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

Managing Operations - HSBC Bank (UK) - Essay ExampleIt was a considered a premier edge in the Asian region. In Japan, after opening its branch in 1866, the bank went on to become an adviser to the goernment on banking and currency. In 1888, it was the first bank to be established in Thailand, where it printed the countrys 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 sh ar of its operations with over 55,000 employees serving the bank customers.The value that is added by both operations circumspection and operations strategy is fundamental to any organization. Providing services or goods are the basic forms of operational activities. All organizations try to contribute a combination of product and service. Opening a bank account, taking a meal in a restaurant, visiting a hospital, buyin g 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 macrocosm 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 intragroup 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 well be examining its performance against the following five performance objectivesQuality John Ruskin an English Critic said, Quality is never an accident it is always the result of intelligent eff ort. 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 diverse 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 potent and efficient operations Strong capital and liquidity Conservative lending policy Strict expense disciplineMorality in dealingsHSBC says, We count 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 magazines (Oct 2005) Best-Banks awa rd-2005, in 12 countries and three regions for the quality of its services to global custodians. Speed The starting point of