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Explore the various functions of management at HSBC Bank, including planning, organizing, leading, staffing, and controlling. Discover how these functions contribute to the success of the organization.
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Welcome TO presentation
Function of Managementcont’d • Planning :HSBC’s new five-year strategic plan has as its first of eight imperatives: “brand management and corporate social responsibility”. The next step for HSBC is to make sure corporate social responsibility (CSR) is fully understood by all employees as a core part of the business. The HSBC Employee Environmental Fellowship Programmed, in conjunction with Earth watch, in part addresses this aim by HSBC staff participants developing into environmental ambassadors and mentors in the HSBC workplace.
Function of management cont’d • Organizing :HSBC is a universal bankand 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 7,200 offices in 85 countries and territories across Africa, Asia, Europe, North America and South America and around 89 million customers
Function of management cont’d • Leading :Over the century HSBC has proved that it can effectively compete with the changing market trends. In competitive markets, HSBC has proven its efficiency with its extraordinary customer care. From time to time HSBC has provided alluring schemes and offers to the customers and this has been a major reason behind its success
Function of management cont’d • Staffing • It is the function of manning the organization structure and keeping it manned. Staffing has assumed greater importance in the recent years due to advancement of technology, increase in size of business, complexity of human behavior etc. The main purpose of staffing for HSBC bank is to put right man on the right job Managerial function of staffing involves manning the organization structure through proper and effective selection, appraisal & development of personnel to fill the roles designed on the structure”. Staffing involves: • Manpower Planning (estimating man power in terms of searching, choose the person and giving the right place). • Recruitment, selection & placement. • Training & development. • Remuneration. • Performance appraisal. • Promotions & transfer.
Function of management cont’d • Controlling • It implies measurement of accomplishment against the standards and correction of deviation if any to ensure achievement of organizational goals. The purpose of controlling is to ensure that everything occurs in conformities with the standards. An efficient system of control helps to predict deviations before they actually occur. Therefore controlling has following steps: Establishment of standard performance. • Measurement of actual performance. • Comparison of actual performance with the standards and finding out deviation if any. • Corrective action.
Level of management cont’d • Top Level Management • It consists of board of directors, chief executive or managing director. The top management is the ultimate source of authority and it manages goals and policies for an enterprise. It devotes more time on planning and coordinating functions. • The role of the top management of HSBC bank can be summarized as follows - • Top management lays down the objectives and broad policies of the enterprise. • It issues necessary instructions for preparation of department budgets, schedules etc. • It prepares strategic plans & policies for the enterprise. • It appoints the executive for middle level i.e. departmental managers. • It controls & coordinates the activities of all the departments. • It is also responsible for maintaining a contact with the outside world. • It provides guidance and direction.
Level of management cont’d • Middle Level Management • The branch managers and departmental managers constitute middle level. They are responsible to the top management for the functioning of their department. They devote more time to organizational and directional functions. Their role can be emphasized as - • They execute the plans of the organization in accordance with the policies and directives of the top management. • They make plans for the sub-units of the organization. • They participate in employment & training of lower level management. • It also sends important reports and other important data to top level management. • They evaluate performance of junior managers. • They are also responsible for inspiring lower level managers towards better performance.
Level of management cont’d • Lower Level of Management • Lower level is also known as supervisory / operative level of management. It consists of supervisors, foreman, section officers, superintendent etc. In other words, they are concerned with direction and controlling function of management. Their activities include - • Assigning of jobs and tasks to various workers. • They guide and instruct workers for day to day activities. • They are responsible for the quality as well as quantity of production. • They help to solve the grievances of the workers. • They supervise & guide the sub-ordinates. • They are responsible for providing training to the workers. • They arrange necessary materials, machines, tools etc for getting the things done. • They prepare periodical reports about the performance of the workers. • They ensure discipline in the enterprise. • They motivate workers. • They are the image builders of the enterprise because they are in direct contact with the workers.
Skills of management cont’d • HSBC bank is following additional managerial skills. • Communication Skills • Communication skills are required equally at all three levels of management. A manager must be able to communicate the plans and policies to the workers. Similarly, he must listen and solve the problems of the workers. He must encourage a free-flow of communication in this organization. • Administrative Skills • Administrative skills are required at the top-level management. The top-level managers should know how to make plans and policies. They should also know how to get the work done. They should be able to co-ordinate different activities of the organization. They should also be able to control the full organization. • Leadership Skills • Leadership skill is the ability to influence human behaviour. A manager requires leadership skills to motivate the workers. These skills help the Manager to get the work done through the workers.
Skills of management cont’d • Problem Solving Skills • Problem solving skills are also called as Design skills. A manager should know how to identify a problem. He should also possess an ability to find a best solution for solving any specific problem. This requires intelligence, experience and up-to-date knowledge of the latest developments. • Decision Making Skills • Decision-making skills are required at all levels of management. However, it is required more at the top-level of management. A manager must be able to take quick and correct decisions. He must also be able to implement his decision wisely. The success or failure of a manager depends upon the correctness of his decisions.
Challenges & opportunities • Globalization to Respond • This organization is no longer constrained by national borders, world become global village. • Increased foreign assignment • Transferred to employer’s operating division in another country, Once there, you’ll have to manage workforce, aspiration from employees, and attitudes from those you are used to back home • Working with different people • Working with bosses, peers and other employees who were born and raised in different culture, to work effectively with them you’ve to understand how their culture, geographic and religion have shaped them. • Managing people During the war on terror • An understanding from OB concept such as emotions, motivation, communication and leadership can help managers to deal more effectively with their employees’ fear about terrorism
Challenges & opportunities cont’d • Managing workforce diversity • The people in this organization are becoming heterogeneous demographically, Work force diversity= whereas globalization focuses on differences between people from different countries, mix of people in terms of gender, age, race, and sexual orientation. • Improving Quality and productivity • World added capacity in response to increase demand. Excess capacity translate in increase competition, is forcing managers to reduce costs and, at the same time; improve the organization quality and productivity. • Improving Customer service • HSBC bank can contribute to improving their organization’ performance by showing that how employees’ attitude and behavior are associated with customer satisfaction. • Improving people skills • Designing motivating jobs, how creating effective teams, techniques for improving interpersonal skills from this HSBC bank.
Challenges & opportunities cont’d • Working in network organization • Global working through one link i.e. INTERNET, technology changes the people to work together and communicate at thousand miles, people can work from their home and non office locations. • Helping employees Balance work-life conflicts • Flexible Working hours, reporting time, creating opportunities for employees, job security, design workplace and jobs • Creating positive Work Environment • Human strength, vitality, right person appointed at right place, effort on what good for organization. • Improving Ethical Behavior • Manager shouldn’t place an order on which subordinate don’t agree Define clearly the right and wrong conduct Fair policy and appropriate system Increase confidence and trust over organization Have some logic against order you place to employees
Measurement of job satisfaction • Employee Opinion Surveys • Conducting employing opinion surveys with questions related to basic working conditions provides one measurement of job satisfaction • Focus Groups • Focus groups allow employees to share their opinions with human resources in face-to-face discussions with their peers.
Measurement of job satisfaction cont’d • Pre-Shifts • Pre-shifts – brief meetings among employees just prior to their scheduled working hours – shed light on job satisfaction as well. During pre-shifts, bank supervisors and managers conduct short, all-staff meetings to discuss daily • Employee Self-Evaluation • self-assessment questionnaires into employee performance appraisals is another way to measure job satisfaction in this business.
