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W4 INTRODUCTION TO MANAGEMENT - Coggle Diagram
W4 INTRODUCTION TO MANAGEMENT
REALITY OF INTERNATIONAL MANAGEMENT
increasing globalisation
Blurring of international borders
Diversify or Die
Internationalise imperative
expansion for competitiveness & survival
REASON FOR FOCUS ON MANAGEMENT IN ASIA
60% of world population
40 % of the global economy
1/3 of total global FDI inflows
Rising middle class
GHG grew faster than the global average
SOUTH & SOUTH-EAST ASIA
greatest competitor to US
Tiger economies
Global brands
skilled labour force (cheaper)
PRC & Indian
WEST VERSUS EAST
WESTERN MANAGEMENT
Individualist
capitalism
Short-termism
Limited hierarchy
Merit-based
Shareholders – primary stakeholder
EASTERN MANAGEMENT
Collectivist
Reluctant followers of capitalism
Long-termism
Steep hierarchy
Seniority-based
Multiple equally important stakeholders
EAST ASIAN MANAGEMENT SYSTEMS
long-term planning
risk minimisation
private sector — major employers
linked with ruling political elite
Social & business relationships critical for success
Saving face
state intervention
IP protection
Underrepresentation of women
REGIONALLY UNIQUE MANAGERIAL IMPLICATIONS
CULTURAL FACTORS
Confucianism
loyalty
reciprocal obligations
honesty
Emphasis on education
Value hierarchy/seniority
Relationships important (connections)
Savings driven
ECONOMIC FACTORS
Rising powerhouse
Embracing capitalistic pursuits despite limited political
freedom
Privatisation
Growing income gaps
POLITICAL FACTORS
Tension within East-Asia
Close relationship between political and business
leaders
Growing political influence
Protection of IP
leaders may embrace more ‘western’ values