Analyzing Global Business & Politics Challenges: HSBC Holdings PLC

This research project examines the complex relationship between global business and global politics, focusing on the challenges faced by HSBC Holdings plc. The study begins with an overview of global business and politics, defining key concepts and outlining the research aims, questions, objectives, and ethical considerations. A comprehensive literature review explores the concepts of global business and politics, their interrelationship, the influence of globalization on business functions, and the specific challenges faced by HSBC in its international operations. The research methodology is detailed, including the research philosophy, approach, type, data collection methods, sampling techniques, and ethical considerations. The report then presents the data analysis and interpretation, followed by conclusions and recommendations, including reflections on the research process. The project aims to provide insights into how HSBC can overcome challenges effectively in the global market. The project uses a case study approach, incorporating a table of contents, introduction, literature review, research methodology, data analysis and interpretation, and conclusion with recommendations, and references.

Research Project

Table of Contents
TITLE .............................................................................................................................................1
CHAPTER 1: INTRODUCTION ...................................................................................................1
Overview of the study: ..........................................................................................................1
Research Aim.........................................................................................................................1
Research Questions ...............................................................................................................1
Research Objectives ..............................................................................................................2
Rational of the research: ........................................................................................................2
Ethical Consideration.............................................................................................................2
CHAPTER: 2 LITERATURE REVIEW.........................................................................................2
To identify the concept of global business and global politics..............................................2
To understand the relationship between global business and global politics.........................3
To determine the influence of globalisation on business functions of HSBC Holdings plc. 4
To Examine different challenges faced by HSBC Holdings plc when they globalised their
business at international level.................................................................................................4
Recommend different ways through which HSBC Holdings plc can easily overcome
challenges effectively.............................................................................................................5
CHAPTER:3 RESEARCH METHODOLOGY..............................................................................5
Research Methodology...........................................................................................................5
Research Philosophy .............................................................................................................6
Research Approach: ...............................................................................................................6
Research type: .......................................................................................................................7
Quantitative research: ...........................................................................................................7
Qualitative research: ..............................................................................................................7
Data Collection: .....................................................................................................................7
Sampling:................................................................................................................................8
Research ethics: .....................................................................................................................8
Research reliability and validity:............................................................................................8
Questionnaire..........................................................................................................................8
CHAPTER 4: DATA ANALYSIS AND INTERPRETATION....................................................11

CHAPTER 5: CONCLUSION AND RECOMMENDATION.....................................................20
Reflection.............................................................................................................................20
Recommendation..................................................................................................................21
Conclusion ...........................................................................................................................21
REFERENCES..............................................................................................................................23
.......................................................................................................................................................24

