for Growth” strategy?
The HSBC managing for growth strategy is a plan that provides HSBC with a blueprint for growth and development. The key point of the strategy was to build on HSBC’s strengths and address it’s weaknesses. HSBC plans to deliver its strategy for growth by focusing on enhancing HSBC’s revenue generation culture, further developing its brand managing costs strategically , maintaining a prudent credit/market risk stance and investing further in people. The core of it is to focus on geographies where they see growth in this case primarily emerging markets. To reduce costs and stay competitive HSBC intended to downsize or hire contractual employees using strategies to manage their workforce requirements. The strategy when it comes to human resource management is to develop comprehensive values among their employees This strategy focuses on eight key areas as depicted in the table below. Brand| Continues to establish HSBC and its hexagon symbol as one of the top global brands for customer experience and corporate social responsibility| Personal Financial Services| Drive growth in key markets and through appropriate channels; emerging markets are essential markets.| Consumer Finance| offer both a wider product range and penetrate new markets, such as the emerging country markets. | Commercial Banking| leverage HSBC’s international reach through effective relationship management and improved product offerings.| Corporate, Investment Banking, and Markets| accelerate growth by enhancing capital markets and advisory capabilities.| Private Banking :| a focus on serving the highest value personal clients.| People| draw in, develop and motivate HSBC’s people.|
TSR| fulfill HSBC’s TSR target by achieving strong competitive performances in earnings per share growth and efficiency|
Some of the advantages of the strategy is that it grants focus in terms of where HSBC needs to place its...