2. P REPARED B Y
Serial Name Student ID
No
1 Mahmudul Hasan Maruf 2011210005139
2 Md Jahid Hasan 2011210005125
3 Tamal Kumar Saha 2011210005141
4 Shovon Kumar Baggchi 2011210005130
5 Arup Ratan das 2011210005126
Prepared for the partial requirement of the course named
‘Strategic Management’. We are sincerely thankful to our course
teacher Mr. Abdus Sabur for assigning us doing such an important
report which is not only enrich our knowledge but also widen our
outlook.
3. H IERARCHY OF S TRATEGIC
INTENT
The framework within which firms
operate, adopt a predetermined direction and
attempt to achieve their goal is provided by a
strategic intent.
Vision The hierarchy of strategic intent covers the
vision, mission, business definition, business
Mission model and the goals and objectives.
Goals
Objectives
Plans
4. W HAT D OES R EFER TO E ACH
S TEP ?
• It describes aspirations for the future without specifying the means that will
Vision be used to achieve those desired goals.
• It is a statement of fundamental and unique purpose of an organization that
sets an business apart from other firms of its type and identifies the scope of
Mission the business's operations in product and market terms.
• Just as mission statement try to make vision more specific, goals are attempt
to improve and organization's performance by making mission statements
Goal more concrete.
• Objectives are the end towards which organizations and individual activities
Obejectives
are directed.
• It is the process of evaluating all relevant information and the assessment of
probable future development results in the statement of a recommended
Plan course of action plan.
5. A BOUT
British multinational banking and financial services company
headquartered in London, United Kingdom.
It is the world's second-largest banking and financial services group.
It is organized within four business groups: Commercial Banking;
Global Banking and Markets (investment banking); Retail Banking and
Wealth Management and Global Private Banking.
It has around 7,200 offices in 85 countries and territories across
Africa, Asia, Europe, North America and South America and around
89 million customers.
The origins of the bank lie in Hong Kong and Shanghai, where
branches were first opened in 1865.
As of 31 March 2012, it had total assets of $2.637 trillion, of which
roughly half were in Europe, a quarter in the Americas and a quarter
in Asia.
HSBC has a primary listing on the London Stock Exchange and is a
constituent of the FTSE 100 Index.
6. O PERATION OF HSBC
B ANGLADESH
It has opened first Bangladesh branch in
December 1996
It has a network of 13 offices, 38 ATMs, 9
Customer Service Centers, an offshore banking
unit, and offices in 7 EPZs.
It has 1051 employees as of December 2010
Key business areas are Retail Banking and Wealth
Management, Commercial Banking, Corporate
and Institutional Banking, Global Markets,
Shariah Compliant Banking
7. A BOUT M YSTERY S HOPPING
A tool used externally by market research
companies or watchdog organizations or internally
by companies themselves to measure quality of
service or compliance to regulation, or to gather
specific information about products and services.
The mystery consumer's specific identity is
generally not known by the establishment being
evaluated.
Mystery shoppers perform specific tasks such as
purchasing a product, asking questions, registering
complaints or behaving in a certain way, and then
provide detailed reports or feedback about their
experiences.
8. C USTOMER S ERVICES AT
R ETAIL B ANKING
Front Office: Accounts related query
handling, account opening, receiving customer’s
closing requests, cheque book, ATM
card, PIN, Internet Banking, phone banking
requests. Loan processing, loan settlement.
Providing Bank statement and bank certificate to
customers
Back Office: Cash deposits and withdrawals, inter
bank fund transfer, Inward and outward
remittances, clearing cheques, SI and Hold
maintenance, CTR, Money laundering reporting
9. R EQUIREMENTS OF B ETTER
C USTOMER S ERVICES
Good knowledge about financial products and
services and the operational facts
Familiar with the local compliance and regulation
about financial services
Vigilant about money laundering and fraud
Self motivated and smart, well groomed
Dependable, able to work with group, adaptive and
matured
Sales oriented and focused
Sensible about avoiding customer complaint
Quick thinking and problem solving capabilities
10. P OTENTIAL AND E MERGING
P ROBLEMS
immaturity of the customer services officers, less knowledge
and improper knowledge and even error knowledge of
customer services officers about financial products and
services,
frequent operational errors, laziness in customer
servicing, forget about the customer’s promises, delay in
delivering cheque books and ATM cards, hiding about the costs,
telling not the truth about the interest and charges of savings
accounts, messy customer services environment, no greeting
and warm welcoming, not say good bye and thanks, attending
and delivering services more than one customer at a time,
no delivery and unwillingness to give visiting cards and product
brochures, improper dressings, harsh voices while talking with
customers, empty customer services desks,
not offering products for selling, unwillingness to provide any
extra services, attempt to finish the services quickly, defective
in customer queue maintenance etc.
