Evaluation of Leadership Theories and Approaches for HSBC Holding Plc

This report delves into the analysis and evaluation of various leadership theories and approaches, focusing on their application within HSBC Holding Plc. It examines the contingency theory, action-centered leadership, and transformational leadership, highlighting their relevance in different organizational contexts. The report also explores key operational management approaches, including Total Quality Management (TQM), Continuous Improvement (Kaizen), and the Six Sigma approach, detailing the roles and responsibilities of leaders and managers in each. Through this analysis, the report underscores the importance of effective leadership in driving organizational success and improving productivity within a financial services company like HSBC. The conclusion emphasizes how these theories can benefit leaders and managers, enabling them to enhance their decision-making and improve overall performance, ultimately contributing to the company's sustained success. The report utilizes several academic references to support its findings.

Analysis and evaluation of the chosen theories and approaches to leadership
One of the chosen theories of leadership is the contingency theory of leadership which is mainly
based on the approach to a specific situation within the organization at a particular period. The
contingency for the organization’s leaders can be exercised at different periods to some
situations like to develop workforces co-ordination while working in various groups, to improve
productivity from the workforces, to simplify employee retention in the organization, to secure
the fact that the workforces take proper accountability for their work approach, etc (Zogjani and
Raçi, 2015).
Moreover, the action-centered leadership theory explains the relations between leaders and
managers and states that how both the leaders and managers can handle the three factors such as
team tasks and individuals that help to control this model. This model is compatible best with
businesses where there needs a sense of support and efficiency between groups. In addition, the
transformational leadership theory for leaders is the best fit for a company that aims to develop
and succeed at every point of its decisions of planning to ensure the fact that there is no
insufficiency of the abilities and qualities of leadership in the organization.

The key operational management approaches and their importance to operations
management and the roles and responsibilities of leaders and managers
The key approaches to operations management and the role that leaders and managers play are
explained below:
Total Quality Management (TQM): The importance of TQM for an organization like HSBC is to
be able to focus on the development and improvement, the performances, and increase the
quality of the functions and to assure the fact that there has maintained balance with every
process of the organization (Oakland, Oakland, and Turner, 2020). The roles of managers in
this approach are to ensure that an organization like HSBC focuses on the external customers and
internal customers and also on the developments of the organization and the production
processes. Conversely, the roles of leaders in this approach are to ensure the fact that leaders aim
to stay promised and engaged in their departments so that they can take measures to make a plan
for supporting the organization. Also, leaders can develop the processes of the organization by
measuring every functioning stage.
Continuous improvement or Kaizen: The ongoing development of the business function is
measured as the approach within the organization where developments are built on the overall
business role. This process aims to eliminate all the wastes from the system of the organization
so that developments can easily be made. The business will be able to the improvements and
disrupt the obstacles within departments by applying the process of Kaizen into the operations
management of the business. Managers can measure the rate of success by using this Kaizen
method and also can describe the scope of various tasks within the business (What is
Continuous Improvement (Kaizen)?, 2021). Besides, leaders can be able to reinforce the
assistants with any upcoming challenges and also to give assurance that work is handed over if
needed.
Six Sigma Approach: This approach is marked out as the method which focuses on different
functions that will help HSBC to discontinue the defects in its service processes. Through the
application of the six sigma approach, the organization will be able to gain the maximum
satisfaction of customers by segregating the defects in the market which helps the organization to
grow and attain its desired objectives (Javier Lloréns-Montes and Molina, 2016). The role of

managers in this approach is to provide proper support and motivation to the workforce and to
monitor the fact that whether the six sigma approach is implemented in the organization or not.
Furthermore, The leaders’ role is to supervise this approach through proper resources and
training, to mark out the projects of six sigma, and to identify the contribution of workforces to
the six sigma.
Besides these following approaches, there have many approaches like just-in-time inventory,
lean production, queuing theory, etc. which have importances in operations management.

Conclusion
The chosen company’s name is HSBC Holding Plc. which financial services encircling not only
merchant and commercial banking but also securities, capital markets, consumer financing, and
investment. Both the managers and leaders of HSBC play a greater role in making and
establishing this company as a reputed and successful company. Different types of theories like
situational leadership, systems leadership, contingency theory, Chaos theory, management by
objectives theory, etc can be helped the managers and leaders to perform their responsibilities
properly. Hence, there have some strengths and weaknesses in these theories which may
influence the organization’s conditions. Through the evaluation and analysis of these theories
and approaches, leaders and managers of any organization like HSBC can get benefitted and able
to improve its productivity.

References
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