research paper - singapore

Asian Management Studies| Singapore

Nancy W. Arrindell493948

Eyitayo Laleye495245

Global Economy in Transition Minor

Term 1, 2012


IntroductionThings to be discussed

Economic Development TimelineThe West & Singapore – Economic AchievementsBusiness Culture & Management Style

New Developments

1

2

3

4

Part OneTimelines and Pattern


New Developments

1

2

3

4


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


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


Part TwoHistorical Contacts between the West and Singapore


New Developments

1

2

3

4


Economic AchievementsHistorical Contacts between the West and Singapore

Settlements, Relationships & Partnerships

1

2

3

4

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

*


Economic AchievementsHistorical Contacts between the West and Singapore

Attitudes towards Western Companies

1

2

3

4

5

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

*


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


International TradeImportant Trade Partners: Export

Main Export Partners

Hong Kong

Malaysia

United States of AmericaIndonesia and China (each)Japan


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


14,7 %

10,5 %

7,6 %

5,8 %

11,6 %

Part ThreeTypical Business Culture and Management Style


New Developments

1

2

3

4


Business CultureIntegrated Working Culture & Lifestyle

How they do business

1

3

4

5

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


Paternal – extends beyond office hours Saving face & maintain harmony

Business Culture

high power distance and collectivism

6

8

9

10

Gifts and business cards

Decision Making & Negotiations Communication styles

Meetings & Timelines

7 Relationships and Communication

Integrated Working Culture & Lifestyle– cont’d


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…

1

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


Part FourNew developments


New Developments

1

2

3

4


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


… of business culture and management style

New Developments

Most Effective

Least Effective


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



THANK YOU

research paper - singapore

Documents