TITLE: IMPLEMENTATION OF KNOWLEDGE MANAGEMENT IN HSBC
Under The Guidance of :
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)
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 BENEFITS TO THE HSBC 11 KNOWLEDGE MANAGEMENT SUCCESSFUL IN HSBC 12
HSBC (abbreviation origin: the "Hongkong and Shanghai Banking Corporation") was founded in the former British colony of Hong Kong (in 3rd March 1865), it is a British multinational banking and financial services company headquartered in London, United Kingdom but founded in China. As of 2011 it was the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine. HSBC is a universal bank and is organised within four business groups: Commercial Banking; Global Banking and Markets (investment banking); Personal Financial Services (retail banking and consumer finance); and Global Private Banking. It has around 7,500 offices in 87 countries and territories across Africa, Asia, Europe, North America and South America and around 100 million customers. As of 30 June 2010, it had total assets of $2.418 trillion, of which roughly half were in Europe, a quarter in the Americas and a quarter in Asia . The HSBC Group operates as a number of local banks around the world, which explains its advertising tagline "The World's Local Bank." In response to ongoing discussions about the survival strategies for banks, and the suggestion of "Living Wills" HSBC explains its structure as "separately incorporated and capitalised" the structure is based on a lead bank in each region .The hexagon symbol was originally adopted by The Hongkong and Shanghai Banking Corporation as its logo in 1983. It was developed from the bank’s house flag, a white rectangle divided diagonally to produce a red hourglass shape.
CHALLENGES OF KNOWLEDGE MANAGEMENT
Most often knowledge lies within an organisation implicitly, out of sight, undervalued and underused. Often, it leaves the building when the employees walk out of the company along with them....
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