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INTERNATIONAL MANAGEMENT: FOCUS ON ASIA - Coggle Diagram
INTERNATIONAL MANAGEMENT: FOCUS ON ASIA
LEARNING OBJECTIVE 2: WEST VERSUS EAST - WHAT’S DIFFERENT?
Western Management
individualistic
focus of individual outcomes
environment is competitive
early adopters and proponents of capitalism
continue to push towards right-wing agenda
short-termism
long term goals are not focused on
concerned with small/immediate wins
limited hierarchy
flatter and matrix types organisational structures
merit based pay and promotions
shareholders are the primary stakeholders
Eastern Management
collectivist
goals of the group are prioritised over and above that of any individual
Reluctant followers of capitalism
important for transitioning economies
long termism
short term goals are subjugated under the longer term objectives
small wins are not prioirtiesed
focus on bigger picture
steep hierarchy
great power distance
formal status positions
rigid reporting strucutres
everybody knows their place and who they answer to
seniority based pay
pay and rewards
denoted by authority and status
mutually important stakeholders
interest of all stakeholders are managed equally
LEARNING OBJECTIVE 1: Why Asia; Specifically, South and South-East Asia?
Population of 4.4 billion people
Accounts for 40% of global economy
Rising middle class, predicted to double by 2030
Home to China + India, 2 largest transition economies
Includes Japan (former) + China (current), greatest competitors to US
Rapidly expanding skilled labour force
LEARNING OBJECTIVE 3: EAST ASIAN MANAGEMENT SYSTEMS
Support for long-term planning and risk minimisation through diversification
growth on Ip protection
women are underrepresented in labour force
In order to success, social & business relationships are critical- networking is important
Closely linked with the ruling of political elite
Large private sector organisations are major employers
LEARNING OBJECTIVE 4: REGIONALLY UNIQUE MANAGERIAL IMPLICATIONS
Economic Factors:
Rising powerhouse
Embraces capitalistic approach
Rising middle class (moving away from conunism)
Political factors
Close relationships between political/business leaders
Growing political influences in other countries e.g.Africa
Exposure to western education E.g. Aus
Cultural factors
emphasis on education, focus on hard and technical skills
Relationships + trust important
Values hierarchy
Savings driven
high morals, ethical conduct