Management in Asia 😃
Why is it important to understand Management in Asia? ❓
Western VS Eastern styles of Management 💥
Characteristics of East-Asian Management systems ⭐
Impact of Cultural, Economic, and Political factors on East-Asian Management ❗
Despite declining growth, Asia still delivers 2/3 of global economic growth ✅
Leader in reducing poverty ✅
Accounts for 40% of global economy ✅
Significant improvement in living standards ✅
4.4 Billion people, 60% of world's population ✅
Western 🏴
Eastern 🚩
Steep Hierarchy ✅
Seniority-based ✅
Collectivist style approach ✅
Long Termism ✅
Equal Stakeholder Relationships ✅
Reluctant followers of Capitalism ✅
Short-Termism ✅
Limited Hierarchy ✅
Early adopters of Capitalism ✅
Merit-Based ✅
Individualism ✅
Shareholders are prioritised ✅
Large private sector organisations are major employers to the country's national economy ✅
Closely linked with the ruling political elite of the country ✅
Minimise risk through Diversification ✅
Social and business relationships are critical for success ✅
Support for long term planning ✅
Saving Face ✅
Significant amount of State Intervention ✅
Growing focus on IP protection. ✅
Underrepresentation of women in the labour force ✅
Cultural ✏
Confucianism ✅
Economic ✒
Significant emphasis on education ✅
Value Hierarchy/Seniority ✅
Relationships are important ✅
Savings Driven ✅
Privatisation of previously state-controlled entities ✅
Growing income gaps within countries ✅
Embracing Capitalism more and more ✅
Rising Powerhouse of Global economy ✅
Political 🖊
Growing political influence in other regions through business expansion ✅
Protection of IP ✅
Close relationships between political and business leaders ✅
Future political and business leaders may embrace more 'Western Values' due to foreign education ✅
Tension within East-Asian Countries due to shared complex history ✅