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Introduction Of Global Business Strategic
The report presented below highlights the concept of international business environment in detail. Traditional marketing process has been modified with the emergence of globalization, thereby introducing new marketing aspects affecting overall organizational performance positively. Considering the scenario of HSBC Bank PLC, a study work is presented below to analyze the impact of global business environment regarding financial and investment services provided to corporate as well as individual customers. The cited company’s business environment have been analyzed in the report undertaking various techniques to examine various internal and external factors. List of benefits, opportunities and challenges have been covered to be included as a part of wider concept of globalization. HSBC Bank PLC is a prominent part of HSBC holdings having its headquarters in east London. It has well exploited various benefits of globalization by successfully operating in international business environment providing a strong defeat to its competitors in investment and banking industry(Gnosa, 2011). Moreover, the report also includes determining structure of different organizations existing in global market.
1. Techniques to analyse environment
Every organization that is existing within international business environment, needs to carry out analysis of internal as well as external business environment. HSBC Bank is a leading investment and banking organization, that has acquired a prominent position in European market by carrying out analysis of environment on regular basis. Number of techniques have been applied by the cited entity to study internal as well as external factors in detail. Each of these techniques have been mentioned below in detail:
SWOT is an abbreviation of Strengths, Weakness, Opportunity and Threats. Having a clear idea of factors existing within organizational environment has enabled the cited entity to align internal resources with that of external agents including opportunities and threats confronted before HSBC Bank from external sources (Motohashi, 2015). It is one of the most common techniques applied by organizations operating on global basis.
Resources Analysis: Detailed information of resources possessed by organization that can be utilized in enhancing the organizational performance to achieve overall organizational objectives. Sources that supply various resources must also be studied in detail. It provides complete information for ensuring none of these are wasted and are utilized effectively.
PESTLE Analysis: Understanding external factors that are not in control of cited organization as well as other banking companies can be completed by undertaking PESTLE analysis. The cited organization has expanded its scope of operations and is thereby impacted to a greater extent by number of factors emerging within different national markets of globe. It highlights Political, Economical, Social, Technological, Legal and Environmental factors (Trompenaars and Hampden-Turner, 2011).
Porter’s Five Model Analysis: Michael porter highlighted five important aspects of competitive environment that help in analyzing the extent of competition prevailing within banking and investment industry. Having a knowledge of new entrants and bargaining power of creditors can help in framing modified policies to sustain in competitive environment.
A) Analyzing micro and macro business environment
HSBC Bank is existing within banking industrial environment that is recognized as its macro environment whereas internal environment within its own organizational structure is defined as its micro environment. Micro environment consists of internal resources, core competences, strategies, etc. Whereas external environment consists of factors that are beyond the control of cited banking corporation. Understanding of internal business environment can be completed by SWOT Analysis and PESTLE analysis for studying external business en