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HSBCs Quality of Service Strategy - Essay Example
Author : kathleenrunolfs
Pages 10 (2510 words)
This paper analyses the Quality of Service (QoS) strategy of HSBC, a global banking giant headquartered in London and with 9,800 branches (properties) in 76 countries and territories in Europe, Asia and the Pacific, Africa, and North and South America. Its 284,000 employees serve over 120 million worldwide customers who avail of the bank's range of financial products and services.
Using specific examples, QoS gaps are identified and show how these gaps are addressed and managed. In the process, key service encounters, potential failure points, and the management of service failure and recovery are likewise discussed.
HSBC was established as the Hongkong and Shanghai Banking Corporation in 1828 in China to service the trading and business interests of the British Empire. Over the years, the bank has grown through acquisitions in Asia, the U.S., Latin America, and the U.K. to emerge as a dominant force in providing financial services in a globalised world.
In 1999, the bank decided to use one name (HSBC) with its familiar red and white hexagon corporate symbol to establish a uniform international brand identity that has become an increasingly familiar site the world over, with its motto "The World's Local Bank" to emphasise global reach whilst maintaining its familiarity with the needs of local customers.
At the end of 2003, HSBC launched "Managing for Growth", a strategic plan that provides a blueprint for growth and development up to the year 2008. ...