11. S TRATEGIES TAKEN
buddy programs (group learning systems headed by customer
services managers),
surprise checking (internal auditing systems finding the
operational errors and compliance),
clean desk policy teams (early morning visits to branches to
notice the branch environment and customer services desks),
regular training about local compliance and money
laundering (training headed over by the Bangladesh Bank
officials),
alarming fraud (raising awareness through intra emails)
e-learning (computer based trainings)
and finally the so called mystery shopping which is the topic of
this study.
12. V ISION OF HSBC
B ANGLADESH
As a member of HSBC family which has been
serving its millions of customers worldwide since
1865, to take our place among Bangladesh’s
most powerful, most profitable, most admired
leader banks.
13. M ISSION OF HSBC
B ANGLADESH
Having regard to ethical values; to meet its
customers financial needs in the fastest and most
appropriate way, to continue innovative works in
order to achieve: human resource with superior
qualities, technological infrastructure and service
packages.
14. G OALS OF HSBC R ETAIL
B ANKING
To exceed customer expectations in service quality.
To be a pioneer in the implementation of
technologies those create distinction for its
customers, employees and shareholders.
To keep its reliability at the utmost level with the
contribution of its strong capital structure and liquid
assets.
To make a positive contribution to the community
To respect meritocracy during hiring processes,
improving knowledge and skills of its employees,
creating the mostly preferred work environment.
15. C HALLENGES OF D EVELOPING
S TRATEGIES
do the strategies coincide or concur with the
goals
does the Retail Banking have available
material, human, financial and informational
resources to accomplishment and implement the
strategies
local and international compliance
departmental coordination
16. O BJECTIVES OF M YSTERY
S HOPPING
To identify the degree of customer services meticulously
To determine the common problem areas
To raise awareness by discussing about the branch mystery
shopping results
To improve the first impressions of the customers
To get better in counter observations from the eyes of the
customers
To ensure efficiency in inquiry holding
To make better the follow up and overall experience of the
customers
To achieve the leadership in customer servicing in the bank
industry of Bangladesh
17. A CTION P LANS
design a questionnaire consists of both quantitative
and qualitative questions. The quantitative question
carries scores. The cumulative score shows the branch’s
performances about customer services in the eyes of
non-customer.
select an independent vendor to conduct the survey
and decides to provide sufficient guidelines and
resources to conduct the survey.
They are guided to provide or send two typed profile
customers between those the first type is young and
mid twenties and the rest type looks like professional
or executive.
18. A CTION P LANS
execute the survey in duration of at least half an hour in
the branch premises and report accordingly the customer
services experiences in the light of the set standards.
The overall reports are sent to the branch managers by
identifying the best and worst branch with their marks.
The report also identifies the branches are in red, amber
and green zone.
The report also marks the common problem areas of all
branches, shopper’s special feedback, and exceptional
performances by the branch staffs.
The strategy makers decide to provide the trophy of
service champion to the branch who successively doing
better results in mystery shopping reports for six months.
19. D EVELOPMENT OF
Q UESTIONNAIRE
Two parts: Quantitative scoring and qualitative
comments
Quantitative section has 4 parts:
1. First Impressions
2. Counter Observations
3. Enquiry Holding
4. Follow up and overall experience
The qualitative section consists of comments of
mystery shoppers, three positive observations and
three negative observations about the branch and the
branch staffs.
20. F IRST I MPRESSIONS
find out the quality of internal and external
environment of the branch premises,
greetings of customers,
visibility and cleanliness of the internal marketing
materials and printed Bangladesh Bank circulars
inside the retail outlet,
visibility of the handmade signs on display from
the eyes of mystery shoppers.
21. C OUNTER O BSERVATIONS
Mainly the counter observations are conducted on
the customer services- back or support offices.
answers the following questions like queue time for
counter, proactively management of queue by the
customer services officers, waiting time at counter,
greeting with smile, maintaining positive eye
contact, addressing customers with proper
salutations,
confidence of customer services officers in handling
customers, eagerness to help the customers
more, thanking the customers after closing the deal.
