Managing Operations - HSBC Bank (UK) Essay Example | Topics and Well Written Essays - 1250 words

Managing Operations - HSBC Bank (UK) - Essay Example It was a considered a premier bank in the Asian region. In Japan, after opening its branch in 1866, the bank went on to become an adviser to the government on banking and currency. In 1888, it was the first bank to be established in Thailand, where it printed the country's first banknotes. Today HSBC proudly boasts of over 125 million customers around the world, with a diverse workforce of more than 260,000 people, and has successfully completed 140 years of its presence in China in 2005. Today UK has the biggest share of its operations with over 55,000 employees serving the bank customers. The value that is added by both operations management and operations strategy is fundamental to any organization. Providing services or goods are the basic forms of operational activities. All organizations try to provide a combination of product and service. Opening a bank account, taking a meal in a restaurant, visiting a hospital, buying a pair shoes, insuring a vehicle, a hotel stay etc. are all operations activities and their management is central to the successful provisioning of goods and services. HSBC, having a vast experience over the 140 years, has done a commendable job by being a friendly bank to the world community at large. Operations management has i... ource form an active component of any organisation having many types of needs which, at times, are affected by the motivational factors present in the internal and external environment of the organisation. Therefore, human beings work towards the achievement of their short-term or long-term goals and objectives. The organisation too expects certain standards of performance from its staff and certain goals are set by the organisation as well. For HSBC we'll be examining its performance against the following five performance objectives; Quality: John Ruskin an English Critic said, "Quality is never an accident; it is always the result of intelligent effort. There must be the will to produce a superior thing". This 'will-power' is encouraged amongst the human being to achieve a quality service standard. In fact the term quality often conveys different meanings to different people. The meaning of quality varies in different circumstances as well, for example, a car which runs smoothly on straight roads may not prove to be of top quality while running in the hilly stretches of bumpy roads. HSBC has set for itself the following Core Business Principles to deliver quality service to its clientele. Outstanding customer service Effective and efficient operations Strong capital and liquidity Conservative lending policy Strict expense discipline Morality in dealings HSBC says, "We aim to combine quality investment performance, first class service and value-for-money products1. It appears HSBC has put in practice what it preaches. HBBC was adjudged as the top ranking in the 'sub-custodian' category 'Global Finance' magazine's (Oct 2005) Best-Banks award-2005, in 12 countries and three regions for the quality of its services to global custodians. Speed: The starting point of