BUSINESS ETHICS

Business Ethics: HSBC Bank



Business Ethics: HSBC Bank

Introduction

CSR is defined as the obligation of a company to exert a positive impact and to reduce its negative impact on the society. Several studies have demonstrated how information about CSR affects consumers such as their attitudes towards a company, brand, and retail store; purchase behaviours, identification with the company; and causal attributions. It enables companies to improve the way in which they run their business. Improve relationships with trading partners and comply with their social responsibilities. Expand their business internationally or into new markets. Corporate Social responsibility is about using marketing techniques for social purposes by transmitting the campaign among the people of society who are in need of anything or need any sort of assistance. Communication options have improved.

Common kinds of CSR plans encompass corporate assistance (or philanthropy), worker volunteerism, community relatives, evolving a spectacular boss for exact worker assemblies (such as women, older employees, or minorities), producing ecological improvements that exceed what is needed by regulation, and so on. Corporate social responsibility is a convoluted topic. There is no inquiry that the lawful, ethical, and discretionary anticipations put on enterprises are larger than ever before. Few businesses completely disregard social matters and problems. Most purport to chase not only aim of expanded incomes and earnings, but furthermore the aim of community and societal betterment (Archie 2008, pp. 28).

HSBC Bank is one of leading banks in the United Kingdom. It has around 3.5 million customers in the country. Its financial growth and performance is outstanding as its current share value is on the top among all the banks in the United Kingdom. As the banking industry is facing many challenges in the world, most of the banks are concerned about the customer journey experience and its potential information that provides them new customers and maximize their time value. Therefore, we can say that the CSR activities at the HSBC can be considered as a tool for gaining more customer base, market share and to minimize the competitive rivalry. At HSBC, CSR is the concept of creating a good sense of business. Basically, it means that in Corporate Social Responsibility: how a business should ethically behave and how it can contribute in the growth of the economy while improving the quality of life at workplace and their families including the society and community (William 2005, pp. 56).CSR Program at HSBC

Corporate social responsibility has been a recognized as an essential component of organization existence in contemporary age. CSR has been recognized as a fundamental objective of HSBC success in its 140 years of history. HSBC success is the main reason of investments and initiatives by HSBC directed towards employees, customers, and other stakeholders. HSBC has actively taken CSR as an opportunity to strengthen image in external communities that not only strengthened the brand equity of company but also added significant value in terms of business growth.

Corporate Social Responsibility (CSR) is decisive to HSBC success in China and in global ...