Get free samples written by our Top-Notch subject experts for taking online Assignment Help services.
The main notion behind conducting this study is to shed highlight on how new trainees give proper induction and training development sessions to their team and what are the core things that need to be remembered while doing so. To explain each of the five tasks asked the company which has been selected by HSBC (Kakemam, and et.al., 2020). The completion of this task will help in understanding the meaning of leadership and management in the selected organization. In general, the term leadership denotes the way an individual leads the team for attaining the final objective. However, the term management denotes managing things in such a way that will lead to organizational development.
Leadership in terms of HSBC is a process through which employees influences other to accomplish goals and directs the company to make it more cohesive. As per the strategic leadership, the directors of the bank set up the target for sales in the different branches at the initial stage of the financial year, and new products are added to the services of the bank. The leadership teams introduce new products which increase sales and new customers also join the services of the bank. The leadership process at HSBC creates changes and uncertainty.
Managers play an important role in the business activity of HSBC and they are responsible for getting things done. As we know, our company is established to offer effective and efficient banking services to a wide range of people. The management is a key aspect of delivering the services by developing a vision for the business. Further, the management process at HSBC that helps to plan and budget to solve issues in banking services. However, it helps to reduce uncertainty and stabilize the process of work. Although, the managers and leaders are equally important for the stated organization (Golensky, and Hager, 2020). However, there is a difference between leadership and management as the leaders at HSBC bank influence the people whereas the managers make plans and achieve the objectives of serving customers. There are many people under the managers in banking staff as they are assigned to work as per the plan of the organization. Thus, the leaders and managers at HSBC play a very substantial role to develop their services and fulfilling the needs of their regular customers.
The leadership and management theories of HSBC mainly concentrate on the qualities of leaders and managers which are followed by the organization. For example, the plan development for HSBC is initiated with a management and leadership retreat. The participative leadership style encourages the decision-making process offered by subordinates and their style also includes the employee-centered leader at HSBC (Hassi, 2019). Our organization also used the theory of Blake and Mouton’s theory of leadership in which the leader in the bank understand the needs of other team members and their area of personal development. It helps the employees of the bank to put their opinions in front of their top-level management and consider changes accordingly.
The management of HSBC highly emphasizes the different customer groups like private banking, commercial banking, investment banking, and personal financial services. HSBC implements a scientific management approach as this method increase productivity among the employees. When the business grows rapidly, the business faces a shortage of workers. The management will have more knowledge about the employees and provide appropriate decisions about the work that should be done and motivate them as per the requirement and efficiency of the organization.
In addition to this, the leaders and management ensure the policies initiated by HSBC are considered the symbol of their culture. HSBC UK and its technology is a major stream for connecting with the customers that helps to provide better services (Kibbe, 2019). The management and leaders are highly updated to access the services including the online banking systems and password-protected keypads. The leadership and management theories at HSBC help to encourage employees to enhance their performance and deal with the changes in the business.
The managers of HSBC bank use performance management techniques to assess regularly assess the working status of employees also measure the complete effectiveness of HSBC’s workforce with the help of employees’ performance and identify the achievement of objectives. The management of HSBC uses workforce optimization which includes a plan to put the right people in the best category that maximizes the work outcome (Vasilescu, 2019). The leaders and managers at HSBC track the record of employees to know about their performance and identify the need for training to be more productive in the workplace. In addition to this, HSBC also implements a compensation package as a performance technique that helps to increase the morale of employees. Further, it increases the level of productivity, and superiors at the bank encourage employees to deliver the best quality. The contribution of performance technique also includes that HSBC uses an incentive-based program that motivates employees to be energy efficient and saves the expenses of a business (Uslu, 2019). It encourages them to put extra effort to achieve goals by using few costs and enhancing the level of profits.
In addition to this, the management of HSBC uses feedback from employees’ work and manages to consider the activities as per the given feedback. It helps to analyze the level of understanding and consider changes in performance as per the requirement of the bank. Thus, the performance management techniques used by HSBC bank help them to engage employees based on goal setting process and make sure the correlation with the target of the company.
