Knowledge Management at Hsbc
KNOWLEDGE MANAGEMENT
PROJECT
TITLE: IMPLEMENTATION OF KNOWLEDGE MANAGEMENT IN HSBC
Under The Guidance of : Team Members:
Mrs. Teena Bagga Aman Arora (B-25)
Information Technology Faculty Anuj Sood (B-32)
Amity Business School Mohit Gupta (B-34) Sumit Kumar (B-41)
EXECUTIVE SUMMARY
Banking giant HSBC bills itself as ‘the world’s local bank’, a phrase no doubt intended to highlight the importance of local knowledge, combined with financial might that businesses need in their banking partners today. However, HSBC has had a chequered background with knowledge management (KM). For example, in 2002 it established a specialist unit to drive through a newly established knowledge-management strategy. One year and one management re-organization later and that unit had been disbanded in favor of a less centralized approach. But it certainly did not mean an end to KM at HSBC. Far from it. In the past, HSBC has undertaken such KM initiatives as knowledge audits and knowledge-capture projects, which were intended primarily to identify and ‘download’ the knowledge, experience and wisdom of ‘wise old heads’ before they left the business. Along with knowledge audit HSBC also used Knowledge café and Peer assist for knowledge management. Just as knowledge-capture projects make many members of staff feel valued (because such initiatives reflect the value that the organization places upon their knowledge, skills and accumulated experience) so does the introduction of flexible working – if it is done correctly, for the right reasons and staff are adequately supported.
TABLE OF CONTENTS
ABOUT HSBC 4
CHALLENGES FACED BY HSBC 5
STRATEGIES USED BY HSBC 6
TOOLS AND TECHNIQUES USED BY HSBC 8
PROJECT
TITLE: IMPLEMENTATION OF KNOWLEDGE MANAGEMENT IN HSBC
Under The Guidance of : Team Members:
Mrs. Teena Bagga Aman Arora (B-25)
Information Technology Faculty Anuj Sood (B-32)
Amity Business School Mohit Gupta (B-34) Sumit Kumar (B-41)
EXECUTIVE SUMMARY
Banking giant HSBC bills itself as ‘the world’s local bank’, a phrase no doubt intended to highlight the importance of local knowledge, combined with financial might that businesses need in their banking partners today. However, HSBC has had a chequered background with knowledge management (KM). For example, in 2002 it established a specialist unit to drive through a newly established knowledge-management strategy. One year and one management re-organization later and that unit had been disbanded in favor of a less centralized approach. But it certainly did not mean an end to KM at HSBC. Far from it. In the past, HSBC has undertaken such KM initiatives as knowledge audits and knowledge-capture projects, which were intended primarily to identify and ‘download’ the knowledge, experience and wisdom of ‘wise old heads’ before they left the business. Along with knowledge audit HSBC also used Knowledge café and Peer assist for knowledge management. Just as knowledge-capture projects make many members of staff feel valued (because such initiatives reflect the value that the organization places upon their knowledge, skills and accumulated experience) so does the introduction of flexible working – if it is done correctly, for the right reasons and staff are adequately supported.
TABLE OF CONTENTS
ABOUT HSBC 4
CHALLENGES FACED BY HSBC 5
STRATEGIES USED BY HSBC 6
TOOLS AND TECHNIQUES USED BY HSBC 8