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Management in Asia - Coggle Diagram
Management in Asia
Characteristics of East Asian Management
Support for long-term planning and risk minimisation
Large private sector organisations
Closely linked with ruling political elite
relationships critical for success
Saving face
Underrepresentation of women in labour force
Growing focus on IP protection
Historically, significant state intervention
Western Management
Individualist
Western management systems emphasised individual needs satisfaction as a mechanism to obtain higher productivity
Limited hierarchy
Merit based
Shareholders - primary stakeholder
Early adopters of captialism
short-termism
West Meets East
Ambicultural Approach
Shih model bridges cultures and instructing organisations providing an altrustic, benefit-sharing community consistent with collectivism and harmony
Ideal Ambicultural Manager
recognise shortcomings of Western and Eastern business models
openness to new ways of thinking
understanding business cannot operate independently, must balance diverse needs
ability to transcend divisions around the globe
emphasis on morality and unity
balance social good and self-interest
emphasis on trust-based and legal relationships
equal appreciation for teamwork and individual stars
equal appreciation for teamwork and individual stars
commitment to continued learning
Eastern Management
Factors that impact east-asian management
Cultural
Confucianism
high morals, ethical conduct, and loyalty to others in stress
Three key teachings: loyalty, reciprocal obligations, and honesty
Economic
heightened growth of income inequality
embracing capitalistic pursuits despite limited political freedom
Privatisation of previously state-controlled entities
rising powerhouse in global economy
Political
tension within east asia due to shared complex history
close relationship between political and business leaders (often men), raise a number of ethical concerns (corruption)
Growing political influence in other regions through business expansion (e.g. Africa)
Protection of intellectual property - ownership and enforcement
collectivist
Reluctant followers of capitalism
Long-termism
seniority-based
steep hierarchy
multiple equally important stakeholders
Focusing on Asia
4.4 billion population
40% of global economy
1/3 of total global FDI inflows > 1/2 trillion USD
Greenhouse gas emissions grew faster than the global average over the last decade
South & South East Asia
PRC and India, two most populous/largest transition economies
Tiger economies - Taiwan, Singapore, Hong Kong, South Korea
Global Brands - Samsung, Toyota, Honda, Hyundai, HSBC, Acer, Tata, Lenovo, Alibaba, LG
Rapidly expanding skilled labour force - within and outside region