Explain how CSR can project good image of HSBC

HSBC embraces the principle that corporate responsibility is vital to the success of a company. Their philanthropic strategy is focused primarily on two critical issues which are education and the environment. HSBC tends to build strong, enduring relationships with a wide range of organizations by providing the resources and tools to sustain long-term results. By doing all corporate social responsibility activities, they believe that it can help HSBC to project the good image for them.

First, the communities will recognise HSBC as a good corporate citizen by keeping the sense of strong communication relationship with stakeholders, employees and supporting customers which have a positive influence on their future business. As part of HSBC corporate responsibilities, HSBC strives to be a catalyst for progress in the communities they serve. HSBC invests in educational programs that are sustainable and add value to their communities through their Community Investment department. HSBC provides corporate contributions that give young people hope, a positive attitude, opportunities for success, and a better future especially in their programs.

Via the CSR program, the good image of HSBC can be generated through the education incentives programs especially in financial education platform in order to help people become more confident in managing their money and making more informed financial decisions. As example , visitors to YourMoneyCounts.com will find a commercial-free site, containing no marketing messages or product pitches thus making the sincerity of the help given without any

hidden agenda also when the program of Adult Financial Literacy Workshops launched in 2003, this partnership has provided financial education in the areas of money management, credit, homeownership and more to over 34,500 individuals and families.

Second is by minimising environmental damage, conserving resources as well as responsible investment activities will attract stakeholders in the future. HSBC future prospect of climate change is believed to be the most significant environmental challenge of this century and will have a major impact on their employees, customers, shareholders and communities. Furthermore, HSBC has been the example of all corporate bodies by counteracts all CO2 emissions generated by its building operations and corporate travel as well as through the use of green technologies and emission-offset trading.

Environmental programs supported may include environmental policy development, public awareness-building, education of teachers or other adults (i.e. over 25), scientific research and projects to improve the sustainability or resilience of eco-systems which lead to the support and trust by the public about the concern and responsibilities taken by HSBC. Public nowadays are very concern about the global warming and environmental issue and HSBC lead the public by becoming one corporate identity that particular and concern about the current issues and supporting any activities that uphold to the interest of its corporate and stakeholders interest. Additionally, HSBC cares for its employees and customers by utilizing a green

cleaning standard in its buildings that focuses on improving indoor air quality, recycling and minimizing the use of raw materials and toxic products.

Third is communities will recognize HSBC as a corporate body that concern in strengthen community ties and reputation. HSBC supports the communities in which they operate through the engagement of their employees and financial contributions to support their efforts. HSBC do this by encouraging their employees to share their skills and realize their full potential through their community involvement efforts. In realizing this program, HSBC also come out with several guidelines for those individual or organization to cooperate with them whereas all the proposals must be received by November 1 of each year and those that meet the outlined requirements will be reviewed. Proposals will not be returned. A letter will outline the grant terms, along with any requirements for evaluation and reporting. By applying for a grant through HSBC, publics are certifying that their organization shall comply with all applicable federal and state laws. HSBC reserves the right to target its resources to certain geographic areas, program categories and projects which, in their opinion best address social or community needs and satisfy the objectives of the company and its many stakeholders. By this, it shows that HSBC is very concern regarding their relationship between their bank image and the public social interests but they will in their opinion as well as discretion in term of the matters of corporate responsibility satisfy the need or objectives of their company and stakeholders too. As conclusion, Corporations like HSBC are adding CSR as a core business strategy, increasing profits and their reputation. Non-profits are receiving assistance with awareness whereas people have a more positive image of a products/services or company when it supports a cause they care about thus making stakeholders who concern about matters as HSBC concern too. Thus increase the level of trust among stakeholders to support any CSR activities held by company like HSBC.

As CSR progresses, regulations will likely be put in place to prevent corporate greed and unacceptable behavior. However, even with regulations in place, managers are much more likely to engage in a business strategy that boosts more than just profits. The Corporations are too self-indulgent to properly execute a business strategy where profit isnt the only benefit. However, HSBCs managers see an opportunity to improve on a number of levels with CSR and consumers praise this companies. CSR is no longer a novelty. Its an opportunity.