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cultural economic political factors (cultural (eastern (Confucianism:,…
cultural economic political factors
cultural
eastern
Confucianism:
Honesty morals, ethical conduct, loyalty
Three key teachings: Loyalty, honesty and reciprocal obligations may lower cost of doing business.
Emphasis one education
Relationships are important.
Business is more sociable in eastern countries
saving face
steep hierarchy
seniority based
male dominated in senior roles
western
professional conduct
limited hierarchy
merit based
economic
eastern
long termism
Rising powerhouse of global economy: provides greater control to give them a level of confidence where they do not have to worry about the actions of other countries
privatisation of the previously state-controlled entities: the focus is on profit maximisation as it is a benefit to the larger community
Developing a greater focus on capitalistic goals , even though they have limited political freedom. This can therefore lead to a greater income gap as an increased focus on capitalism allows the rich to become richer while the poor remain the same or worse off. Large population has lead to a boom in economic growth thus more competitive with western countries
western
focus's on capitalistic pursuits , while having greater freedom than those in east asian
short termism
Greater focus on individual wealth rather than shared as shown the value of stakeholders. Western, shareholders are the primary stakeholder where as there are multiple equally important stakeholders in east asia
political
eastern
tensions within east asia due to the shared complex history e.g. history between China and Japan with regards to colonisations
protection of IP - ownership and enforcement
due to the significant exposure of western education (i.e. exchange between US, UK, AUS) the future political & business leaders may embrace more of the western values
growing political influence in other regions through business expansion
close relationships between political and business leaders, often men
western
politicians are not associated with businesses
more publicly owned companies