Download - Research Paper - Singapore
Asian Management Studies| Singapore
Nancy W. Arrindell493948
Eyitayo Laleye495245
Global Economy in Transition Minor
Term 1, 2012
Asian Management Studies| Singapore
IntroductionThings to be discussed
Economic Development TimelineThe West & Singapore – Economic AchievementsBusiness Culture & Management Style
New Developments
1
2
3
4
Part OneTimelines and Pattern
Economic Development TimelineThe West & Singapore – Economic AchievementsBusiness Culture & Management Style
New Developments
1
2
3
4
Asian Management Studies| Singapore
Between 1819 and 1869 Arrival of British and Chinese
immigrants to work
Between 1873 and 1913Trading posts booms and Straits
Settlements became a Crown Colony
End of an Era 1946 and 1967 Singapore’s independence and
ASEAN formation
From 1968 to 1999Rapid development and effective
urbanization
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Singapore’s YearbookEconomic Development Timelines
1997 to 2003Recession; Increased trade
agreements
Political stability and Infrastructural development
2004 to dateCasino ban lifted; Economics growth
2008 till presentGlobal Financial Crisis hits
worldwide
Singapore’s YearbookEconomic Development Timelines – cont’d
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Part TwoHistorical Contacts between the West and Singapore
Economic Development TimelineThe West & Singapore – Economic AchievementsBusiness Culture & Management Style
New Developments
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2
3
4
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Economic AchievementsHistorical Contacts between the West and Singapore
Settlements, Relationships & Partnerships
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5
Portuguese: The destructive invaders Britain: Colonial position and British East India Co.United States: Diplomatic relationship and Trade agreement
Rest of The World
International Organizations – UN, WTO, ASEAN, IMF
*
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Economic AchievementsHistorical Contacts between the West and Singapore
Attitudes towards Western Companies
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Free market economy
Positive attitude reflects early relationships from 17th century
Strong influential multicultural environment A place where East meets West
World leader in Foreign Trade and Investment
*
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Foreign Direct Investment Flows
Highest FDI Sector Investments
2009 ($ billions)
2010 ($ billions)
Share in 2010 (%)
Total 573,3 618,6 100,0Manufacturing 123,0 130,8 21,2
Whole sale & Retail Trade 99,4 109,9 17,8
Transport & Storage 36,8 37,5 6,1
Financial & Insurances services
238,6 263,9 42,7
Real Estates Activities 17,3 19,7 3,2
Professional & Technical
Administrative & Support Services
38,2 35,6 5,8
Economic Achievements
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International TradeImportant Trade Partners: Export
Main Export Partners
Hong Kong
Malaysia
United States of AmericaIndonesia and China (each)Japan
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11,6 %
11,2 %
9,7 %
4,6 %
11,5 %
International TradeImportant Trade Partners: Import
Main Import Partners
United States of America
Malaysia
China
Japan
Indonesia & South Korea
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14,7 %
10,5 %
7,6 %
5,8 %
11,6 %
Part ThreeTypical Business Culture and Management Style
Economic Development TimelineThe West & Singapore – Economic AchievementsBusiness Culture & Management Style
New Developments
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2
3
4
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Business CultureIntegrated Working Culture & Lifestyle
How they do business
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Diversity in Ethnicity
Relationships and Communication
Dining
2 Individualistic or Team Player
purely hierarchical environment
not based on wealth, magnitude of home company one represents, but
close ties fostered
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Paternal – extends beyond office hours Saving face & maintain harmony
Business Culture
high power distance and collectivism
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Gifts and business cards
Decision Making & Negotiations Communication styles
Meetings & Timelines
7 Relationships and Communication
Integrated Working Culture & Lifestyle– cont’d
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not based on wealth, magnitude of home company one represents, but
close ties fostered
Management StyleIntegrated Business Management Culture
What they expect, how they act…
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4
5
Respect and Obedience
Satisfied with being followersCross Cultural management
2 Promotion based on merit, not ties
3 Not keen on innovationChinese CEO, Indian Manager,
European Colleague, USA MNCs, Japanese client
Meeting delegation; identify decision maker
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Part FourNew developments
Economic Development TimelineThe West & Singapore – Economic AchievementsBusiness Culture & Management Style
New Developments
1
2
3
4
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New Developments
Most Effective
Least Effective
Warm and Welcoming People
Strategic alliances between indigenous business
Adopting a lot of Western business models
Where ancient tradition meets modern business culture
Highlights
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… of business culture and management style
New Developments
Most Effective
Least Effective
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Still highly cultural and sticks to values
paternalistic endorsements highly exists
Slow and receptive to individual ideas
Lowlights
… of business culture and management style
Opinion PollWhere ancient tradition meets modern business culture
blends with the modern, up-to-date western input
Technology and business
knowledge and education
Best business practices
amazing economic growth experienced
Asian Management Studies| Singapore
Asian Management Studies| Singapore
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