1. Eyitayo Laleye Nancy W. Arrindell
495245 493948
Global Economy in Transition
Minor
Term 1, 2012
Asian Management Studies| Singapore

2. Introduction
Things to be discussed
1 Economic Development Timeline
2 The West & Singapore – Economic Achievements
3 Business Culture & Management Style
4 New Developments
Asian Management Studies| Singapore

3. Part One
Timelines and Pattern
1 Economic Development Timeline
2 The West & Singapore – Economic Achievements
3 Business Culture & Management Style
4 New Developments
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4. Singapore’s Yearbook
Economic Development Timelines
Between 1819 and 1869
Arrival of British and Chinese immigrants
to work
Between 1873 and 1913
Trading 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 1999
Rapid development and effective
urbanization
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5. Singapore’s Yearbook
Economic Development Timelines – cont’d
1997 to 2003
Recession; Increased trade
agreements
Political stability and Infrastructural
development
2004 to date
Casino ban lifted; Economics growth
2008 till present
Global Financial Crisis hits worldwide
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6. Part Two
Historical Contacts between the West and Singapore
1 Economic Development Timeline
2 The West & Singapore – Economic Achievements
3 Business Culture & Management Style
4 New Developments
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7. Economic Achievements
Historical Contacts between the West and Singapore
Settlements, Relationships & Partnerships
*
1 Portuguese: The destructive invaders
2 Britain: Colonial position and British East India
Co.
3 United States: Diplomatic relationship and Trade
agreement
4 Rest of The World
5 International Organizations – UN, WTO, ASEAN,
IMF
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8. Economic Achievements
Historical Contacts between the West and Singapore
Attitudes towards Western Companies
*
1 Free market economy
2 Positive attitude reflects early relationships from
17th century
3 Strong influential multicultural environment
4 A place where East meets West
5 World leader in Foreign Trade and Investment
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9. Economic Achievements
Foreign Direct Investment Flows
Highest FDI Sector Investments
2009 ($ billions) 2010 ($ billions) Share in 2010 (%)
Total 573,3 618,6 100,0
Manufacturing 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
38,2 35,6 5,8
Services
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10. International Trade
Important Trade Partners: Export
Main Export Partners
11,6 % Hong Kong
11,5 % Malaysia
11,2 % United States of America
9,7 % Indonesia and China (each)
4,6 % Japan
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11. International Trade
Important Trade Partners: Import
Main Import Partners
14,7 % United States of America
11,6 % Malaysia
10,5 % China
7,6 % Japan
5,8 % Indonesia & South Korea
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12. Part Three
Typical Business Culture and Management Style
1 Economic Development Timeline
2 The West & Singapore – Economic Achievements
3 Business Culture & Management Style
4 New Developments
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13. Business Culture
Integrated Working Culture & Lifestyle
How they do business
1 Diversity in Ethnicity purely hierarchical environment
2 Individualistic or Team Player
not based on wealth, magnitude of home
3 Relationships and
company one represents, but close ties
Communication fostered
4 Paternal – extends beyond
office hours
Saving face & maintain harmony
5 Dining
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14. Business Culture
Integrated Working Culture & Lifestyle– cont’d
high power distance and collectivism
not based on wealth, magnitude of home
company one represents, but close ties
6 Gifts and business cards
fostered
7 Relationships and Communication
8 Decision Making & Negotiations
9 Communication styles
10 Meetings & Timelines
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15. Management Style
Integrated Business Management Culture
What they expect, how they
act…
1 Respect and Obedience
Meeting delegation; identify decision
2 Promotion based on merit, not ties maker
3 Not keen on innovation
Chinese CEO, Indian Manager, European
4 Satisfied with being Colleague, USA MNCs, Japanese client
followers
5 Cross Cultural
management
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16. Part Four
New developments
1 Economic Development Timeline
2 The West & Singapore – Economic Achievements
3 Business Culture & Management Style
4 New Developments
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17. New Developments
… of business culture and management style
Highlights
Warm and Welcoming People
Most Effective
Strategic alliances between indigenous
business
Least Effective Adopting a lot of Western business models
Where ancient tradition meets modern business
culture
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18. New Developments
… of business culture and management style
Lowlights
Still highly cultural and sticks to values
Most Effective
paternalistic endorsements highly exists
Least Effective
Slow and receptive to individual ideas
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19. Opinion Poll
Where 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
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20. THANK YOU
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