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Management - Coggle Diagram

- - - - Predicted to double by 2030 - 3 billion
    - - Features
        
        PRC & India: most populous & largest transition economies
        
        Former & current competitior to USA
        
        Tiger economies: Taiwan, Singapore, Hong Kong, South Korea
        
        Global brands: Samsung, Acer, Toyota, Honda, Hyundai, HSBC, Alibaba
        
        Rapidly expanding skilled labour force
  - - - Goals of the group prioritised over individual
    - - Authority & status = rewards
    - - Support for long-term planning & risk minimisation - avoid all eggs in one basket
      - Large private sector organisations are major employers - critical to economies
      - Closely linked with ruling elite
      - Social & business relationships critical for success - networks and who-you-know (trust)
      - Saving face - don't highlight mistakes
      - Historically, significant state intervention - price control by state prominent
      - Growing focus on IP protection
      - Under representation of women in the workforce - patriarchal societies
    - - Cultural Factors
        
        Confucianism
        
        High morals
        
        Ethical conduct
        
        Loyalty to others
        
        Reciprocal obligations
        
        Honesty
        
        Emphasis on education
        
        Value hierarchy/seniority
        
        Relationships important - value networks
        
        Savings driven
      - Economic Factors
        
        Rising powerhouse of global economy
        
        Embracing capitalistic pursuits despite limited political freedom
        
        Privatisation of previously state-controlled entities
        
        Growing income gaps within country
        
        PRC at helm
        
        Rising middle class
      - Political Factors
        
        Tension within East-Asia due to shared complex history
        
        Close relationship between political & business leaders, often men
        
        Growing political influence in other regions through business expansion (eg. Africa)
        
        Protection on IP - ownership and enforcement
        
        Due to significant exposure to Western education future political & business leaders may embrace more 'western' values
    - - A recognition of the shortcomings of the prevailing Western and Eastern business models to meet the challenges and complexities presented by globalization and emerging markets.
      - An openness to new ways of thinking, and an ability to see the wisdom and strength in other cultural and business paradigms.
      - An understanding that business cannot operate independently of social, geopolitical, environmental, and human needs, but must balance these diverse needs.
      - An ability to transcend divisions around the globe.
      - A dedication to integrating global awareness into everyday actions.
      - An emphasis on unity and morality.
      - An ability to balance social good and self-interest.
      - An emphasis on trust-based and legal relationships.
      - An equal appreciation for teamwork and individual stars.
      - A commitment to continued learning, to sharing knowledge and experience with others in the interest of mutual improvement, and, ultimately, to reaching the pinnacles of professional achievement and humanity.
      - West
        
        Positive aspects from West
        
        Globalisation
        
        Branding
        
        Decentralised flat structures
        
        Employee discretion
        
        Negative aspects from West
        
        Short termism
        
        Narrow individualism
        
        Up or out culture
        
        Avoids rewards to few at expense to many
      - East
        
        Positive aspects from East
        
        Long termism-
        
        More patience in East than West
        
        Values creation of sustainable organisation
        
        Errors tolerated but not catastrophes
        
        Strategic initiatives are limited in risk
        
        Harmony & collectivism -
        
        Emphasis on the colective
        
        Altruistic, benefit sharing community
        
        Pride in community and concern of one's reputation
        
        Seniority & Mentorship -
        
        Hinour individuals for past contributions to secure loyalty
        
        Mentorship is personal and continuous
        
        Long termism
        
        More patience in East than West
        
        Values creation of sustainable organisation