The Standard Chartered Reputation Business Essay

Published: Last Edited:

This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.

Standard Chartered reputation is critical to being the worlds leading emerging markets bank. The preservation and enhancement of that reputation depends upon our businesses operating to the highest standards of ethical conduct. We face a particular challenge to uphold consistent standards of conduct while at the same time respecting the culture and varying business customs of all the countries in which we operate.

The principles that govern the behaviour of our business and employees are reflected in a Group Code of Conduct. The Group Code of Conduct is a practical working document which guides employees through the many difficult conduct issues which confront them on a daily basis. Complying with each element of the Code will not always be easy but we recognise that we will be judged not just by what is set out in the Code but on how this is reflected in our day to day activities and the behaviour of all of you.

During the last 10 years the banking industry has become considerably monopolistic and hence SCB is starting to lose its market share to its rivals due to low barriers to entry, and the local banks' increasing aggressiveness

It is not a new phenomenon that effective Strategic Management is in high demand. Many individuals believe that Strategic Management is a way to improve how they present themselves to others (Argyris, 1978). Corporations want individuals who have knowledge and ability because they believe these individuals are the assets to their organisations. Academic institutions throughout the country are arranging programs to train students for the future. Generally, training and development is a highly sought after and highly valued commodity (Northouse, 2004).

Strategic Resource Management is a process for implementing a strategy for carrying out core management functions for allocating and managing resources to deliver the perfect service. It is the process to helps the organization to create a process and planning so that the organization can perform perfectly. The perfect strategy is worthless unless the organization execute the process. To use the planning and process the organization need the right resources, infrastructure and role flexibility. Strategic management helps to get the clear goal for the organization (Ackoff, 1999).

Facing challenges like leadership grooming, retaining know how, gender equality etc: as their lack of proper knowledge the department faces problems like, leadership grooming, employee retaining and gender equality. For multinational companies these problems are very common. Especially in Asian countries employee retaining and gender equality is the common barrier for HR development.

Facing challenges of workplace diversity: For multinational organization the above barriers create workplace diversity. Which turnout to be a problem for organizational growth.

More customer oriented: Most of the organization is focuses on customer. And they do not this about the employee.

More business focused: Most of the organization is business focused. They want to focus only how to increase the profit.

Human Resource is known as the strength of the organization. An organization cannot work without the proper Human Resources Management. Human resources comply or need to comply with the country's legislation to be applicable (Ackoff, 1981). As example we can say that, according to the UK Data Protection Act 1984 the employees must need to maintain accurate personal record in a manner that is compliant. In many cases Human resources also adopt a welfare role which includes looking after employees whilst they are at work which in other way we say maintaining health and safety at work. Human Resource should create policies that balance organizational needs with those of the employee (David, 1999).

The work of marketing department is to research the market to know customer needs to develop strategy and produce the right product to satisfy the customer need. The research is done in targeted market areas in addition the age, sex, background, preferences etc. After doing the survey, the marketing department need to produce the product according to the consumer need that is profitable. After finishing the product designing by the production department, the marketing team need to go for packaging, advertising, and promotion of the product (Haines, 1998).

The Sales trams are responsible to make the customers to purchase the end product. This includes Sales Department's selling strategy which can involve various advertisements, travelling sales representatives, telephone sales and devising the sales interview (Sanders, 1998).

The research and development aims to improve existing products, to create new and better products. It also improves production methods to create effective processes. The research and development eventually enable the organisation to reduce costs, increase profitability and remain ahead of the competition. But not all research will lead to new/improved products/processes. The organizations need to allocate a specific portion of their budget to research and development activities to get the better result (David, 1999).

The way that human work is measured, controlled, or reported is almost changed on invention of computers. This change will create a number of additional indirect flows from computers to labor demand. The information system flow will also mediated by organizational change (Cummings, 1977).

For any organization, the centralized databases enable individual workers to have the necessary information to complete an entire process that was pretty much impossible in past. This way shifts the employees from a role of functional specialist to process generalist (Chendlor, 1962). Now days, in manufacturing, the use of flexible machinery and computerized process controls is often attached with greater worker caution, which in turn requires data analysis skills and general problem-solving ability.

The performance and growth depends on few factors (Jackson and Schuler, 1995). The factors are, Help to build an appropriate organizational context, Attract and select the people to fit the business, Induct, train and manage effectively, Appraise, plan learning and development for the short and long term, Motivate and reward in ways that will ensure employees commitment to the organization and its stakeholders, Achieve meaningful career planning, Plan positive policies for redeployment and disengagement, Help to build an appropriate organizational context

Strategic management process is the combined process to run the organization. To make it more effective all four main elements have to come together and level of planning and resources have to have a vital role. If all the departments of the organization works in a planning way, then organizational growth will upwards. The strategic management also helps the organization to reach its goal.