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Week 4 - Management in Asia (Western vs Eastern management (East …
Week 4 - Management in Asia
Why Asia, particularly South and South-East Asia
Home to 60% of world population
40% of world economy
Past 35 years has been a world leader in reducing poverty
Rising middle class
South and South-East Asia
PRC and India are two most populous and largest transitioning economies
PRC now major competitor to USA, formerly Japan
Global brands e.g. samsung, Toyota...
Western vs Eastern management
East
Individualist
Short-termism
Limited Hierarchy
Merit based
Shareholders- primary shareholder
Early adopters, proponents of capitalism
West
Collectivism
Long-termism
Steep hierarchy
seniority based
Multiple equal shareholders
Reluctant followers of capitalism
Differences
Eastern management systems
Characteristics of east asian management
Support for long-term planning and risk minimisation
Large private sector
Linked with ruling political elite
Social & business relationships critical to success
Growing focus on IP protection
Impact of cultural, economic, & political factors on East-Asian management
Political Factors
Tension with east asia due to history
Close relationship between political and business leaders
Growing political influence through business expansion
Economic Factors
Rising powerhouse of global economy
Embracing capitalistic pursuits despite limited political freedom
Growing income gap between countries
Privatisation of previously state-controlled entities
Cultural Factors
Confucianism
High morals, ethical conduct, and loyalty to others
Emphasis on education
Value seniority/hierarchy
Savings driven
http://monash.online.clickview.com.au.ezproxy.lib.monash.edu.au/libraries/videos/3715614