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wk4 Management in Asia - Coggle Diagram
wk4 Management in Asia
Why Asia
reality of international management
ongoing and increasing gloablisation
Blurring of international borders
internationalise imperative
Global expansion for comptetiiveness
Management in asia
Home to 4.4bil people
40% of global economy
1/3 of total global FDI>1/2 trillion USD
Rising middle class
The engine(south and south-east asia)
China and Indian, the two most populous and largest economies in the world
PRC greatest competitor to US
global brands
Samsung, Toyota, Tata, Ac
rapidly expanding skilled labor force
East Asian management system
support log term planning
risk minimisation
large private sector orgs are major employees
closely linked with political elite
social & business relationships critical for success
Saving face
historically, significant intervention
growing focus of OP protection
under representation of women in labor force
Regional unique managerial implications
Cultural factors
Confucianism
high morals, ethical conduct, loyalty to others are stressed
Three teachings
loyalty
reciprocal obligations
honesty
may lower cost of doing business
emphasis on education
value hierarchy/seniority
relationships important, not all
savings driven
Economic Factors
Embracing capitalistic pursuits despite limited political
freedom
Privatisation of previously state-controlled entities
Rising powerhouse of global economy
Growing income gaps within countries
Political Factors
Growing political influence in other regions through business expansion (e.g. Africa)
Protection of IP – ownership & enforcement
Close relationship between political and business
leaders, often men
Due to significant exposure to western education (i.e. US, UK, Aus) future political & business leaders may embrace more ‘western’ values
Tension within East-Asia due to shared complex history
What's Different? West VS East
Western Management
Short-termism
Limited hierarchy
Early adopters & proponents of capitalism
Merit-based
Individualist
Shareholders-primary stakeholder
Eastern Management
Long-termism
Steep hierarchy
Reluctant followers of capitalism
Seniority-based
Collectivist
Multiple equally important stakeholders