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Singapore : The third most global country

Singapore : The third most global country. Iesha Rush Alycia childress Charles keyes. Business Background.

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Singapore : The third most global country

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  1. Singapore:The third most global country Iesha Rush Alyciachildress Charles keyes

  2. Business Background • Singapore has become a very influenced Asian economy advancing in the business world. According to there status they have become the number one destination for locating US and European business offices. In result it was a change in attitudes and new processes were being implemented. • They inherited and believed in business ethics of Confucian in Chinese culture • Their autocratic style has been a remarkable change in economic benefits as well as social benefits of lower crime rates, and lack of poverty • Informal business relationships come before formal. Asia as a whole is a essential for understanding relationship building and maintenance.

  3. Globalization • Ernest and Young Corporation recently released ‘2011 Globalization index’ ranks Singapore the third largest place after evaluating there economic growth in openness to trade, capital movements, exchange of technology and ideas, labor movements, and cultural integration for the time span 1995-2015. Singapore has recorded no variations of change in the overall ranking for the year 2011. In addition, they facilitate investment and social development creating a strong international image.

  4. Success in Globalization • Openness to trade: Singapore is known for is spacious perimeter for movement of goods and services and notable for cross-broad training. • Capital movement: They have a well-integrated financial market that provides growth in direct investment inflows. • Labor Movements: Opportunities for thriving individuals are opening as an outcome of open immigration policy and visa schemes. Due to Singapore's range of economic offers and equality it has made them the most popular target for global talent. • Exchange of technology and goods: Singapore strives on innovative and research-centric activates due to becoming successful incorporating a knowledge-based economy. • Cultural integration: Successful in increasing strong arts and cultural resources.

  5. Traditions • Singaporean youth society is growing more “westernized” everyday. However, elderly generation tend to stick to there own traditions. • Rude to point with foot. Even if object is on the floor. • Handing over objects with both hands constructed as a sign of respect. • Politely accepted to address people as uncle or auntie, even if they don’t know them well. Chinese • Very superstitious Muslims • Don’t eat pork or alcohol Hindus • Don’t eat Beef • Strict Vegetarian's

  6. Singaporean’s Culture • Singapore is a cosmopolitan society where people come to live harmoniously and interaction among various racial groups. Immigrants who have settled on this island bring mixture of Malay, Chinese, Indian, and European influences all of which have been acquainted with each other. • Designated areas were given to the different ethnic groups by a man named Sir. Stamford Raffles • Buildings influenced by British colonial • Own distinctive religions and festivities • Many Different cuisines to offer in this city based on ethnic traditions and culture.

  7. Business Structure • Several companies are family-run businesses and tend to be in competition with other funded business for seniority. • Major Decisions are made by senior levels or high ranked management then implemented down to the rest of company. Sometimes can interfere with lack of respect.

  8. The teamwork • Singaporeans are extremely productive and successful team players in business when surrounded by like minded individuals verses team players with a more competitive attitude. • They will help you strive and explore other possibilities • Understanding that many may not consent with decisions made can sometimes cause frustration at lack of progress • If Decisions become a success or fail as a team we succeed or fail

  9. Business Communication • Singapore economic success in channeling growth in multiculturalism for a charitable society has been a way to create effective business communication between socioeconomics. • Hard to generalize as a whole because the Malay population is majority third generation Chinese as well as Indian and Arab Immigrants. Forms of Communication: • Hand Shakes • Face/Facial Expressions • Language

  10. To shake or not to shake? • Most common form of communication to meet and greet other colleagues. Each ethnic group have their own cultural traditions and etiquette. • Malays: Majority of this population are Muslim so physical touch between men and women is not common. For Malay woman you must wait for her to gesture that it is acceptable to have physical contact. Men it is normal in the business environment to greet with handshakes. • Chinese: A firm handshake is acceptable. However, Men are comfortable giving women handshakes. A tradition bow is more commonplace. Foreigners entering Singapore would not be expected to doso. • Indians: handshake is natural. Older generations and traditionalist still follow what they call Namaste. Which is a small bow with palms closed together. Some may feel uncomfortable using handshakes towards woman so most are likely to use Namaste if finding oneself in this awkward situation.

  11. Facial Expressions • Singaporeans are very polite so their style may come off vague or confusing. This is the proper way to maintain face and respect in business relationships. • Laughing or smiling are basically inappropriate during certain times of a meeting • They use a “Yes/No” formula • Ex. Would you like to meet about your proposal or not?

  12. Language • English is the islands common language also known as “Singlish”. It’s creole-like characteristics having to integrate vocabulary and grammar from the various ethnic groups of Chinese, Malay, and Indian language.

  13. Trivia Questions

  14. Is Singapore considered to be the best place in the world to work? • True • False • True

  15. What corporation ranked Singapore the third largest place? • Ernest and Young

  16. What is Singapore best known for, far as technology? • Innovative and Research

  17. What kind of business structure is Singapore known for? • A. Hierarchical • B. Flat • A. Hierarchical

  18. Is Singapore a high-context or low- context country? • High context, based on its openness to trade, exchange of technology and goods

  19. What are their three forms of communication • Hand Shakes • Face/Facial Expressions • Language

  20. The term ________ means small bow with palms closed together. • A. Shalom • B. Namaste • C. Sanskrit • B. Namaste

  21. Singaporeans are very kind so their style may come off as…… • A. angry & rude • B. rude & vague • C. confusing & vague • D. confusing & humble • C. confusing & vague

  22. Work cited • http://www.guidemesingapore.com/blog-post/singapore-business/what-makes-spore-the-worlds-third-most-globalized-economy • http://www.kwintessential.co.uk/etiquette/doing-business-singapore.html • http://www.worldbusinessculture.com/Singaporean-Business-Communication-Style.html

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