HSBC’s vision statement: “We aspire to be one of the world’s great specialist banking groups driven by commitment to our core philosophes and values”; HSBS’s mission statement is ”Through an intentional network linked by advanced technology, including a rapidly growing e-commerce capability; HSBC provides a comprehensive rage of financial services; personal financial services; commercial banking; corporate, investment banking and markets; banking; and other activities.” Their mission statement is concentrated on what services it provides rather than in what ways will they provide to customers. It could be changed into something more than just a specialist in banking and relate it to be a sustainable company with a better CSR. Words such as
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Positive externality in this case means the positive affiliation/effects it will bring to the third party from a business and social optimum equilibrium level will only be reached when the goods and services are produced and purchased from either producer or customer that bring benefits to the whole society. Both McDonalds and Coca Cola don’t provide the goods that are actually beneficial to the people but the services they do add on a lot of positive impression and trick customers to think by consuming their products will contribute in the charitable things they’re doing. This gives the customers an excuse to purchase the unhealthy or even harmful products and therefore used as a business strategy to increase the market share and growth. By achieving a good CSR, it will add on incentives for people to contribute in the company’s economic development because they believe the more the company gets, the more they will do to benefit the …show more content…
Therefore, even though HSBC actually provides convenience for the society, still less people will trust the bank and have their property looked after there. Being corporate socially responsible can only bring benefits for the company and this development do not require risks at all unlike the other ones such as market, product development. Market development is expanding new market segments in existing market; product development means selling new products in original market. These two are categorized into Ansoff strategy that is used to help businesses plan and set objectives, however they’re both risky growth strategies that can sometimes make it difficult to become successful if not demonstrated correctly. When considering the actions to have a good CSR, ethical objectives can be implemented first; they are specific goals and are closely related to CSR. Corporate social responsibility is broader and less specific than ethical objectives; companies who attempt to have a good CSR will have the name of “corporate citizen” in all matters of acting responsibly, honestly with customers and employees and in a manner that benefits society as a whole. If HSBC decided to act with greater CSR, it is more likely to have a sustainable business model and be a valued part of the society. This may be relatively difficult for
Positive externality in this case means the positive affiliation/effects it will bring to the third party from a business and social optimum equilibrium level will only be reached when the goods and services are produced and purchased from either producer or customer that bring benefits to the whole society. Both McDonalds and Coca Cola don’t provide the goods that are actually beneficial to the people but the services they do add on a lot of positive impression and trick customers to think by consuming their products will contribute in the charitable things they’re doing. This gives the customers an excuse to purchase the unhealthy or even harmful products and therefore used as a business strategy to increase the market share and growth. By achieving a good CSR, it will add on incentives for people to contribute in the company’s economic development because they believe the more the company gets, the more they will do to benefit the …show more content…
Therefore, even though HSBC actually provides convenience for the society, still less people will trust the bank and have their property looked after there. Being corporate socially responsible can only bring benefits for the company and this development do not require risks at all unlike the other ones such as market, product development. Market development is expanding new market segments in existing market; product development means selling new products in original market. These two are categorized into Ansoff strategy that is used to help businesses plan and set objectives, however they’re both risky growth strategies that can sometimes make it difficult to become successful if not demonstrated correctly. When considering the actions to have a good CSR, ethical objectives can be implemented first; they are specific goals and are closely related to CSR. Corporate social responsibility is broader and less specific than ethical objectives; companies who attempt to have a good CSR will have the name of “corporate citizen” in all matters of acting responsibly, honestly with customers and employees and in a manner that benefits society as a whole. If HSBC decided to act with greater CSR, it is more likely to have a sustainable business model and be a valued part of the society. This may be relatively difficult for