One of the most difficult management challenges is to adapt leadership and management styles to the needs of the situation. The need for adaptability is particularly important in organizations that are rapidly changing and evolving. The leadership and management styles should change at HSBC to meet the needs of different situations found in HSBC. There are certain changes in leadership style that are required for meeting the needs are as follows:
Recognize the requirement- As a leader, an individual at HSBC must understand the need to adapt terms to changing situations. Provide training to employees regarding the change and set alignment as per the circumstances with ideas.
Be a purposeful leader and manager- It’s a challenge for leaders of HSBC to find the right balance between two sides of the same coin. There is a dynamic relationship between the followers and leaders and the need to process it deliberately which helps to meet the changes.
Creating a Plan-Planning is considered a major part of HSBC’s journey and it is important to change leadership style to rapidly changing situations like lack of consistency (Deshwal, and Ali, 2020).
The leader at HSBC with less empathy not able to develop a team for the other people and need to enhance their knowledge and make changes as per the different situations. The process of decision-making should be included at HSBC for managing transparency and taking suggestions from the employees regarding the situations. At the present time, HSBC plans to merge its four bands into three and it is considered one of the biggest changes. It can be considered with the leadership framework and make sure the clarity on accountability and scope for helping the transformation (Abun, 2021). However, leadership style should change as per the different people coming together to achieve goals. The differences of opinion affecting the situation and collective ideas impact the organization as a whole but there are no changes in the pay and conditions. Although, HSBC is experiencing a global restructuring which may cut many jobs and affect the wealth management of the people.
In addition to this, the management style also needs to change for handling the challenges faced by HSBC including that the company looking for developing modern techniques and providing knowledge to the employees. The Leaders and managers of HSBC should look at the policies which are conquered by the company and make certain changes while dealing with the outside market competitors.
The autocratic management style must be implemented during the difficult situation at HSBC as it helps to develop a structured environment for the company and create more opportunities to work on innovations (Adnan, and Valliappan, 2019). Further, they need to shift to a delegate management style where the managers of HSBC must give freedom to all people to think about meeting their needs without getting any approval from the managers. However, it needs full confidence to put skills and knowledge into the activities that help to make decisions and follow some rules to get things done.
In addition to this, the charismatic management style needs to change as it affects negatively the organization’s performance and the employees were not able to respond in a way for making changes in the decisions.
The leaders and managers of HSBC bank need an aspect of critical thinking and problem-solving skills to examine the customer’s issues as it can be achieved by developing teams. They need the ability to make the best decisions under pressure and work effectively in a complex hours which improves the performance of HSBC. First, we will look at the cognitive skills that strategic leaders and managers need (Lee, 2019). The strategic competencies of HSBC are critical for leadership and management success: the ability to motivate people; the ability to identify and resolve conflict; the ability to build and maintain relationships; the ability to think strategically; the ability to manage money; and the ability to build and manage projects at the bank. Some managers and leaders at HSBC who are not formally trained in strategic management may also develop the following “informal” strategic management skills: the ability to think strategically; the ability to identify and analyze problems; the ability to make decisions.
In addition to this, leadership, strategic thinking, analytical and quantitative skills, teamwork, and communication skills, are positive signs of improving the performance of HSBC (Davis, and Rahman, 2022). However, the evidence that leadership and management skills are the most important for performance is mixed. Some research on HSBC has shown that the best predictors of leadership and management performance are demographic factors such as gender and age, while other research has found that leadership and managerial talent are important for organization performance. The skills of a leader at HSBS include a positive attitude towards the employees that naturally create a healthy environment at the bank and employees are more productive. It increases organizational performance through respect and positive reinforcement among the employees at HSBC. As a manager of HBBC, one needs to have creative thinking for making decisions including conceptualization, foresight, and examining patterns for work that are ultimately beneficial for the business. Further, commitment is another skill of leaders and managers at HSBC which needed to be precise to deliver services to the customers along with the professional development of the business. Leaders and managers at HSBC need to be flexible with the acceptance of changes that are coming in the way of business (Prokhorova, Zalutska, and Us, 2021). The employees mainly appreciate the ability of managers which is considered a positive influence on organizational success. The skills of managers that need to be included are to request more responsibility at daily work in HSBC by taking initiative in the workplace.
