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Requirement
Discuss Geo-Political Environment based on HSBC Holdings plc.
Solution
1. Geo-political environment in which HSBC operates
HSBC Holdings plc is a multinational banking and financial services company based in Britain. The company has its headquarters in London, United Kingdom. The bank has been estimated as the world’s fourth largest bank on the basis of the total assets. The company was first incorporated in 1866 and sees United Kingdom and Hong Kong as its home markets.
United Kingdom has is located in the Western part of the Europe and includes the northern one-sixth of the Ireland island present between the North Sea and North Atlantic Ocean. With a population of 64 million, it does not have any constitutionally defined official language. Primarily, English is considered as the main language. Other native languages to the Isles are Irish, Welsh, Gaelic, and Scots etc. Being an island nation, the country has a natural defensive barriers which is not present in the other European countries and all the decision makers are aware of the fact that these channels can be crossed by invading armies. Therefore Britain has to minimize the potential security threats that emanate from other sides and should try to prevent the hegemon rise. Britain has adopted a dual strategy of maintaining a bilateral relationship with the United States and also remains one of the strongest part of European continent (The United Kingdom’s Perspective | Geopolitical Futures, 2016). However, the Brexit has impacted the geopolitical factors of UK and has led to destabilization of the geopolitical relations in Europe. Without anchoring of Britain in Europe, the relationship between Germany and France will deteriorate and at the same time relationship between Europe and United States will be thrown in a total flux ("BREXIT - A GEOPOLITICAL PERSPECTIVE: The nail in the coffin for "Great" Britain?", 2016).
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2. Analysis of leadership in the company
The organization is managed by its Chief Executive. The company and its leadership has been structured into various board committees consisting of a number of directors and non-director members. This hierarchy is seen to continue with the directors having responsibility of the internal controlling operations of the bank. These directors have the responsibility of analyzing the efficiency of various areas present within in the bank.
The leaders of the bank proceed with ethical manner of controlling and stabilizing the beliefs and values of the bank. All the employees are considered in the tasks of decision-making and are brainstormed with better ideas of increasing the productivity of the company. This along with bringing efficiency in the results marks high personality of the employees of the bank. The organization has moved to all over United Kingdom operating a full service bank which is known for its effective and efficient quality and leadership management. The leadership management is seen to have driving the values and beliefs of the company in a brilliant manner (The art of leadership | HSBC Private Bank, 2015).
All the employees are encouraged to influences, inspire and communicate with people and has promoted the idea of exchange of knowledge throughout the company in form of feedback and constructive criticism. The skills and attributes of every single employee is discovered so as to make them better leaders and to enhance the environment of the company in the market place. The employees are empowered to have self-initiative so as to foster a productive and effective working environment. The board of directors, management team and employees of HSBC have developed an effective strategy for allowing the company to grow at a sustainable rate.
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Place Your Order3. Strategies taken by the leadership in the context of geo-political environment
a. Proper Motivation
During any economic crisis time, it is important for any company to restructure or to reduce wages of their employees. During Brexit, the organization are looking forward to relocate their employees. Amidst this environment, the employees are tend to have a demotivating influence over themselves (MacDonald, S. (2016).. Therefore, HSBC needs to protect their managerial employees and conduct some coaching or special training programs for avoiding negative consequences and to motivate the staff. Due to economic crisis, the employees must be provided with advices as per the climate-based organizational communication. There is a need for HSBC to harmonize their motivating system according to the contextual changes (Glicken, M. & Robinson, B., 2013).
b. Take charge
The senior management and risk management department must build an internal trust among the employees so as to allow the organization to counter the interests of the employees along with handling the situation. HSBC should involve a new legal entity structure with a home base and apply to their local regulator for issuing a banking license. During this process, the management must maintain a healthy relationship with their superiors so as to increase transparency to discuss all the issues openly. (Kielkowski, R., 2013).
c. Reward System
With the change in marketplace, HSBC should not diminish the employees’ merit who contribute to the achievement of the organization. The employees, during the crisis, are seen to work better and therefore they must be held publicly for their contribution. This will help HSBC to increase the concentration capacity of the employees, even in difficult times.
d. Consensus Building
The top management of HSBC must cooperate well with their stakeholders and their employees so as to build a consensus among these. The process of consensus building should be a participatory process for strengthening the relationship of management, employees and stakeholders.
Conclusion
During the current geo-political environment of the United Kingdom, the financial sector has been hit the most. This has led to various changes in the structure and nature of the organization. HSBC being one of the largest bank of United Kingdom has been impacted adversely due to Brexit. The organizational leader must adopt to various strategies in order to deal with the changes in the organization owning to current situation (Macpherson, C., 2004)
References
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BREXIT - A GEOPOLITICAL PERSPECTIVE: The nail in the coffin for "Great" Britain?. (2016). Huffington Post India. Retrieved 26 October 2016, from http://www.huffingtonpost.in/entry/brexit---a-geopolitical-p_b_10566080
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The United Kingdom’s Perspective | Geopolitical Futures. (2016). Geopoliticalfutures.com. Retrieved 26 October 2016, from https://geopoliticalfutures.com/the-united-kingdoms-perspective/
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The art of leadership | HSBC Private Bank. (2015). Hsbcprivatebank.com. Retrieved 26 October 2016, from http://www.hsbcprivatebank.com/en/discover/news-room/2015/leadership
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Kielkowski, R. (2013). Leadership During Crisis. Journal Of Leadership Studies, 7(3), 62-65. http://dx.doi.org/10.1002/jls.21300
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Glicken, M. & Robinson, B. (2013). Treating Worker Dissatisfaction During Economic Change. Burlington: Elsevier Science.
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MacDonald, S. (2016). The impact of Brexit on the UK’s reputation, influence and soft power. Cultural Trends, 1-7. http://dx.doi.org/10.1080/09548963.2016.1241368
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Macpherson, C. (2004). To Strengthen Consensus, Consult the Stakeholders. Bioethics, 18(3), 283-292. http://dx.doi.org/10.1111/j.1467-8519.2004.00395.x
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