Table of ContentsSummaryIntroductionCritique of the organization in terms of its OL/KMS capabilitiesKnowledge management strategyKnowledge management process described through the 7S frameworkShared valuesStructureSystemsStyleStaffSkillsStrategyAdvancing knowledge and learning of the individual to institutionalizedHow HSBC uses knowledge and learning from business networksWhat Key people are explicitly involved in data agents KM/Olchief and monitoring STEP 7: Continuous assessment and corrective actionsTime scaleReference listSummaryThe sub-report underlying is a knowledge management case study of HSBC holding plc, a globally operating British holding company. This case study analysis has integrated the supporting frameworks and models such as McKinsey 7S model to analyze the knowledge management functions of HSBC and also integrated the SWOT analysis tool to briefly identify the strengths, weaknesses , opportunities and threats of its KM/OL System in order to support the formulation of the strategy. In the second part of the report, an overall strategy was proposed, based on an action plan, to develop a more appropriate knowledge management and organizational learning strategy for HSBC. Mckinsey's model was used as a framework and a comprehensive action plan was proposed for a period of two months during which the strategy is to be implemented to achieve the goals and objectives. Say no to plagiarism. Get a tailor-made essay on “Why violent video games should not be banned”?Get the original essayIntroductionHSBC Holdings plc is a British multinational banking and financial services company that is the 7th largest bank in the world by assets totals and its the largest bank in Europe according to 2016 data. Currently, the geographic location of HSBC's head office is London in the United Kingdom but it originates from Hong Kong. The origin of this bank is in Hong Kong and to some extent in Shanghai since it first opened its branches in Shanghai. Currently, HSBC has declared Hong Kong and the United Kingdom as its national markets. This banking company's network is based in 67 countries and territories in the Middle East, Europe, Asia, Africa, Latin America and North America and operates 3,900 offices worldwide. This banking company has a vision “to be the largest specialist banking group in the world and to be driven by fundamental philosophies and commitments as well as values”. The mission is "to use the international network connected by technology and provide comprehensive financial services, corporate investment, commercial banking, private banking and other financial services." The company has global markets and follows a long-term strategy to capture value from its international network. Its long-term strategy is based on two components: the development of an international network and investment in local heritage and retail. According to HSBC's annual financial statements, the company recorded a pre-tax profit of approximately USD 10.2 billion, was USD 0.5 billion lower in its pre-tax profit compared to the previous year. Furthermore, in 2017, revenues also decreased, as they amounted to USD 26.2 billion, which is USD 3.3 billion less than in 2016. The banking group has a global structure that offers the largest financial service and banking organization. This global structure connects it to 38 million customers with a network of 3,900 offices spread across 67 different territories and countries.This networkGlobal is focused on reviving knowledge management strategies to incorporate the use of new technologies and tools that can not only provide it with strategic advantage but will also help regain its financial strength. He participates in knowledge audits as well as knowledge capture projects to ensure effective knowledge transfer. The banking group places great emphasis on knowledge base skills, assets and resources that can help it increase the efficiency of its human capital. Criticize the organization in terms of OL/KM capabilities. Knowledge Management Strategy HSBC does not use any single knowledge management strategy, but it accommodates a combination of attractive knowledge management strategies. It uses the strategy of simple machines such as the use of training programs as well as seminars, it uses technology, uses communities of practice to capture and share knowledge, and also uses the strategy of process based models such than conceptual mapping. . Its simple mechanism strategy is effective and is based on training sessions, workshops, apprenticeships, etc. where some are face-to-face and some sessions are web-based. Its technology-driven knowledge management strategy is also effective when using IT and ICT systems. Each incorporated technology is different in nature, but the main objective is the organization, coding, distribution and maintenance of knowledge-based resources. Process-based and mind-mapping-based models are not as effective when mapping routines, knowledge as well as capabilities that are used as a tool to advance knowledge management. But here he ignored the importance of legislative and environmental elements. Knowledge management process described in the 7S framework Shared Values ​​HSBC's shared values ​​are based on building trust and lasting relationships with business stakeholders to generate value and returns for shareholders. It focuses not only on building connections, but also on organizational learning and knowledge management as key values. To support the value of connection and relationship building, HSBC is committed to using its global expertise as well as local knowledge with the aim of connecting multinational customers with products and services to meet their financial needs. StructureThe corporate structure of an overall structure, but when it comes to knowledge management, HSBC uses knowledge structure models. It is about acquiring and integrating knowledge from multiple sources and unstructured media and knowledge modeling helps it narrow the gap between knowledge acquisition and use. The main difference in its knowledge structure is that the knowledge model structure must represent knowledge so that this knowledge can be used in the problem solving process. Its structure therefore needs to acquire knowledge and knowledge retrieval needs to be improved.SystemsThe five key systems used by HSBC for knowledge management include HSBC Share Point, Customer Vision, My Learning, HUB and HSBC Sametime. HSBC SharePoint is a platform used to share information across various operational areas in the form of documents, presentations and Excel