As per the decisions of HSBC, employee motivation is considered a key to the success of the organization. The motivational theories offer a basis for developing an organization with a high level of motivation for achieving the goals of the company. Some key motivational theories are:
Maslow’s Hierarchy of Needs- This theory of motivation includes five-level of physiological needs, safety, esteem, self-actualization, and love and belonging. All of them can impact the actual satisfaction of employees at HSBC (Rodrigo, Ortiz-Marcos, Palacios, and Romero, 2022). An ability to analyze the needs and to ensure that it fulfilled positively can enhance the chances of success. Investing in the good of employees and their happiness can maximize satisfaction that boosts motivation and engagement which positively affects productivity.
McClelland’s Theory of Needs- This theory can be applicable at HSBC to identify the needs can that can be approached while working together. In this, we consider the needs for achievement, power as well as affiliation that impacts the behavior of an individual employee at the workplace (Shikalepo, 2020). The need for power considers an authority to influence and change the decisions of work that directly affects organizational success. However, the competition also motivates the employees to manage the needs for their status which affects HSBC’s reputation. First of all, we examine the motivational needs of the team to determine the needs which is the motivator for the business.
McGregor Participation Theory- The theory is applicable at HSBC where the people take pride in the work and consider it a challenge and employees are more likely to adopt a participative management style. Further, the managers use this approach and trust the employees of HSBC to take ownership of work which influences the success of the organization (Güntner, Endrejat, and Kauffeld, 2019). Theory X managers at HSBC mainly need to supervise the work of others and need constant direction in progress. It influences the performance of the organization and needs to apply theory Y which is an optimistic viewpoint for the people and it motivates them to develop their skills that suggest huge improvements in the business.
In addition to this, there is another business organization with which we experienced working like Lloyds Banking Group as they use different motivational theories to encourage their employees. It mainly includes the use of Vroom’s theory of expectancy which they use to enhance efforts by employees that ultimately increase the performance of the organization.
The management of HSBC has a plan as well as strategies that mainly focus on its execution of the strategy where the leaders manage the human resources and has direct control over the employees to accomplish the goals of the bank (Antosz, Rembiasz, and Verhagen, 2020). Some leadership theories are applicable at HSBC and it has an impact on strategic decision making including autocratic leadership where the leader is a decision-maker and there is no role for employees in decision making. Further, it can be used in different situations and HSBC and subordinates can not take risk of wasting their time by taking quick decisions. HSBC has democratic leadership that impacts the strategic decision making as it highly promotes the trust level among the leader and employees so the employees of HSBC are highly motivated for giving their opinions (Mansaray, 2019). However, the business environment of the present situation is highly competitive so it is important for banks not to get affected by any outside factors and make changes in the decisions. Some changes at HSBC allow the leaders and managers to make better decisions and it gives strength to the business.
In addition to this, the leadership style and management affect the strategic decisions of HSBC in such a way that the right leadership style is highly required when taking some strategic decisions. However, if HSBC did not adopt an appropriate leadership style that is considered a failure of the decision. They need to be aware of taking action on the leadership style while making strategic decisions. Modern techniques and a high level of competition should be employed for the best decision (Tudor Car, Kyaw, and Atun, 2018). The management of HSBC has differences of opinion among people like top-level, middle, or lower-level employees and they have varied viewpoint that clashes over the discussion. It creates a negative aspect for the strategic decision-making process in the workplace. Therefore, the management has a big role in performing activities and handling the customers directly which is very important for banks and their customers (Nani, and Safitri, 2021). It is important to take proper actions as per the requirement of customers and take appropriate decisions for offering services.
Thus, the leadership styles and management have a huge impact on the strategic decision that can turn out to be advantageous in making some effective decisions. However appropriate management leads to strategic decisions to accomplish the set goals of HSBC.
As per the present study, Ian Stuart who is the CEO of HSBC and is a great leader whose qualities and skills we are going to assess on this topic. The assessment of qualities and skills of Ian Stuart in achieving organizational success are given below:
Self-Managing Skills- As a leader, Ian act as a role model to their subordinates in each activity where they perform functions at HSBC. He shows self-control, and self-awareness with different traits and successfully manages to make sure the feeling that does not affect the decisions in any way to the business.
