaged
to any ethical practices. The bank follows ethical code and influence their policies by regarding
all the services provided to clients (Laudon and Laudon, 2016). Not only Standard Chartered
Bank but every bank should follow ethical values in carving out money laundering from the
banking sector and it must be mentioned publicly that company has chanced the policy to fight
the unethical issues
Diversity issue- Standard Chartered Bank believes that all the employees in the
organisation must be respected and treated in the same way. There are diversity of culture in the
world and every culture have their own ethical and moral value therefore it should be
responsibility of every people in the organisation to respect cultural and moral value. Equal
treatment is the basic culture to be followees in Standard Chartered Bank culture and they can
modify or changes the ethical values which disrupt the values of a culture.
For the very long time Standard Chartered Bank is known for good services and valuable
returns but they also have to face criticization related unethical activities.
Money Laundering– In recent past they have faced many charges to money laundering .
They were found guilty and are penalised with a massive amount of 1.94 billion dollars.
This has happened once in a lifetime and it has affected goodwill and marketing of bank
for a very longer period of time.
Abusive mortgage practices- Due to ill practices of Standard Chartered Bank many
people have lost their homes (Brocke and Rosemann, 2014). For that they were fined for
conducting unethical practices because they have made different rules for rich and poor.
Relevance of CSR to HSBC and its influence on organisation
6
Opening bank in rural areas– Their enterprise is famous for concentrating in rich
customer neglecting poor ones as the rich class people all more value to their profits. But the
bank has understood that they also have few social responsibilities and they are running the
business in an society where people are treated equally so initiating their investment they have
planned to open to open 2 branches in India focussing on rural population. They have made
some changes in some of their policies and invested some money in opening banks which would
not fetch much profit for the bank.
Promotion of education- They are earning revenues in billions of dollars. So they are
also investing in some areas of promoting education through the country. They are providing free
education for needy and also providing loans at minimum interest rate. They have provided
vocational training to public at cheaper rate so that they can get employment (Vom Brocke and
et. al., 2014). They are currently also working in empowering women by fulfilling their
corporate social responsibility and assisting them in raising goodwill and earn appreciation from
across the globe. Which has positive impact of increasing their revenue in recent times
Fresh water sustainability– They also have certain activities in protection of natural
resources. They are working in sustaining freshwater resources by various measures as it is
important to use declining fresh water resources. It was found irrelevant and to other company
but it is one of the important global issues.
Community investment– All the companies related to banking sectors are responsible for
different development activities, programmes and projects and helps in supporting the
community in one or the other form. These activities may put financial burden but is is an
essential part of CSR.
ii) Effectiveness of organisational response
Standard chartered bank has been faced many type of problems and issues which relating
to the dishonourable usage of wrong practices. It is not incident of one nation, they can give
fined with large amount of punished amount in various country (Sadgrove, 2016). In certain
cases, they need to manage various matter in effective manner but still they does not take
necessary steps in proper way. There are some issues and problems which does not response to
the in corrective manner that are as under:
Linked with drug kingpin- The bank does not accept their mistake so that they help the
drug seller and at the end they have to pay approximately $3 billion amount in terms of fine. It is
7
customer neglecting poor ones as the rich class people all more value to their profits. But the
bank has understood that they also have few social responsibilities and they are running the
business in an society where people are treated equally so initiating their investment they have
planned to open to open 2 branches in India focussing on rural population. They have made
some changes in some of their policies and invested some money in opening banks which would
not fetch much profit for the bank.
Promotion of education- They are earning revenues in billions of dollars. So they are
also investing in some areas of promoting education through the country. They are providing free
education for needy and also providing loans at minimum interest rate. They have provided
vocational training to public at cheaper rate so that they can get employment (Vom Brocke and
et. al., 2014). They are currently also working in empowering women by fulfilling their
corporate social responsibility and assisting them in raising goodwill and earn appreciation from
across the globe. Which has positive impact of increasing their revenue in recent times
Fresh water sustainability– They also have certain activities in protection of natural
resources. They are working in sustaining freshwater resources by various measures as it is
important to use declining fresh water resources. It was found irrelevant and to other company
but it is one of the important global issues.