TITLE
“To analyze the interrelationship between global business and global politics and the
challenges that can create” . A case study on HSBC Holdings plc.
CHAPTER 1: INTRODUCTION
Overview of the study:
Global business is identified as economic or corporate activity that takes place in
different nations. When an organisation has distributors and factories in the different countries,
this is an instance of global business. In addition, it is a type of business that operates facilities
such as distribution and factories centres in various nations around the globe. This is different
from a global business, which sells and market products in all over the globe but has certain
facilities only its home country (Cetorelli and Goldberg, 2012) . Global politics, also known as
international politics, names both the discipline that examine the political as well as economical
patterns of the globe and the area that is being studied. For this report, HSBC Holdings plc is a
British multinational financial and banking services holding company. It was founded in 1866 by
Sir Thomas Sutherland in Canada Square, London, United Kingdom. Global business and global
politics has interrelationship which will help an organisation in development of its growth and
success. There are different challenges faced by company while globalise their business
operations and activities (Davies, 2016). These challenges or issues mainly related with different
laws and regulations, communication barriers, culture difference and so on. All these are major
issues which will negative impact on development and growth of company at international
marketplace. In order to maintain strong position in international market, company need to
follow all laws and regulations of government in proper manner. Thus, it prove, global business
has strong interrelationship with global politics.
Research Aim
Main aim of this research is “To analyse the interrelationship between global business
and global politics and the challenges that can create” . A case study on HSBC Holdings plc.
Research Questions
 What are the interrelationship between global business and global politics and the
challenges that can create?
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Research Objectives
 To identify the concept of global business and global politics.
 To understand the relationship between global business and global politics.
 To determine the influence of globalisation on business functions of HSBC Holdings plc.
 To Examine different challenges faced by HSBC Holdings plc when they globalised their
business at international level.
 Recommend different ways through which HSBC Holdings plc can easily overcome
challenges effectively.
Rational of the research:
Main reason behind selecting this topic is to analyse the interrelationship between global
business and global politics and the challenges that can create. HSBC Holdings plc is a chosen
multinational bank which will support the community by providing job chances to the them. This
topic will also help an investigator by enhancing its knowledge and capability about literature
review, data analysis and data interpretation (Costinot and Rodríguez-Clare, 2014). All these are
identify as a main skills which will help them to complete each activities or tasks of research in
systematic and effective manner. Globalisation is more essential and important process for
multinational organisation to attain long term goals and objectives within given time duration.
Ethical Consideration
Ethical considerations are one which helps in differentiating between what is right and
what is wrong. While selecting the sources of data it was kept in mind that the data is relevant
and is taken from the sources which can be trusted. Also all those who were part of this research
were ensured that the data collected from them will not be used for any other purpose which is
not known to them (Humphreys, 2017).
CHAPTER: 2 LITERATURE REVIEW
To identify the concept of global business and global politics
According to Docquier and Rapoport, (2012) Global business is also named as
globalisation. This is the important process which includes about doing business across the
domestic boundaries. The aspects which are included under this is about the interaction of and
integration of people, companies and government. To understand this concept also said that
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integration of local and national economies. The different kind of advantages which are
associated with the topic of globalisation includes advances in transportation, communication,
technology etc. Along with the positive aspect of globalisation there is the negative side of this
process which includes about the culture and language differences. It is not easy always to adapt
in accordance with the new conditions and this will results in creation of distress within the
corporate structure of the organisation. The overall impact is seen over the working of the
different departments of the organisations and their power about the timely completion of work
as they unable to complete the work on stipulated and targeted time which is decided earlier. For
example there are different organisations which operates their business operations in many
countries like M&S, Unilever, Tesco, HSBC etc. All these organisation operates their business
activities in many countries and adopt the norms and cultures according to the nations
requirement. HSBC is having their operations in Hong Kong, UK, China etc. This is the basic
reason that this organisation is termed as global organisation having operations in more than one
nation.
According to Hirst, Thompson and Bromley, (2015) Global politics is the concept which
arose because of the organisational operations in different nations. This is about how one
organisation belongs from one nation is needed to cope up and follow the regulations and laws of
the different countries in which they going to operate their business operations. Each and every
country is having different government and they made the laws and norms according to the the
situations present in nation. This is the duty of the management of the organisation that they
must follow the these regulations properly while conducting their business operations.
To understand the relationship between global business and global politics
According to Rai, (2013) there is a close connection between global business and politics
as they have many factors that are directly related to one another. Global business is the
commercial activity which is carried out at global level and global politics is world politics,
names both the discipline that studies the political and economic patterns of the world and the
field that is being studied. Every country has their own political structure and any organisation
who wish to operate at worldwide level need to take care of the present political conditions of
that particular place as no company can enter in the other country if the government do not
support the same. HSBC is a bank which is a part of a very important sector and government has
major interest in same. While planning the operations and policies of the bank it is important that
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all the political conditions that are made to follow by the banks are considered as if not than the
firm is accountable to the government. Government has major stake in maintaining the economic
conditions of the country and therefore every bank be it HSBC or any other take care that while
it formulates the landing and borrowing plans it does not gets highlighted in front of the
government and still manage to make good profit.
To determine the influence of globalisation on business functions of HSBC Holdings plc
According to Ritzer and Dean, (2015) globalisation is a huge concept and has a direct or
indirect impact on the functions of organisation. No company operating at global level can
operate with its own domestic working culture as during globalisation adjustment has to be done
according to the present external conditions of the other nation in which you are moving in. It
becomes necessary to adopt the work culture of that particular place as otherwise your company
is out of the corporate culture of that particular nation. Also when operations are started in the
new country the working at initial level is difficult as it takes time to understand the working
atmosphere, the market and everything. The competition level increases as the domestic
company is new to the country and people take time to trust the new brand. Stromquist and
Monkman, (2014) further adds that the business is highly influenced with the technology of the
new place as it again requires patience and training to become familiar with the changed
applications. At initial level much switching cost of technology has to be suffered which has
great risk as in case it did not turn out to be productive than company may go under huge loss.
The author also says that to get the employment is difficult if the economic conditions of that
particular place are not stable and are not favourable.
To Examine different challenges faced by HSBC Holdings plc when they globalised their
business at international level
HSBC is multinational bank and having their operations in many countries. It is not easy
for the management of the bank to conduct all the activities properly without facing any
challenges in the new country. The different nation where HSBC having their operation includes
Hong Kong, UK etc. The different type of challenges that can be faced by the management of
HSBC bank while they are going to globalise their business operations is understood from the
points which are defined below:
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 The biggest challenge faced by the bank while going to operate at different nation about
culture. It is hard for the employees to adjust in the new culture and provide their
