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Management in Asia :smiley: (Characteristics of East-Asian Management…
Management in Asia :smiley:
Why is it important to understand Management in Asia? :question:
Despite declining growth, Asia still delivers 2/3 of global economic growth :check:
Leader in reducing poverty :check:
Accounts for 40% of global economy :check:
Significant improvement in living standards :check:
4.4 Billion people, 60% of world's population :check:
Western VS Eastern styles of Management :explode:
Western :black_flag:
Short-Termism :check:
Limited Hierarchy :check:
Early adopters of Capitalism :check:
Merit-Based :check:
Individualism :check:
Shareholders are prioritised :check:
Eastern :red_flag:
Steep Hierarchy :check:
Seniority-based :check:
Collectivist style approach :check:
Long Termism :check:
Equal Stakeholder Relationships :check:
Reluctant followers of Capitalism :check:
Characteristics of East-Asian Management systems :star:
Large private sector organisations are major employers to the country's national economy :check:
Closely linked with the ruling political elite of the country :check:
Minimise risk through Diversification :check:
Social and business relationships are critical for success :check:
Support for long term planning :check:
Saving Face :check:
Significant amount of State Intervention :check:
Growing focus on IP protection. :check:
Underrepresentation of women in the labour force :check:
Impact of Cultural, Economic, and Political factors on East-Asian Management :!:
Cultural :pencil2:
Confucianism :check:
Significant emphasis on education :check:
Value Hierarchy/Seniority :check:
Relationships are important :check:
Savings Driven :check:
Economic :fountain_pen:
Privatisation of previously state-controlled entities :check:
Growing income gaps within countries :check:
Embracing Capitalism more and more :check:
Rising Powerhouse of Global economy :check:
Political :pen:
Growing political influence in other regions through business expansion :check:
Protection of IP :check:
Close relationships between political and business leaders :check:
Future political and business leaders may embrace more 'Western Values' due to foreign education :check:
Tension within East-Asian Countries due to shared complex history :check: