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Management Wk 4 (East Asian management systems characteristics (Support…
Management Wk 4
East Asian management systems characteristics
Support for long term planning and risk minimisation
Large private sector organisations and are major employers
Closely linked with ruling political elite
Saving face - avoid highlighting individual deficiencies and mistakes
Social and business relationships critical for success
Historically significant state intervention
Growing focus on IP protection
Underrepresentation of women in the labour force
Why Asia
International management
Ongoing and increasing globalisatiobn
Blurring of international borders
'Diversify or die'
Internationalise imperitive
Global expansion for competitiveness and survival
Asia
Home to 60% world's population
Accounts for 40% of global economy
Accounts for 1/3 of total global Foreign Direct Investment
South East Asia
China and India - 2 most populated and largest transition economies in the world
Global brands - Samsung, Toyota, Honda, etc.
Rapidly expanding skilled and cheap labour force
Regionally unique managerial implications
Cultural factors
Confucianism
High morals, ethical conduct, and loyalty to others are stressed
Three key teachings - Loyalty, reciprocal obligations and honesty
Emphasis on education - hard and technical skill development
Value hierachy and seniority
Relationships important
Savings driven
Economic factors
Rising powerhouse of global economy
Embracing capitalist pursuits despite limited political freedom
Privatisation of previous state controlled entities
Growing income gaps within countries (rising middle class)
Political factors
Tension within East Asia dud to shared complex history
Close relationship between political and business leaders, often men
Growing political influence in other regions through business expansion
Protection of IP - ownership and enforcement
Due to significant exposure to western education (ie. US, UK, Aus) future political and business leaders may embrace more 'western' values
West vs South approaches
Western
Individualist
Early adapters and proponents of capitalism
Short-termism
Limited hierachy
Merit based
Shareholders - primary stakeholders
Eastern
Collectivist
Reluctant followers of capitalism
Long-termism
Steep hierachy
Seniority based
Multiple equally important stakeholders