Community investment– All the companies related to banking sectors are responsible for
different development activities, programmes and projects and helps in supporting the
community in one or the other form. These activities may put financial burden but is is an
essential part of CSR.
ii) Effectiveness of organisational response
Standard chartered bank has been faced many type of problems and issues which relating
to the dishonourable usage of wrong practices. It is not incident of one nation, they can give
fined with large amount of punished amount in various country (Sadgrove, 2016). In certain
cases, they need to manage various matter in effective manner but still they does not take
necessary steps in proper way. There are some issues and problems which does not response to
the in corrective manner that are as under:
Linked with drug kingpin- The bank does not accept their mistake so that they help the
drug seller and at the end they have to pay approximately $3 billion amount in terms of fine. It is
7
not the first time when they committed similar mistakes, in current time period, they were easily
found as guilty in the case of money laundering for most of the time and at now they fail to build
good image which does not promote as unethical practices and activities. Also they do not
supporting deliberately but weak rules and lower ethical regulation does not do correct things in
proper manner.
Poor performance- Standard chartered bank was facing various problems related to
lower profit for long time period especially in 2011 and 2012. They required to find out
productive and
originative statement where they determine to fire about 24000 workers. It is unethical before
such employees are dependent on wages which is provided by this bank and they need to
concluded in order to reduce the cost of enterprise (Hall and Ko, 2014). The financial expert
think that it was unethical practices so Standard chartered bank can give proper outcome in better
manner by providing more dividend to the investors so most of the people can feel concerned in
investing them and also examine major issues which related to advanced financial burden that
has to be done in proper manner.
There are various ethical problems which standard chartered handled in impressive way
Bank suffers from last few years after being fined by US regulators for approval break
and incurring heavy loss on risky loans which turned into bad after downturn in Asian economies
and production marketplace.
Money laundering- An organisation does not have one or two issues or problems which
related to different part of this world so they have face accusation of money exchange. But it is
that time, where they given response to this major issues in impressive manner. In 2005, they
made “anti- money laundering teams”. This area accepted that their bank has transfer lots of
amount in taxation system and without taking any permission with other people (Lee, 2016).
They has been started for doing work on making system where they supervise and monitor
various employees.
Fair attention- There are many people who often blamed this bank that they required to
focus on their premium customers and does not care about small consumers. The firm need to
learnt their mistakes and they begin to promoting the listening culture and communicate properly
in order to given effective response to such charges.
CSR activities
8
found as guilty in the case of money laundering for most of the time and at now they fail to build
good image which does not promote as unethical practices and activities. Also they do not
supporting deliberately but weak rules and lower ethical regulation does not do correct things in
proper manner.
Poor performance- Standard chartered bank was facing various problems related to
lower profit for long time period especially in 2011 and 2012. They required to find out
productive and
originative statement where they determine to fire about 24000 workers. It is unethical before
such employees are dependent on wages which is provided by this bank and they need to
concluded in order to reduce the cost of enterprise (Hall and Ko, 2014). The financial expert
think that it was unethical practices so Standard chartered bank can give proper outcome in better
manner by providing more dividend to the investors so most of the people can feel concerned in
investing them and also examine major issues which related to advanced financial burden that
has to be done in proper manner.
There are various ethical problems which standard chartered handled in impressive way
Bank suffers from last few years after being fined by US regulators for approval break
and incurring heavy loss on risky loans which turned into bad after downturn in Asian economies
and production marketplace.
Money laundering- An organisation does not have one or two issues or problems which
related to different part of this world so they have face accusation of money exchange. But it is
that time, where they given response to this major issues in impressive manner. In 2005, they
made “anti- money laundering teams”. This area accepted that their bank has transfer lots of
amount in taxation system and without taking any permission with other people (Lee, 2016).