optimum effort in completion of predetermined objectives of bank.
 Language is also one of the barrier that can be faced in the process internationalisation.
This will brings communication gaps and negatively impacts on the process of team
development (Varese, 2013).
 It is not easy to transfer all the employees to the new place for job. Recruitment of the
talented employees as per the job specification in new country is difficult task an this will
negative impacts the output of the bank.
 In the process of internationalisation the major issue is also about dynamic environment.
In that case situations are changed drastically in less period time and sometimes the
decision of expansion become the worst. This would be the reason due to which an
organisation or bank has face loss (Borjas, 2015).
 Political instability is also one of the reason that results into the creation of challenges for
an bank like HSBC to properly follow all the laws properly. As this instability in nature
results into the frequent changes in laws and regulations and this would be difficult for
the management of bank to adopt frequently.
Recommend different ways through which HSBC Holdings plc can easily overcome challenges
effectively
According to Webster, (2016) when an organisation plans to go at globalise level it is
important that it simultaneously also make arrangements for the problems that will come across
as most of them can be predicted well in advance. It is important that continuous training
programs are made for the working staff so that they can compete with the external business
environment. apart from this more of interactive sessions should be conducted as this will help in
understanding the culture of new place which is of great importance to develop the working
culture.
CHAPTER:3 RESEARCH METHODOLOGY
Research Methodology
This is the process which includes about the theoretical and systematic analysis of the
different methods which provides an opportunity to collect the different type of information
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regarding particular field of study. Research methodology includes the theoretical investigation
of body of law subordinate with the branch of knowledge.
Research Philosophy
It is the important technique which includes about the collection of information from the
different respondents to ascertain their views (Ducassy and Montandrau, 2015) All these views
are recorded in proper manner as these will be used in future to grab proper conclusion. The
respondents are select by the researcher to ascertain their views on the research topic to analyse
the perfect solution. This will provides an opportunity to grab the knowledge about the topic and
provide better recommendations. There are three different types of philosophies. These are
named as pragmatist, positivist and interpretivist (Lawrence and Almas, 2018). The one which
is used within this research while carrying out the whole process is named as pragmatist. The
main aspect behind the adoption of this research philosophy is that the topic is wide in nature.
This will includes about the ascertainment of the relationship between global business and
politics and the challenges which are associated with them. This is very time consuming in
nature and the adoption of this technique help to work effectively and grab the actual and
efficient knowledge.
Research Approach:
This is the important technique which provides an opportunity to grab the information
from the topic and provide appropriate recommendations (French, 2015). This will help in
getting deeper knowledge about the research topic and provide accurate and reliable conclusions.
These approaches are further divided into two parts. Thee approaches are named as deductive
and inductive. The approach which is used to carry on this research is named as inductive. The
main reason behind the adoption of this approach is that it provides authenticated views over the
research topic and also help in the process of concluding and considering quantitative data. The
main focus which provided as per this approach is upon the data collection. The method which is
sued to collect is named as questionnaire (Ho and Fung, 2016). This is the important method
which help to gather the reviews of respondents upon the topic and to analyse information to
brought proper results.
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Research type:
This will help to ascertain the number of approaches present to carry on the research
work. The two different types of researches which can be used to carry on the process of research
are named as Qualitative and Quantitative. Both these approaches are different from each other
and having their own different contribution in the process of research.
Quantitative research:
This method is used to collect the information in quantitative form in respect of the
research problem so, the proper and accurate results can be gathered in terms of statistics. This
will provides an opportunity to the researcher to present its opinion in quantify manner
(Galbreath, 2017). All these quantitative results are gathered by researcher from the large
number of population in the form of statistics. The different kind of methods which can be used
to conduct this research are named as Survey, mobile survey etc.
Qualitative research:
This is known as primary exploratory research which is used to collect or gaining the
information in respect of the opinion, motivation and reasons of respondents upon the research
topic. It is the form of the investigation which provides additional information in respect of the
problem which is used to in future period of time to develop ideas. Al these aspects and results
are further used to do quantitative research. The different type of methods which can be used in
this process are named as interview, group discussion etc. These methods are the use by the
researcher who want to conduct the research with the help of qualitative method (Bohas, 2015).
Data Collection:
There are mainly two types of data collection methods which is primary and secondary.
For accumulating primary information, questionnaire will be applied by investigator as it will
help them by providing reliable and valid data about the topic. On the other hand, for collecting
secondary information, books, magazines, journals etc. will be used by researcher to accumulate
in-depth information about the topic. Thus, both are consider useful sources of data collection
and help a researcher to collection appropriate and in-depth information which is related with the
topic.
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Sampling:
For selecting sample size from total population, there are two method which is
probabilistic and non-probabilistic. According to the topic, probabilistic sampling will be used by
researcher because it not require maximum cost, time and resources of a researcher. On the other
side, non-probabilistic method is not useful for this project because it take more time and
resources of an organisation. With the help of probabilistic sampling 50 respondents will be
taken into consideration (Jha and Varkkey, 2017). It is the important method which includes
about the selection of respondents from the large number of populations to ascertain their views
over the research topic. The two different method which can be used in this process is known as
random and non-random sampling. The method which is used for the selection of the
respondents in this research is known as random sampling. This is the process where respondents
are selected from the large number of population on random basis.
Research ethics:
This is the approach which includes the process of conducting the research in ethical
manner. There are large number of techniques are used in ethical manner to gather the
information which is more authenticate in nature. This will provides an opportunity to provide
better and adequate recommendation on the research topic. The importance of this concept is
ascertain in the nature that it help to protect the right, welfare and dignity of the research
participants. The major focus while conducting the research is upon brining of the confidentiality
of the information which is shared by the different respondents.
Research reliability and validity:
It is the most important aspect which governs about the aspect that research is needed to
be done with reliable and authenticated manner. The main reason behind the ascertainment of the
aspect is about getting accurate results which help in future to be more successful. Surety of the
reliableness and validity of the matter help in the attraction of the readers attention. Along with
appropriate information references and citations is also provided which shows the source from
where information is gathered by the researcher in the process of collection of authenticate
information (Zajda, 2015).
Questionnaire
1. Do you think that there is a connection between Global business and global politics?
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Ans 1
(A) Yes
(B) No
Q2. What is the main link between Global business and Global politics?
Ans 2
(A) Job creation
(B) Infrastructural development
(C) Attract investment
Q3. What are the key benefits of Globalising business?
Ans 3
(A) Market expansion
(B) Higher profitability
(C) More flexibility
(D) Less dependence on one country
Q4. According to you, which of the following is key disadvantage of globalisation?
Ans 4
(A) Issue related to cultural difference
(B) Security of company's data
(C) Less control to management
Q5. Do you think that Globalisation helped HSBC in expansion of their business?
Ans 5
(A) Yes
(B) No
Q6. Do you think that negative global politics can made unfavourable influence on Global
businesses?
Ans 6.
(A) Yes
1. Do you think that there is a connection between Global business and global politics?
Ans 1
(A) Yes
(B) No
9

