The main objective of this report is to study the effect of political, economic, social and technological influences to business culture in Singapore. Then, we will further discussed on the strength, weaknesses, opportunities and threat of this influences while doing businesses in Singapore. It is important as it help the businessmen to have a better understanding of Singapore’s religion, language, negotiation style, business etiquette, the value they appreciates in relation to business. This will aid the businessmen in the decision making process and thus making the right decision for the entire business activities.
Despite its small size of country, Singapore is known for being among the Most Open Economy by the Heritage Foundation’s Index of Economic Freedom. Not only that, Singapore is one of the world's most prosperous countries with strong international trading links. Their per capita GDP is equal to that of the leading nations of Western Europe. Being among the world’s most open economy, Singapore is highly welcomed foreign investment to invest in its market. However, doing businesses in Singapore can be tricky if the foreign businessman does not understand the basics of the Singaporean culture.
Therefore, the purpose of this report is to discuss on the strengths, weaknesses, opportunities and threats of political, economic, social and technological influences in relation to business practices and cultural beliefs of Singapore. This is to have a greater understanding of the differences in the host country and home country and relate it to the business context in order to avoid misunderstanding and misinterpretation. The report aims to do so by providing a study on the mindset of the people in Singapore who are highly influenced by Confusianism and as well as influenced its colonized power,British.
REVIEW OF CASE STUDY
The case study of ‘Singapore Airlines: A World Leading Operator’ is about the Singapore most...