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HSBCs Quality of Service Strategy - Essay Example

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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. Its strategy builds on HSBC's strengths and addresses the areas where further improvement was considered both desirable and attainable.
HSBC's strategic vision is to be the world's leading financial services company: preferred and admired by customers, dynamic in its profitability and corporate growth, and recognised for giving each customer a fair deal.
The bank will build on its strengths, what it calls its core values, which have been identified as follows:
Emphasis on long-term, ethical client relationships;
High productivity through teamwork;
Confident and ambitious sense of excellence;
International outlook and character;
Creativity; and,
Customer-focused marketing.
Its strategy and core values are translated into strategic imperatives that cover the four customer groups already mentioned above:
Brand: make HSBC and its hexagon symbol one of the world's leading brands for customer experience and corporate social responsibility.
Personal Financial Services: drive growth in key markets through appropriate channels to make HSBC the strongest global player in personal financial services.
Consumer Finance: extend the reach of the business to existing customers through a wider product range and penetration of new markets.
Commercial Banking: make the most of HSBC's international customer base through effective relationship management and improved product offerings in all the Group's markets.
Corporate, Investment Banking, and Markets: accelerate growth by ...Show more


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.
Author : kathleenrunolfs
HSBCs Quality of Service Strategy
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