Differentiation is another strategy which HSBC may be able to implement into their business. This strategy adds perceived value to a product, it is essential for HSBC to identify who they are targeting with the new strategy. For example, if it was to implement the high technology causing problems for a generation of people using the banks, then the strategy would be aimed at the people ages 60+ (HSBC, 2016). Differentiated strategy is about understanding the consumers’ willingness to pay for a value added product (zimmermann et al., 2007). HSBC would need to understand their market fully, a change in value added price may move for a shift into a different segment, this change would impact the whole business and how stakeholders viewed the company (Bowman, Asch, and Asche, 1995).
The final strategy is the customer centric business model, 61% of bank executives say that a …show more content…
This is the case with every strategy within businesses, they must have previously assed the culture before deciding on the final strategy (Mavin and Robson, no date). HSBC vision is to be connected to customers, communities, regulators and each other (Gulliver, 2016). This works faultlessly with the new sustainable strategy to make customers the centric of the organisation as it coincides with the values of HSBC. Organisational structure refers to the line of authority within the businesses. A structure is dependent on a the organisations objectives and strategy (Do you know this term?, 2016). HSBC work on a structure which requires a many layers of management, this is called a tall structure, in terms of width this refers to how centralized the organisation is in terms of management, for HSBC case it is decentralised as the power is entirely transferred down the
The final strategy is the customer centric business model, 61% of bank executives say that a …show more content…
This is the case with every strategy within businesses, they must have previously assed the culture before deciding on the final strategy (Mavin and Robson, no date). HSBC vision is to be connected to customers, communities, regulators and each other (Gulliver, 2016). This works faultlessly with the new sustainable strategy to make customers the centric of the organisation as it coincides with the values of HSBC. Organisational structure refers to the line of authority within the businesses. A structure is dependent on a the organisations objectives and strategy (Do you know this term?, 2016). HSBC work on a structure which requires a many layers of management, this is called a tall structure, in terms of width this refers to how centralized the organisation is in terms of management, for HSBC case it is decentralised as the power is entirely transferred down the