sheets. The second systemImportant is Client Vision which is a global tool that records client details and manages data related to its clients. My learning platform is used to create tutorials and professional sessions. HUB is used to access the nitty-gritty details such as daily agreements and transactions. Additionally, HSBC Sametime is used for all HSBC employees to keep them informed. StyleThe style of knowledge management at HSBC is very collaborative and engaging as employees share information and knowledge and their views are also collected and used in changes. The entire company values ​​KM and OL and these learning-based functions are the key elements of its culture. Staff In order to support organizational learning and the development of a KM culture, management of staff plays a central role. The HSBC knowledge center helps motivate employees. But currently the company faces some challenges because its employees spend less than half of their time actually being productive. This becomes costly and frustrating for its management and employees is a problem which becomes a barrier to ineffective implementation of Km strategies. Skills In order to overcome demotivation and improve employee skills to participate in a performance-oriented culture knowledge, HSBC strives to be involved in the use of knowledge capture projects so that the staff member feels valued and imposes a positive impact on their skills, knowledge and accumulated experience. StrategyThe main knowledge management strategies currently used by HSBC include simple mechanism, technology, process-based technology. models and communities of practice for knowledge capture and sharing. Advancing knowledge and learning from the individual to the institutionalized. To ensure that all employees acquire the necessary knowledge and skills, the company is involved in the use of coaching and on-the-job coaching. mentoring techniques. Additionally, it also uses online learning and instructor-led workshops. This is how the acquisition of knowledge by employees is supported by a company, and certain technological tools such as knowledge ICT systems mapping are also integrated to ensure the provision of knowledge by the company to employees. On the other hand, the company also ensures that it collects information and knowledge from staff and its partners. As it is a global network, the company is involved in using local staff to provide local knowledge. The talent of staff from diverse backgrounds is considered crucial to HSBC's success. China office head Eric Yu said Peter Lee and Zee Tsungyung helped the company acquire local knowledge in the 1920s and 1930s. This represents that the company has a long history of acquiring local knowledge and their integration into the company. How HSBC uses business network knowledge and learning To acquire business network learning and knowledge by leveraging the company's suppliers and its partners' customers. , and employees, organize the knowledge café which facilitates HSBC in business processes and also helps it in improving the direction and growth of the company. Through the knowledge café, a company brings together all important stakeholders involved in its networks, such as suppliers, partners, customers and employees, andencourages creativity and openness in conversation about topics of common interest. It is organized as both a workshop and a meeting and takes place in an informal environment. During the knowledge café, participants are divided into groups to discuss issues, each participant is encouraged to share their experience and knowledge without any interruption, after each participant shares ideas, the group engages in a collective discussion and ideas and conclusions are exchanged. such a knowledge café helps HSBC to gather useful information and help from local staff who provide it with local information as it operates in diverse and very different markets such as Asia, Europe, America and the Middle East where executing the same strategy without cultural amendments can cause a setback. Moreover, such knowledge collection from network partners also facilitates the development of new connections and important corrections are made. Which key people are explicitly involved in KM/OLChief Knowledge Officer As the company places a lot of emphasis on knowledge management and making HSBC a learning organization, it has many important HR positions to support this initiative. Mr. Larry Cambell is the company's Chief Knowledge Officer. As Chief Knowledge Officer, he is responsible for ensuring that HSBC maximizes its value to achieve its goals and objectives through the effective use of knowledge. It is the custodian of knowledge management practices and is responsible for the management of intellectual capital. HR Manager Laine Arden is the head of human resources and former director of human resources. She is responsible for managing the employee engagement program to align all HR strategies and tactics with the core value of knowledge management. Chief Data OfficerThe Chief Data Officer is also a very relevant position that helps support knowledge management at HSBC. This position is based on supporting the business with user experience and knowledge of data modeling techniques so that data can be communicated effectively with the most important stakeholders in the network. SWOT Analysis Strengths combination of strategies, simple mechanism, technology, process-based models, and communities of practice knowledge capture projects making the staff member feel valued and leaving a positive impact on skills, knowledge and use experience effective local staff and effective acquisition of local knowledge effective use of knowledge café Weaknesses process-based models and mapping are not as effective as they should be and knowledge retrieval is very difficult, employees are less productive and it is quite costly and frustrating for management. The knowledge model structure does not represent knowledge and cannot be easily used in the problem-solving process. Opportunities to acquire new technology systems and support training programs as an employee motivation role. in KM is very important, communities of practice must be improved and a common set of frameworks and ideas must be offered to members for them to use in their work context. One should engage in knowledge audits to analyze knowledge gaps and help align strategies with business objectives. at the knowledge cafe he can start using peer assistanceto collect information from various departments as well as teams for any new project