HSBC’s history, mission and vision, core values and strategies provide a fundamental view of the dimensions of service quality using a variety of sources: official HSBC financial and corporate social responsibility (CSR) reports and publicly available critical articles on the company.
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.
Corporate, Investment Banking, and Markets: accelerate growth by enhancing capital markets and advisory capabilities focused on client service in defined sectors where HSBC has critical relevance