Expansion strategy of HSBC in Bangladesh
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With the world knowing identity, Hong Kong and Shanghai Banking Corporation (HSBC) started its operation in Bangladesh in 1996. With such a brand image, outstanding marketing activities and modern product and service area, they also built a place in Bangladeshi market as well. So here I have tried to focus upon the gist expansion strategy of HSBC in Bangladesh, highlighting in Dhaka city. This is aimed to have an overview of how they are operating and expanding their business in Bangladesh presently. Starting from the company overview, I have put light on giving a brief about HSBC as a global bank and HSBC in Bangladesh. Further, I have moved on to explore the expansion strategy of HSBC. As I have found from the speech of HSBC persons, their expansion strategy is focused on two sides. Considering that factors, I have showed the expansion strategy in terms of expansion of branches and in terms of expansion of business. Moreover, it is also very important to have a clear and specific idea about the selected organization’s current situation. So I have also done a SWOT analysis of HSBC. And based on that, I have suggested some strategies that they can adopt, in the SWOT matrix. The study also reflects a competitor analysis with the main foreign competitor banks in Bangladesh. This is to understand HSBC’s position in the market as well as their strategies to face the competitive situation. Here I have given a short BCG matrix analysis to have an idea regarding the market situation and growth of the selected organizations. Finally I have gone through my own assessment regarding their operation. I have also given some recommendation in that assessment that may improve the operation of HSBC in Bangladesh in future.