inactivity, which can also help build a knowledge base and save time and costs. Threats The structure is not effective in supporting knowledge recovery which can negatively influence the entire system in the implementation of knowledge management strategies, the company has ignored the importance of legislative and environmental elements which may call into question its image of sustainability. not managed in a timely mannerKnowledge Management StrategyStructureIt has been revealed in the previous part of the analysis that the structure is not effective in supporting knowledge and it has proven to be a threat to HSBC. A weakness was also mentioned: the structure of the knowledge model is not capable of representing the knowledge that can be used in the problem-solving process. In this regard, a knowledge modeling structure will be incorporated that will represent the knowledge to be used in problem solving, and in this regard, HSBC not only needs to acquire knowledge, but it also needs to model the knowledge according to the sector . required format.SystemsAnother weakness of HSBC's knowledge management system is that the knowledge retrieval system is not strong. In order to overcome this weakness and prevent it from becoming a threat, the company can take advantage of the opportunity to incorporate new technologies into the systems. As the company's repository is already very large, it has become difficult to know the price of knowledge and retrieval of knowledge poses many problems. Thus, the knowledge retrieval system will be strengthened and dynamic knowledge extraction will be encouraged.StyleIn order to overcome the challenge and weakness of low employee motivation andDue to their lack of interest in being productive, sharing style information will be used to improve business collaboration. A style will be adopted in which the objectives of knowledge management will be communicated, peers will be encouraged to ask questions, analysis will be adopted and feedback will not only be presented, but supportive actions will also be taken. StaffIt has proven to be The company's strength is using knowledge capture projects that make its employees feel more valued and that have a positive impact on their skills, knowledge and experience. But at the same time, the company's biggest weakness is that its employees do not participate effectively in knowledge management systems and are not fully productive. So, in this regard, the HR manager will be responsible for executing effective motivation programs. Skills In order to improve the skills needed to use knowledge management effectively, a knowledge audit will be incorporated. This knowledge audit will help HSBC identify the effectiveness of its knowledge-based assets and develop strategies to manage human capital most effectively and efficiently. In order to support skills, knowledge sharing culture will be developed to improve overall organizational performance.StrategyIt was revealed that simple mechanisms technology, technology, process-based models, knowledge cafe and knowledge communities practices are the strong points of the company. because its strategy turns out to be very united. But in order to take advantage of the opportunities offered by the market, HSBC can integrate the use of peer assistance as a major element of itsstrategy. This can help in gathering information from peers and the team before taking any initiatives related to activities and projects. This strategy can help HSBC leverage advice from experienced peers, which can help it adopt a new approach in managing projects, which can not only save time but can also prove cost-effective. In this regard, the best initiative is to appoint a facilitator and choose meeting participants who should have diverse skills, knowledge and experience. Shared values ​​HR will ensure that HSBC continues to use its strategy of engaging global expertise. and local knowledge to connect multinational customers to products and services to meet financial needs. Implementation plan HSBC's implementation plan to improve its knowledge management system and develop a learning organization culture will be based on different stages. A sequential approach will be adopted to effectively implement all major proposed initiatives. This implementation plan is based on the results captured in the form of SWOT analyzes and plans to maximize the effectiveness of HSBC's knowledge management. Step 1: Knowledge Model Structure The first activity will be the development of the appropriate structure because without the development of an appropriate structure, knowledge management plans can never be executed. One of the major weaknesses of HSBC Holding Plc is that its structure is not effective enough to help with knowledge and its knowledge model structure is unable to represent and use it in the process of problem solving. For this, the knowledge modeling framework will be developed under the guidance of the knowledge manager who will acquire the knowledge and model the knowledge as per the industry required format which could be used to support the problem solving process. Step 2: Knowledge recoveryKnowledge The management system lacks knowledge recovery and reuse. This weakness can damage the entire system and in this regard, the knowledge manager will be held responsible to ensure the adoption of innovative technologies to improve the repository and dynamic knowledge extraction will be made possible through the adoption of a relational database. In addition, a resource description framework will also be added to overcome the weakness of data recovery and reuse. Step 3: human resources development. Not only technical aspects but also human resource management and development also pose a huge threat to HSBC as it operates in a very challenging global business environment. If this weakness is not managed, it can prove to be a huge threat in weakening HSBC's competitive position. This part of the strategy is the responsibility of the HR Director who will ensure effective execution of knowledge capture projects as well as effective motivation programs in the form of reward management. Competitive salaries and benefits will be offered to improve employee productivity.Step 4: Knowledge AuditIt will be the responsibility of the data manager to implement the knowledge audit. This knowledge audit will be integrated to take advantage of the opportunity of effective HR and it will also support HR skills and contribute to the knowledge sharing culture. Step 5: Peer AssistanceThe last and most important part of the. 12-19.