Effective communication skills- Communication is a very important part of HSBC and Ian Stuart is not only involved in sending messages and their subordinates but also replies to the employees. Further, these skills Ian ensure success by managing functionalities as well as operations to deliver better services (Singgih, and et.al., 2020).
Team Building Quality- Ian Stuart develop the teams for the business activities and the effectiveness of team building traits help to make sure the application of participative leadership approaches. The teams which are created by Ian with participative leaders have a high level of performance that helps to achieve objectives and increases the success of HSBC. However, Ian also participates in activities with other team members that increase the morale of employees and they are more productive during the tasks. This skill helps the employees to encourage as per the requirement of the situation and this quality increases the morale of others.
Learning Agility- As an effective leader, Ian at HSBC know how to add knowledge as well as experience for ensuring the adoption of changes that lead to the overall success of the business. Thus, the aspiration to learn and grow enhances skills of Ian and the application of modern techniques along with innovation manages to develop a positive work environment (Choudhary, and Paharia, 2018).
Effective Conflict Management- As an effective leader of HSBC, Ian must have the ability to handle conflicts without any harm to the relationships. By understanding the situation and taking cooperative measures he can take the best solution for the people and ensure the success of the organization.
Thus, in the assessment of skills, as a leader of HSBC Ian plays a very significant role to develop and grow in the competitive marketplace (Hechanova, Caringal-Go, and Magsaysay, 2018). The internal issues do not affect their performance and as a leader, he also tries to manage the situation with leadership and management skills. All of their qualities and skills of Ian help to achieve organizational success and influence others to deal with the changes. It creates a valuable impact on the performance of employees and other staff members that they offer the best services to the wide range of customers in the marketplace.
The term team development can be defined as the work which is done by a group of people towards attaining a mutual goal. To develop a team, a group has to go through five important phases which are formation, storming, norming, acting as well as adjourning which is also known as the Tuckman Theory. A lot of people usually get confused between the term group and team though there is a difference between the two. Group can be defined as an assortment of people who organize their endeavors although a team is a bunch of individuals who disburse mutual objectives.
A high-performance team can be defined as the synergistic communal elements which toil in the direction of achieving a shared objective or purpose which might be the short haul or long haul. Some of the important characteristics of a high-performance team that have been identified within HSBC are discussed in detail below:
A team leader is usually considered an individual who offers training, leadership as well as the right path to a team of people for the aim of attaining shared purposes. A good leader has to play several roles which include starting by creating a strong to attain the final goals. The leader of HSBC is also focused on achieving the same to develop the organizational culture (Liang, Shu, and Farh, 2019). Some of the important functions generally rendered by the leaders of HSBC bank in creating a high-performance team are discussed in detail below:
Considering the effect of the team on the organizational performance of HSBC first it will be important to know how many types of teams usually exist. Teams might be categorized within important sets which are venture team, self-administered team, and virtual team along with the functional team. Acknowledging the team which has been followed by the selected company that is a virtual team, this team generally eludes a gathering of people who cooperate from various geographic areas as well as depend on correspondence innovation like email, texting, and audio-visual or speech conferencing (Delice, Rousseau, and Feitosa, 2019). The various advantages which HDFC receives from using a virtual team are as follows:
Now considering the impact of the team on the organizational performance of HSBC are:
The company result indicates that cooperative critical thinking prompts better results. Individuals are bound to go ahead with well-balanced plans of action that lead to development assuming they have the help of a group behind them (Behzadnia, Alizadeh, Haerens, and Aghdasi, 2022). Working in a group supports self-awareness; increments work fulfillment and decreases pressure.
Based on the overall study it can be by now concluded that the leadership and management style of HSBS banks plays a very major role in shaping a proper induction program. It can also be identified from the study that a proper induction program helps in identifying an influential team within the company which in the end plays a major role in forming organizational development. The study has also successfully focused on all the mentioned learning outcomes which finally created an inductive report. With the help of this research, it has also been identified that a proper induction program also motivates the worker for both own and organ organizational development.
Get Better Grades In Every Subject
Submit Your Assignments On Time
Trust Academic Experts Based in UK
Your Privacy is Our Topmost Concern
Copyright 2023 @ Rapid Assignment Help Services
offer valid for limited time only*