Answered You can hire a professional tutor to get the answer.
Compose a 1750 words assignment on successful entry of steelcase usa in malaysia due to cross-cultural understanding. Needs to be plagiarism free!
Compose a 1750 words assignment on successful entry of steelcase usa in malaysia due to cross-cultural understanding. Needs to be plagiarism free! The scenario in the Far East Asian region also suggests nothing contrary. Malaysia holds third place after Thailand and Indonesia in terms of high concentration of family control which lately increased from 57.7% to 67.2% lately. (Claessens 2000)
Family businesses have now become an element of significance for the corporate economy. The reason for this may be the fact they have prevailed for long, alongside their track record of high performance. This success by family-owned firms is categorically acknowledged in literature and other studies by scholars and practitioners.
Similarly in the Asian region, family-owned corporations have shown high performance in Australia, Singapore, Hong Kong, and Taiwan. For Malaysia, Quek Leng, Lim Goh Tong, and Robert Kuok (of Kuok Brothers) are synonymous with corporate dominance in the industry (Ibrahim & Samad, 2010).
Steelcase, in 2008, stood on a fiscal year revenue of $3.5 billion. The corporation holds 35 manufacturing facilities present globally including the one in Malaysia which serves the Asia Pacific region. This facility in the Puchong, Malaysia is one of the three major factories. The other two are in Japan and China. But for establishing such a source of sound business, Steelcase had to dig deep down as to how the opportunity could be tapped, thus resulting in what today is 35% of the total revenue that the company generates. In essence, prior to exploring the markets in Malaysia, it was vital to have a clear understanding of the family-run corporate culture that rules the scenario.
Confucianism is the major traditional value and philosophy followed by the Korean people and is a major influence on Korean society, family relations, and work culture. The concepts taught by Confucius focus on the teaching of moral values that stress on respect for old, loyalty to superiors and family, filial piety, and developing harmonious interpersonal relationships. In order to create harmony, Confucius has created a hierarchical society with five different forms of relationships: parent and child, ruler and subject, husband and wife, elder and younger, and friend with friend.
