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Week 4, Eastern management - Coggle Diagram
Week 4, Eastern management
Huge economy
Open borders and vast trade routes make for ideal business ventures
As such more Western businesses have begun to expand their business in the area
Idea of diversify or die has become more prominent
Growing local economy
Home to 4.4 billion
40% of the world's economy
Rising middle class predicted to be 3 billion by 2030
Greenhouse gases are greater than the average
Already has huge global brands such as Samsung, Honda and Alibaba
Business styles
Eastern Styles
Greater focus on collective success
Drifts away from capitlaist ideals
Clear and rigid heirachy
Focuses on long term success rather than short term goals
Western styles
Individual outcomes
early adopters of capitalist markets
Focus on short term goals
Focusing on a flatter Hierarchy
Merit based pay
Eastern systems
Long term planning and risk management
Major businesses are linked to political affliates
Saving face is very common
Terrible female representation
Growing backing of IP protection
Major government intervention such as price controls
Region Managerial implications
Confucianism
The idea that all must behave in a honest and respectful manner when conducting business
Culture can change from country to country
Greater focus and value of education
More eastern business are adopting the more western styles of business
Still has tensions between the different states
Branching out political influences to other countries such as Africa