22. E NQUIRY H OLDING
Enquiry holding are conducted mainly on front offices
the availability of customer services officer in the sales
and services floor, ability of him greeting the customers
with proper salutations and smile, maintenance of
positive eye contact, efficiency of handling time in
inquiry,
handed over ability of initial contact officers to main
contact who actually levying the services and efficient in
solving the required problems and services the mystery
shopper looking for, clean desk reporting,
the same goes to the main contact who mainly deals
with the service the shoppers mainly seek for,
23. E NQUIRY H OLDING
easy introduction capability of the main
contact, knowledge of main contact customer services
officer, consultation ability of main contact with his
colleagues about the enquiry, ability of the main
contact to communicate simply and understandable
manner,
efficiency of the customer services officers proactively
recommend relevant products and Shariah compliant
products, problem solving ability to satisfy the shoppers
need,
offering of brochures, respectability, communication
skills, politeness attentiveness patience, efficiency in
handling queries and confidence of the main contact
24. F OLLOW U P AND O VERALL
E XPERIENCE
Follow-up and overall experience is the ending part of
the survey and from this sector it reveals the habit of
customer services officers in giving visiting cards with
further contact numbers,
ability of customer services officers to set another
successive appointment making with the mystery
shoppers, habit of thanking the customers at the end of
closing the deal
overall time taken at the retail stores and overall
experience of the visit of the mystery shoppers.
25. G ENERAL O UTCOME OF
M YSTERY S HOPPING
Mystery shopping report are made by the Alternate Delivery
Channels officers to the ADC Managers by copy of Compliance
Departments, Marketing Department, Human Resources
Departments, Head of Retail Banking Branches, Retail Banking
Cluster and Branch Managers.
The overall presentation of the report says about its gravity and
importance.
That’s why every customer services officers, customer services
managers and branch managers become aware about the each
and every facts of efficiency in dealing with customers.
Another fact is that branch managers become careful about
making the branch premises clean and tidy to look more
attractive and pleasant.
Customer services officers started learning pro actively about the
products and services, Bangladesh Bank rules, regulations,
internal compliance manuals etc which helps to build confidence
of them.
26. A FTERMATH R ESULTS AND
Q UALITY C ONTROLLING
Before informing formally to the branch officials the
strategy maker conducted a tentative mystery shopping in
every branch. The result is very disappointing. Most of the
branch gets very poor marks in the result.
But after implementing the strategy, the scenario has
been changed number of customer complaints reduced
incredibly, total number of accounts especially Shariah
compliant accounts and different savings schemes were
sold in large scale, overall liability gets a boom, customer
satisfaction reaches a superior stage.
But how, the simple answer is accountability ensures at
each level, whereas productivity become stronger in all
the functional units. Customer Services Officers become
matured.
27. A FTERMATH R ESULTS AND
Q UALITY C ONTROLLING
. Brand value has been ensured. The average score in
June 2012 raised a distinct level of 84.13% which was
only 55.7% at the initial stage.
The best branches are awarded in the annual
presentation ceremony. Motivation raises at all level.
The fact now becomes a challenge to get more marks in
rivalry from the competing branch.
Branches fall in red zone (Less Than 60%) and amber
zone (60%-80%) are treated specially by providing more
training, motivation and extensive caring and regular
supervision by the higher officials.
28. C OORDINATION AMONG
OTHER S TRATEGIES
The successful result in Mystery Shopping is not just a
result of implementing a single strategy, but also a
triumph of developing and maintaining simultaneous
strategies
e-learning on brand value, better customer
services, consumer behavior, operations, clean desk
policy, money laundering, catching the frauds, cross
selling etc.,
the buddy program is another a fruitful attempt where
customer services manager become the buddy leader
chooses 4 customer services manager as buddy and
provides training and discussion, later customer services
officers faced presentation and interview, based upon
that both officers and managers are evaluated,
29. C OORDINATION AMONG
OTHER S TRATEGIES
surprise checking adds a value that customer
services officers become more cautious about
dealing with security items and cash,
continuous fraud alarming through e-mail and
workshop creates awareness among the
customer services officers and learn them
whistle blowing.
At the meantime, a group certificate was
provided with the signature of group Asia Pacific
CEO name “Identify to Act and Protect HSBC’s
Franchise” help young learners and new joiner
more about operational risk.
30. R ECOMMENDATIONS ON
M YSTERY S HOPPING
Mystery shoppers should provide adequate resources and
training before conducting survey to branches
Mystery shoppers should be well educated and well paid
The independent contractors should be changed at regular
intervals to maintain secrecy and ensuring quality
Best Customer Services Officers should be awarded in the light
of mystery shoppers report
Mystery shopping survey should focus on and introduce a new
section on attempting fraud in office premises which overlook
in the program
Mystery shopping survey are now conducted only the
customer services officers, it should also made on managers
and customer services and manager and even sales officers
also
31. C ONCLUSION
Introducing the mystery shopping in the service industry of
Bangladesh is innovating and unique but successful.
That’s why by implement the strategies along with mystery
shopping the retail banking of HSBC Bangladesh proved
that quality customer services is the key of business
success.
Undoubtedly, it is a win-win strategy of satisfying
customers and a value addition to the products and
services offered by the retail banking of HSBC.
Mystery shopping raise the brand value of HSBC
Bangladesh in the services industry not in the national
market of Bangladesh but also in the international arena.
