ACCT2542 - Business Studies HSC Assessment Task No 4 Global Business HSBC By Lincoln Wu Executive Summary With the quickened pace of globalisation

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Business Studies HSC Assessment Task No. 4 Global Business - HSBC By: Lincoln Wu Executive Summary With the quickened pace of globalisation, many businesses has had new windows of opportunities to expand into new markets and operate on a much larger scale then it would be jus by operating locally in the country of its origin. However, globalisation also presents harsher challenges and more rigid obstacles. The globalisation process is aided by drivers of globalisation; these are such processes such as the deregulation of financial markets, advancement of new technology and also increased competition. As good as these processes may seem, yet they are all important obstacles which a business has to tackle in order to survive the ordeal. However, the obstacles of globalisation should not be viewed as merely a challenge, but rather stepping stones and catalysts for the future success of the business. This report examines HSBC Holdings plc as well as its Australian Subsidiary to give an insight into the challenges of globalisation and also the fruits of globalisation. Not only so, its shows the process of growth and the reason for which HSBC choose the path it chooses till today. The report gives detailed description of HSBC’s global operations, detailed analysis of its opportunities and challenges it faces as a global business, as well as some of the strategies the business utilizes to conquer the challenges.
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Business Studies HSC Assessment Task No. 4 Global Business - HSBC By: Lincoln Wu Brief History: Hong Kong and Shanghai Banking Corporation Ltd commonly known as HSBC was founded in 1865, which at the time its aim was to provide specialist banking service to the business communities of the Chinese Coast. The first bank opened in Hong Kong in March 1865. One month later, it opened its first branch on the shores of mainland China (Shanghai). Soon after its opening success, HSBC broadened its reach into the wider markets and changed it aim to be the “world’s local bank”. Globalisation Globalisation has been an important driver and factor for the success of the HSBC group. Globalisation is often seen as the increase in interdependence of nations, by reducing barriers for trade to promote increase flow of funds, labour and capital across the globe. This is directed through TNC’s such as HSBC and is dispersed via the aid of technology. In doing so, business leaders as well as national leaders hope to create one single free trading bloc. Slowly, this changed the nature of markets, and business operations and consumer preferences to a great extent. Businesses are increasingly providing services to a global consumer group. HSBC began its reach for the world market not long after its establishment. By the end of 1880, it has subsidiaries in most essential parts of Asia, such as India (1867); Philippines (1875); Singapore (1877) and then on to other cities such as Malaysia, Myanmar, Sri Lanka and Vietnam. In the year 1888, it was the first bank to be established in Thailand, and
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This note was uploaded on 03/05/2012 for the course ACCT 2542 taught by Professor Knapp during the Three '11 term at University of New South Wales.

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ACCT2542 - Business Studies HSC Assessment Task No 4 Global Business HSBC By Lincoln Wu Executive Summary With the quickened pace of globalisation

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