They has been started for doing work on making system where they supervise and monitor
various employees.
Fair attention- There are many people who often blamed this bank that they required to
focus on their premium customers and does not care about small consumers. The firm need to
learnt their mistakes and they begin to promoting the listening culture and communicate properly
in order to given effective response to such charges.
CSR activities
8
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Standard chartered bank is one of the leading and successful bank of united kingdom.
Basically, every country has different rules and regulations and they need to operate business and
its functions in effective manner. It is obvious that they have spend large some on social work
but not on corporate social responsibility which is not big issue and also analyse that firm want
to take such roles or not and they need to do something for smooth running of the business. Such
Asian nations like India, education quality and literary rate is very miserable. An enterprise take
responsibility for giving occupational training to an individual who does not have high education
level. They works for increasing employability ability and knowledge so they can gain
respectable amount of money by becoming employable in proper manner.
Diversity is based in workplace for current business time period but this firm works for
analysing different issues or problems when it can not even determined in the form of “issue”.
They always in favour of equality and they provide employment to the people from various
cultural and without determining proper language, culture, gender etc. Standard chartered bank
has been set different goals and objectives which relating to the environment in such way they
taken proper responsibilities for using preserving freshwater (Peppard and Ward, 2016). They
required to attached save water. This will shown that they taken serious for these responsibilities
which are given to them. They provide proper response towards their accountability which is not
good and for many times, they fail to create people to understand that they has been done for
maintaining environment. SWOT analysis can help in evaluating their effective feedbacks in
better way along with major benefits that they need to attained in previous year.
Strength
After doing lots of work for the society, the brand name and financial status of this firm
for getting more strength (PESTLE Analysis. 2017). They has been building image of the
company who is known for doing some unethical work but still their image will seen the
large improvement of ethical practices and social work that they required to done for
developing countries like India.
Around 275000 people are doing work in standard chartered bank along with their
cultures. The key strength of this organisation is make international presence in the
world. An enterprise gives different types of services that includes financial services, banking
investments etc. It is one of the major reason by which customers value is increased.
9
Basically, every country has different rules and regulations and they need to operate business and
its functions in effective manner. It is obvious that they have spend large some on social work
but not on corporate social responsibility which is not big issue and also analyse that firm want
to take such roles or not and they need to do something for smooth running of the business. Such
Asian nations like India, education quality and literary rate is very miserable. An enterprise take
responsibility for giving occupational training to an individual who does not have high education
level. They works for increasing employability ability and knowledge so they can gain
respectable amount of money by becoming employable in proper manner.
Diversity is based in workplace for current business time period but this firm works for
analysing different issues or problems when it can not even determined in the form of “issue”.
They always in favour of equality and they provide employment to the people from various
cultural and without determining proper language, culture, gender etc. Standard chartered bank
has been set different goals and objectives which relating to the environment in such way they
taken proper responsibilities for using preserving freshwater (Peppard and Ward, 2016). They
required to attached save water. This will shown that they taken serious for these responsibilities
which are given to them. They provide proper response towards their accountability which is not
good and for many times, they fail to create people to understand that they has been done for
maintaining environment. SWOT analysis can help in evaluating their effective feedbacks in
better way along with major benefits that they need to attained in previous year.
Strength
After doing lots of work for the society, the brand name and financial status of this firm
for getting more strength (PESTLE Analysis. 2017). They has been building image of the
company who is known for doing some unethical work but still their image will seen the
large improvement of ethical practices and social work that they required to done for
developing countries like India.
Around 275000 people are doing work in standard chartered bank along with their
cultures. The key strength of this organisation is make international presence in the
world. An enterprise gives different types of services that includes financial services, banking
investments etc. It is one of the major reason by which customers value is increased.
9
Weaknesses
The business of standard chartered bank is very poor because they have to build good
image of the company who do not concentrate on small customers in the market place.
For treating each user in similar manner is one that location where they are gives
response in accurate manner. This is not ethical practices and it will hurting the income
of the firm.
