Read a WSJ (Wall Street Journal) article that reports on a topic related to corporate social responsibility.
Succinctly, write a critique of the article in this discussion forum.
The approximate length of a discussion forum response should be about 200 words, 20 lines.
Succinctly summarize the article that you have selected.
Write about the impact of what you have read on the triple bottom line (e.g., profit, people, planet).
e brand image of the company has been affecting the relationship between the consumers and the producers in the market. Everyone knew that maintaining brand image brings success to the organization and HSBC was equally strong to get that image. It managed to accommodate the variety at the product at local and international level. This also helps in establishment of a reputation, which is quite essential for the company to be familiar and for the market to react favorably with the company (HSBC partnering with Discovery on sponsorship, 2003). The brand image helps to hold associations which are strong, favorable and unique. It also helps in tying up with stronger companies and gain reputation globally.
HSBC is already a brand name which is recognized all over the country. Yet I have come up with my own assessment and some recommendation for HSBC, on the areas that I have covered so far. Like- HSBC has very few numbers of branches in The UK. They should expand their branches more in Dhaka as well as in the whole country. This will not only increase their business area but also give chance to serve more customers (Philbin, 2007). They are more concerned with the global and corporate customer group. In addition to that, they can also give some special service and facilities to other customer groups as well for example, try a form of MPESA transaction that has been successful in Kenya. HSBC has always stepped ahead in terms of bringing new technological advantage in products and services. They also put focus on providing and ensuring quality service to all of their customers. Even though The UK Bank has many rules and regulation for the banks operating in the UK, but then also competitors are increasing day by day in this sector (Langston, 2012). So considering this factor they should have proper strategic plans, both short term and long term, so that they can face any type of challenge and their business can have smooth running.
The management of HSBC in the UK should put special attention to reduce the coordination gap between front and back office (Philbin, 2007). This problem can have serious impact on their service as well as on their image. HSBC has some sort of hidden charges and interests in their loans and credit facilities. These things hamper customers and may create some negative feelings towards them. So these sorts of fees or interests should be clearly defined to the customers. The main revenue of HSBC comes from the corporate banking category, which is one of the reasons that they don’t have varieties of loan categories. But most of the banks are earning revenue from the loan sector and they have number of loan categories (like- any purpose load is providing by Prime Bank). HSBC can also introduce different types of loan facilities for their customers. This can help their existing customers as well as can enhance new customers to them. They can plan further move to gain competitive advantage over the rivals (likewise the position of SCB is also very established in The UK). In pursuing advantage over rivals, they may pursue several competitive moves (Langston 2012). For exa