Beacon No. 13: "Local Knowledge" and "Catastrophic Success"

IN JAPAN, A HOLE-IN-ONE CAN RUIN YOUR BANK ACCOUNT.


This week I heard about a great ad campaign by HSBC, the London-based bank with offices in 76 countries: "Never underestimate the importance of local knowledge." The campaign emphasizes that although HSBC is a globe-spanning institution, its employees are well-versed in local customs and, by implication, won't do anything embarrassing with you or your hard-earned pounds, rupees or ringgit.

One "Local Knowledge" television commercial is available on HSBC's site, and it makes the bank's point nicely: Where in U.S. golf you buy all your partners drinks after making a hole-in-one, in Japan the cost can be a bit steeper. It's a fun look at the unintended consequences of catastrophic success.