The important part of their income is come from USA but all the wrongful issues and
practices and lack of proper policies of the market must be declined.
Opportunities
CSR works for developing and underdeveloped country in impressive manner. They can
expand their business in large area which developing the economy and spend more in
different social welfare activities. They can expand their business because it can achieving high growth in future time
period (Johnson, 2014). Also they can work for ethical standards and gain trust for more
customers who recently does not require such firms services due to failure in their money
system.
Threats
Government made various rules and regulations which has been continuously create
various issues and problems relating to the organisation and make long term strategies.
10
Illustration 2: SWOT Analysis, 2017
(Source: SWOT Analysis, 2017)
The business of standard chartered bank is very poor because they have to build good
image of the company who do not concentrate on small customers in the market place.
For treating each user in similar manner is one that location where they are gives
response in accurate manner. This is not ethical practices and it will hurting the income
of the firm.
The important part of their income is come from USA but all the wrongful issues and
practices and lack of proper policies of the market must be declined.
Opportunities
CSR works for developing and underdeveloped country in impressive manner. They can
expand their business in large area which developing the economy and spend more in
different social welfare activities. They can expand their business because it can achieving high growth in future time
period (Johnson, 2014). Also they can work for ethical standards and gain trust for more
customers who recently does not require such firms services due to failure in their money
system.
Threats
Government made various rules and regulations which has been continuously create
various issues and problems relating to the organisation and make long term strategies.
10
Illustration 2: SWOT Analysis, 2017
(Source: SWOT Analysis, 2017)
Also there are various rivals of the company which may steal more market share from the
banking sector in forthcoming time period so the goodwill and their services are better
rather than standard chartered bank.
Iii) Regions which need to improve as a outcome
Each firm give certain faults and they deal with some major defects. But they require to
improve in their different locations for getting accurate results in future time frame. Standard
chartered bank can done various things which help in providing more profits, but it is important
that they cannot take all high steps for concentrate on corrective steps in effective time period
(Koppes, 2014). There are several areas which can be improved by standard chartered bank in
forthcoming time that are as under:
Ethics classes- An organisation can make certain changes in the ethical standards. They
required to conduct classes on regular basis by their senior managers who gives moral and
ethical values to their employees. If important people can understand the impact of fair exercise
and gaining trust of customers then this will give benefits to the business of an organisation.
Enhancing strength of female workers in growing economy- In the nation like UK and
US, diversity is not major issue for their association but in China, India and African countries,
large number of female employees are less in standard chartered bank. They required to hire
more women staff in the firm so they can interpret in this world where they does not
discriminating people on the basis of gender, caste etc.
Rewards planning- An employees who doing extra ordinary ethical practices and
encourage other person to follow all moral standards that should be rewarded by such company
so most of the employees earn motivation towards health and make positive culture which
developing trust among each one.
Community work- Making plans for society work, they required to focus on controlling
and implementing activities (Reynolds, 2017). Also they provide vocational training to most of
the people so they can developing major ability to young generation people. They should also
investigate their work that relates to CSR on regular basis so they can evaluating the process
which has been achieved welfare of society.
Sustainable surroundings- An organisation should focus on making green building and
they required to reduce the usage of paper while doing work (SWOT Analysis. 2017). They also
11
banking sector in forthcoming time period so the goodwill and their services are better
rather than standard chartered bank.
Iii) Regions which need to improve as a outcome
Each firm give certain faults and they deal with some major defects. But they require to
improve in their different locations for getting accurate results in future time frame. Standard
chartered bank can done various things which help in providing more profits, but it is important
that they cannot take all high steps for concentrate on corrective steps in effective time period
(Koppes, 2014). There are several areas which can be improved by standard chartered bank in
forthcoming time that are as under:
Ethics classes- An organisation can make certain changes in the ethical standards. They
required to conduct classes on regular basis by their senior managers who gives moral and
ethical values to their employees. If important people can understand the impact of fair exercise
and gaining trust of customers then this will give benefits to the business of an organisation.