Q2. What is the main link between Global business and Global politics?
Ans 2
(A) Job creation
(B) Infrastructural development
(C) Attract investment
Q3. What are the key benefits of Globalising business?
Ans 3
(A) Market expansion
(B) Higher profitability
(C) More flexibility
(D) Less dependence on one country
Q4. According to you, which of the following is key disadvantage of globalisation?
Ans 4
(A) Issue related to cultural difference
(B) Security of company's data
(C) Less control to management
Q5. Do you think that Globalisation helped HSBC in expansion of their business?
Ans 5
(A) Yes
(B) No
Q6. Do you think that negative global politics can made unfavourable influence on Global
businesses?
Ans 6.
(A) Yes
(B) No
(C) Can't say
Q7. How can HSBC overcome the challenges raised by Globalisation?
Ans 7.
(A) Hire management consultation firm
(B) Rely on local talent
(C) Rely on expatriate
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Q8 Globalisation helped HSBC in increasing their profits or expand their market?
Ans. 8
(A) Enhanced their profit
(B) Market expansion
(C) Both
(D) None of the above
Q9. What are your views on the challenges raised by relation between global politics and
global(B) No
(C) Can't say
Q7. How can HSBC overcome the challenges raised by Globalisation?
Ans 7.
(A) Hire management consultation firm
(B) Rely on local talent
(C) Rely on expatriate
Q8 Globalisation helped HSBC in increasing their profits or expand their market?
Ans. 8
(A) Enhanced their profit
(B) Market expansion
(C) Both
(D) None of the above
Q9. What are your views on the challenges raised by relation between global politics and global
Ans.
CHAPTER 4: DATA ANALYSIS AND INTERPRETATION
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Q1. Do you think that there is a connection between Global business and
global politics?
Frequency
(A) Yes 35
(B) No 15
Q2. What is the main link between Global business and Global politics?
(A) Job creation 15
(B) Infrastructural development 15
(C) Attract investment 20
Q3. What are the key benefits of Globalising business?
(A) Market expansion 35
(B) Higher profitability 5
(C) More flexibility 10
(D) Less dependence on one country
Q4. According to you, which of the following is key disadvantage of
globalisation?
(A) Issue related to cultural difference 25
(B) Security of company's data 15
(C) Less control to management 10
Q5. Do you think that Globalisation helped HSBC in expansion of their
business?
(A) Yes 45
(B) No 5
Q6. Do you think that negative global politics can made unfavourable
influence on Global businesses?
(A) Yes 45
(B) No 3
(C) Can't say 2
Q7. How can HSBC overcome the challenges raised by Globalisation?
(A) Hire management consultation firm 10
(B) Rely on local talent 10
12

