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Week 4 - Coggle Diagram
Week 4
LO3: Characteristics of East
long term planning
focus on IP protection
large private sector are major employers
saving face
ruling political elite
LO1: Why Asia?
40% of global economy
60% of world populations
"diversity or die"
LO4: regional unique managerial implications
Cultural factors
Emphasis on education
Three key teachings
Loyalty
reciprocal obligations
honesty
High morals, ethical conduct
Relationship important
Savings driven
Value hierarchy/seniority
Economic Factors
Rising powerhouse with PRC at top
Privatisation of previously state controlled entities
Embracing capitalistic pursuits despite limited political freedom
grwoing incme gaps within countries - middle class
Politcal Factors
Protection of IP
Exposure to more western values
tension due to complex history
Influence business expansion
LO2: West versus East
West
Merit-based pay and promotions
Limited hierarchy
Short-termism
Individualists
Shareholders - primary stakeholders
East
Relluctant followers of capitalism
Long-termism
Collectivist
steep hierarchy
Seniority based pay system
Multiple equally important stakeholders