Enhancing strength of female workers in growing economy- In the nation like UK and
US, diversity is not major issue for their association but in China, India and African countries,
large number of female employees are less in standard chartered bank. They required to hire
more women staff in the firm so they can interpret in this world where they does not
discriminating people on the basis of gender, caste etc.
Rewards planning- An employees who doing extra ordinary ethical practices and
encourage other person to follow all moral standards that should be rewarded by such company
so most of the employees earn motivation towards health and make positive culture which
developing trust among each one.
Community work- Making plans for society work, they required to focus on controlling
and implementing activities (Reynolds, 2017). Also they provide vocational training to most of
the people so they can developing major ability to young generation people. They should also
investigate their work that relates to CSR on regular basis so they can evaluating the process
which has been achieved welfare of society.
Sustainable surroundings- An organisation should focus on making green building and
they required to reduce the usage of paper while doing work (SWOT Analysis. 2017). They also
11
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
conduct sponsor events which mainly encourage pollution free environment and charity funds for
non profit enterprise who will work for the society.
Ways for safe water- Standard chartered bank is one of the leading financial and banking
sector. Also they can support the government who make and build dams in rural locations so
more people can get drinkable water within their area.
CONCLUSION
From the above mentioned report it can be analysed that Business environment is change
in fast manner and many multi-national companies are facing various types of problems in
managing their business operations in appropriate manner. Standard chartered bank analyse the
political situations of the United kingdom and political condition in the external macro
environment in proper manner. Standard Chartered Bank has a global presence of it is the duty
of the leading bank to initiate ethical trade practices. Bank has been faced many type of
problems and issues which relating to the dishonourable usage of wrong practices. It is not
incident of one nation, they can give fined with large amount of punished amount in various
country. An enterprise take responsibility for giving occupational training to an individual who
does not have high education level. They works for increasing employability ability and
knowledge so they can gain respectable amount of money by becoming employable in proper
manner.
12
non profit enterprise who will work for the society.
Ways for safe water- Standard chartered bank is one of the leading financial and banking
sector. Also they can support the government who make and build dams in rural locations so
more people can get drinkable water within their area.
CONCLUSION
From the above mentioned report it can be analysed that Business environment is change
in fast manner and many multi-national companies are facing various types of problems in
managing their business operations in appropriate manner. Standard chartered bank analyse the
political situations of the United kingdom and political condition in the external macro
environment in proper manner. Standard Chartered Bank has a global presence of it is the duty
of the leading bank to initiate ethical trade practices. Bank has been faced many type of
problems and issues which relating to the dishonourable usage of wrong practices. It is not
incident of one nation, they can give fined with large amount of punished amount in various
country. An enterprise take responsibility for giving occupational training to an individual who
does not have high education level. They works for increasing employability ability and
knowledge so they can gain respectable amount of money by becoming employable in proper
manner.
12
REFERENCES
Books and journals
Alvarez, J. L. ed., 2016. The diffusion and consumption of business knowledge. Springer.
Amin, S., 2014. Capitalism in the age of globalization: The management of contemporary
society. Zed Books Ltd..
Brocke, J. V. and Rosemann, M., 2014. Handbook on Business Process Management 2:
Strategic Alignment, Governance, People and Culture. Springer Publishing Company,
Incorporated.
Chang, J. F., 2016. Business process management systems: strategy and implementation. CRC
Press.
Disch, L., 2016. Representation. In The Oxford Handbook of Feminist Theory.
Hall, O. P. and Ko, K., 2014. Learning assurance using business simulations applications to
executive management education. Developments in Business Simulation and
Experiential Learning. 33.
Hammer, M., 2015. What is business process management?. In Handbook on Business Process
Management 1 (pp. 3-16). Springer, Berlin, Heidelberg.
Jeston, J. and Nelis, J., 2014. Business process management. Routledge.
Johnson, P., 2014. Fundamentals of collection development and management. American Library
Association.
Koppes, L. L., 2014. Historical perspectives in industrial and organizational psychology.