(C) Rely on expatriate 30
Q8 Globalisation helped HSBC in increasing their profits or expand their
market?
(A) Enhanced their profit 20
(B) Market expansion 15
(C) Both 10
(D) None of the above 5
Q9. What are your views on the challenges raised by relation between global
politics and global business?
Ans.
Theme 1: There is a positive connection between Global business and global politics.
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Q1. Do you think that there is a connection between Global business and
global politics?
Frequency
(A) Yes 35
(B) No 15
Interpretation:
From the above graph, it has been observed that most of people which investigated for
this research are employees, suppliers and third party of HSBC. 35 out of 15 respondents thinks
that there is direct relationship between global business and global politics. This observation
helps in concluding that international businesses such as HSBC are most of the times impacted
by global policies.
Theme 2: Investment attraction is the main link between Global business and Global politics.
Q2. What is the main link between Global business and Global politics?
(A) Job creation 15
(B) Infrastructural development 15
(C) Attract investment 20
14

Interpreatation:
From the above graph it has been ascertained that the main link between global business
and global politics is investment attractions. Investment is the sum of amount which is invested
in some other global business. It is observed that 20 out of 50 which majority thinks that global
business of HSBC is linked with international policies because of attractive investment.
Theme 3: Market expansion is the key benefit of Globalising business.
Q3. What are the key benefits of Globalising business?
(A) Market expansion 35
(B) Higher profitability 5
(C) More flexibility 10
15

Interpretation:
Globalisation is a strategy which is used by an organisation in order to benefit in global
market. From the above graph and investigation, it has been analysed that market expansion is
the key benefit which is attained by companies like HSBC. The respondents which are selected
here are employees and third parties of HSBC who think that being globalise, this company is
attaining benefit of market expansion.
Theme 4: Issue related to cultural difference is key disadvantage of globalisation
Q4. According to you, which of the following is key disadvantage of
globalisation?
(A) Issue related to cultural difference 25
(B) Security of company's data 15
(C) Less control to management 10
16

Interpretation:
From the above graph, it is interpreted that the most impactful disadvantage which faced
by HSBC due to globalisation is issues between cultures. Being an international company, there
are various issues which are faced by HSBC, but among them different cultures of various
companies impacts the most.
Theme 5: Globalisation has helped HSBC in expansion of their business.
Q5. Do you think that Globalisation helped HSBC in expansion of their
business?
(A) Yes 45
(B) No 5
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Interpretation:
From the above graph, it has been concluded that most of the respondents think that
globalisation has helped in expansion of HSBC due to which this bank has enjoyed various
benefits such as market expansion and increased profitability. The response from the above
respondents is positive as they are well aware about the condition of HSBC and their benefits
from globalisation.
Theme 6: Negative global politics has made unfavourable influence on Global businesses.
Q6. Do you think that negative global politics can made unfavourable
influence on Global businesses?
(A) Yes 45
(B) No 3
(C) Can't say 2
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Interpretation:
From the above graph, it has been ascertained that the global politics has negative impact
on the business of HSBC. The reason behind this is that global politics includes politics of all the
countries in which this company is operating. This politics sometimes can be negative due to
which unfavourable impact is imposed on the company. The respondents from which this
research is conducted are employees, suppliers and third party persons and they think that HSBC
should develop strategies by which negative impact of global politics can be reduced.
Theme 7: By Relying on expatriate HSBC can overcome the challenges raised by
Globalisation.
Q7. How can HSBC overcome the challenges raised by Globalisation?
(A) Hire management consultation firm 10
(B) Rely on local talent
(C) Rely on expatriate
10
30
19

