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THEMES “Asian business success” today is part of

THEMES “Asian business success” today is part of a political, economic and cultural response to historical trauma Asian political-economic systems challenge “the standard model” Challenges and questions: Rise or Rebirth? (Old traditions, New States) “Clash of civilizations”? Globalization?

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THEMES “Asian business success” today is part of

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  1. THEMES “Asian business success” today is part of a political, economic and cultural response to historical trauma Asian political-economic systems challenge “the standard model” Challenges and questions: Rise or Rebirth? (Old traditions, New States) “Clash of civilizations”? Globalization? Role of the state? Development and democracy? Democratic peace? “Asian values”? Problems of history “Scratches on our minds” Nationalism The colonial question

  2. CONSIDER CULTURAL “RENAISSANCE” UP FROM POVERTY RECOVERY FROM WAR The “Culture Argument” The “Asian Model Argument” The “Political Argument” Legitimacy though economics/Nationalism The “Globalization/American Peace Argument” The “People Argument” Leadership

  3. Challenges Post-WWII Identity Reform FDI “Ersatz Capitalism” Globalization Competing in the global marketplace OEM or Branding?

  4. BUSINESS SYSTEMS Conditioned by history and culture Linked elements *What are the authoritative institutions? Law/Party/Custom *How is the system coordinated? Ownership/Networks/Management Style Authority & Control *How is the system organized? Structure Strategic Orientation Market Relations *What are the resources? Capital/Human Resources/Social Capital Personnel Practices

  5. Why should we care about “business systems”? • All businesses (economies) are systems • Systems key characteristic: change one part, change all other parts (problem of unintended consequences) • 2.Appreciating the business system of your target market/potential partner lets you anticipate issues, plan better.

  6. One typology: • Post-Socialist economies • Emerging SEA economies • Advanced City economies • Advanced Northeast Asian economies • (including Japan) • Significant differences? “Multiplexity” “Hierarchy” “Social Capital” “Informality” “Culture”

  7. Using the Redding/Witt Framework, define US business system Education/Skills Formation Employment Relations Financial System Interfirm Relations Internal Structure Ownership/Corporate Governance Social Capital Role of the State

  8. China HongKong India Indonesia Japan

  9. BUSINESS SYSTEMS “GREATER CHINA” PRC SOES/Private/”Local” China’s “Golden Rule” (MG) Taiwan Entrepreneurial/Hi-Tech/SMEs Family Hong Kong The “Hongs”/Family/Finance Overseas Chinese (Huaqiao 华侨) Family “Bamboo Network”

  10. “Multiplexity”? Economist, “Capitalism Confined” 3 Sep 11

  11. JAPAN Keiretsu & Sosha (Kaisha) Employment “Patient capital” Trust SOUTH KOREA Chaebol Out of the 5 Year Plan SOUTHEAST ASIA Highly varied INDO-CHINA Thailand Vietnam

  12. BUSINESS SYSTEMS (Another look)

  13. Leadership – One of the keys Many types , but some shared characteristics “Confucian” Combination of authoritative/benevolent/collective/moral Long Term…seeing relationships, “over the horizon” Moral Frugal, CSR Employee-centered, firm as family Relationships & Networks (guanxi 关系） Work ethic Pressing the buttons China: $ (instrumentalism, exploitation) Japan: encouragement (gambate) Korea: stability

  14. LEADERSHIP ORIENTATIONS IN ASIA

  15. McGREGOR: CHINA AS A START-UP AND A TURN-AROUND CAN APPLY TO ASIA AS A WHOLE URGENCY & VISION: THE NATION-FAMILY REFORMS: “FEELING THE STONES” CONTROL AND ROUGH JUSTICE (RULE BY LAW, NOT RULE OF LAW) ELITISM/INEQUALITY

  16. OTHER APPROACHES TO BUSINESS SYSTEMS: • “EASE” • “GCR” • THE CHALLENGE IS TO SEE HOW THEY ALL FIT

  17. “EASE OF DOING BUSINESS” • STARTING A BUSINESS • CONSTRUCTION PERMITS • ELECTRICITY • REGISTERING PROPERTY • GETTING CREDIT • PROTECTING INVESTORS • PAYING TAXES • CROSS-BORDER TRADING • ENFORCING CONTRACTS • RESOLVING INSOLVENCY ALL OF THESE DEAL WITH “RULE OF LAW” MATTERS; “INSTITUTIONAL” ISSUES IN THE GCR FRAMEWORK

  18. GLOBAL COMPETITIVENESS REPORT • A systematic approach to growth/”competitiveness” • From factor driven (basics) Teleological? • “Institutions” • Infrastructure Compare with Rostow? • Macro-econ. Stability • Health/Primary education (UNDP- HDI) • To efficiency driven (production) • Higher ed • ”Goods market” • Labor market • Finance • Tech readiness/ • Market size • To innovation driven • Management • Innovation support

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