Psychology Press.
Laudon, K. C. and Laudon, J. P., 2016. Management information system. Pearson Education
India.
Lee, C. A., 2016. Aesthetic music therapy. In The Oxford Handbook of Music Therapy.
Peppard, J. and Ward, J., 2016. The strategic management of information systems: Building a
digital strategy. John Wiley & Sons.
Reynolds, M., 2017. Organizing reflection. Routledge.
Rosemann, M. and vom Brocke, J., 2015. The six core elements of business process
management. In Handbook on business process management 1 (pp. 105-122). Springer
Berlin Heidelberg.
Sadgrove, K., 2016. The complete guide to business risk management. Routledge.
Storey, J., 2014. New Perspectives on Human Resource Management (Routledge Revivals).
Routledge.
Vom Brocke, J. and et. al., 2014. Ten principles of good business process management. Business
process management journal. 20(4). pp.530-548.
Online
PESTLE Analysis. 2017. [Online]. Available through:
<http://www.healthplace4u.com/pestle-s/102608-pestle-analysis-standard-chartered-
bank-ltd.html>.
SWOT Analysis. 2017. [Online]. Available through:
<https://www.mbaskool.com/brandguide/banking-and-financial-services/1279-standard-
chartered-bank.html>.
13
Books and journals
Alvarez, J. L. ed., 2016. The diffusion and consumption of business knowledge. Springer.
Amin, S., 2014. Capitalism in the age of globalization: The management of contemporary
society. Zed Books Ltd..
Brocke, J. V. and Rosemann, M., 2014. Handbook on Business Process Management 2:
Strategic Alignment, Governance, People and Culture. Springer Publishing Company,
Incorporated.
Chang, J. F., 2016. Business process management systems: strategy and implementation. CRC
Press.
Disch, L., 2016. Representation. In The Oxford Handbook of Feminist Theory.
Hall, O. P. and Ko, K., 2014. Learning assurance using business simulations applications to
executive management education. Developments in Business Simulation and
Experiential Learning. 33.
Hammer, M., 2015. What is business process management?. In Handbook on Business Process
Management 1 (pp. 3-16). Springer, Berlin, Heidelberg.
Jeston, J. and Nelis, J., 2014. Business process management. Routledge.
Johnson, P., 2014. Fundamentals of collection development and management. American Library
Association.
Koppes, L. L., 2014. Historical perspectives in industrial and organizational psychology.
Psychology Press.
Laudon, K. C. and Laudon, J. P., 2016. Management information system. Pearson Education
India.
Lee, C. A., 2016. Aesthetic music therapy. In The Oxford Handbook of Music Therapy.
Peppard, J. and Ward, J., 2016. The strategic management of information systems: Building a
digital strategy. John Wiley & Sons.
Reynolds, M., 2017. Organizing reflection. Routledge.
Rosemann, M. and vom Brocke, J., 2015. The six core elements of business process
management. In Handbook on business process management 1 (pp. 105-122). Springer
Berlin Heidelberg.
Sadgrove, K., 2016. The complete guide to business risk management. Routledge.
Storey, J., 2014. New Perspectives on Human Resource Management (Routledge Revivals).
Routledge.
Vom Brocke, J. and et. al., 2014. Ten principles of good business process management. Business
process management journal. 20(4). pp.530-548.
Online
PESTLE Analysis. 2017. [Online]. Available through:
<http://www.healthplace4u.com/pestle-s/102608-pestle-analysis-standard-chartered-
bank-ltd.html>.
SWOT Analysis. 2017. [Online]. Available through:
<https://www.mbaskool.com/brandguide/banking-and-financial-services/1279-standard-
chartered-bank.html>.
13
14
1 out of 16
Related Documents
Your All-in-One AI-Powered Toolkit for Academic Success.
+13062052269
info@desklib.com
Available 24*7 on WhatsApp / Email
Unlock your academic potential
© 2024 | Zucol Services PVT LTD | All rights reserved.