Interpretation:
HSBC is a multinational bank which is affected by various challenges such as global
politics, cultural differences and many more. These challenges can be overcoming by various
ways. From the above graph and investigation, it has been ascertained that the most effective
way by which challenges of globalisation can be overcame by HSBC is rely on expatriate. This
strategy is considered as the most effective and efficient way as this ensures that HSBC can
attain advantage of culturally diverse.
Theme 8: Globalisation helped HSBC in increasing their profits.
Q8 Globalisation helped HSBC in increasing their profits or expand their
market?
(A) Enhanced their profit 20
(B) Market expansion 15
(C) Both 10
(D) None of the above 5
20

Interpretation:
Globalisation is a concept which helps organisations in expanding their market and helps
in increasing their profits. These two benefits are the major advantages which any organisation
can entertain while being global. Globalisation is the key aspect for HSBC by which they work
in international market. They products and services of this company are sold in various countries
by which they continue to expand their market and ensure that their profit is adequately
increasing. The aim of the above graph is to ascertain the weather the most important advantage
to HSBC is enhanced their profit or market expansion. From the above graph, it has been
ascertained that 20 out 50 respondents think that increased profitability is the benefit which most
enjoyed by HBSC and not market expansion.
CHAPTER 5: CONCLUSION AND RECOMMENDATION
Reflection
After completing the above research, it is identified that there is a close relation between
global business and global politics as most of the factors of each are interrelated. While carrying
out the work I found it difficult to collect the most appropriate data as the research topic is wide
and different authors have different reviews on same. Also the allotted time to complete the work
was less which further restricted my choice of data collection.
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Recommendation
From the above analysed data and research recommended that risk and challenges is the
important part of the business. Globalisation is the must for the growth of the organisation and
risk is the essential part. To overcome from the challenges faced by the HSBC while operating
their business in different countries due to the different political situations is understood from the
points which are mentioned below:
 It is must for the management of the bank to pre analyse the political situations and laws
present in the particular nation. As this will provides an opportunity to ascertain that
current rules and norms of HSBC is familiar with the government regulations or not. This
step provides an opportunity to brought necessary changes in HSBC guidelines to match
with nations requirement.
 It is must for the organisation while they globalise their operations that follow the nations
employment law properly. It is recommended to the management of the organisation they
on timely basis they review the laws as nothing is missed from their side while operating
their business. This will help the organisation to bud trust and better relation with the
people and government of that nation. Overall, contribution this is seems on the
profitability and brand image of the bank.
Conclusion
It has been concluded from the above research that there is huge relation between the
global business and the politics. This will have both positive and negative impact upon the
organisation but depends upon the nature of the factor. Majorly, while organisation globalise in
different nation then seems to be the negative impact due to the reason of unknown culture and
determinants. The large number of factors which are noticed in the process of globalisation and
having their negative impact upon the business operations includes political, economical, social,
technological, legal and environmental. HSBC is multinational organisation, even then this
organisation has to face the negative impacts due to the inappropriateness of the political
behaviour. As per the analysis done above ascertained that UK government is strict in nature and
framed many laws and regulations which are must needed to follow while carrying operations. If
these are not followed then this will have negative impact upon their business and have to pay
the fine. It creates challenges in front of the bank in creation good brand image and goodwill.
The different type of laws and norms are made by the government for the effective regulation of
22

banking sector. In different nations, policies are different due to having different governments.
This will creates challenges in front of the management of the HSBC that they have to adopt
different approaches in accordance with the situations and laws present at such different nation.
23

REFERENCES
Books and Journals
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Costinot, A. and Rodríguez-Clare, A., 2014. Trade theory with numbers: Quantifying the
consequences of globalization. In Handbook of international economics (Vol. 4, pp.
197-261). Elsevier.
Docquier, F. and Rapoport, H., 2012. Globalization, brain drain, and development. Journal of
Economic Literature. 50(3). pp.681-730.
Hirst, P., Thompson, G. and Bromley, S., 2015. Globalization in question. John Wiley & Sons.
Rai, S.M., 2013. Gender and the political economy of development: From nationalism to
globalization. John Wiley & Sons.
Ritzer, G. and Dean, P., 2015. Globalization: A basic text. John Wiley & Sons.
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