The Cultural Assessment of Business in Singapore

Running head: THE CULTURAL ASSESSMENT OF BUSINESS IN SINGAPORE
THE CULTURAL ASSESSMENT OF BUSINESS IN SINGAPORE
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THE CULTURAL ASSESSMENT OF BUSINESS IN SINGAPORE1
Introduction
The topic is going to be discussed on the cultural assessment of the business
environment along with the desired outcomes in Singapore. The essay is going to be
structured on an analysis, issues, and risk factors, and the severe consequences attached to it.
The global business environment is referred to like the ambience belonging to different
sovereign countries. Several factors are responsible for outward aspects related to the
household environment of any organisation, influencing the business strategies and in
decision-making based on the utilisation of several resources as well as capabilities. The
essay will be channelised by utilising Hofstede’s cultural dimension in business to support
the thesis appropriately so that the readers can stimulate their ideas accordingly. The primary
purpose of this essay is to provide an analysis and literature review on the cultural assessment
of the business environment in Singapore by providing enough evidence on the risks and
issues related to this business environment.

THE CULTURAL ASSESSMENT OF BUSINESS IN SINGAPORE2
Discussion
The global business environment is referred to as the environment in various
sovereign countries based on several factors which are extrinsic to the household
environment of any organisation. In this way, it may influence in decision-making while
utilising the resources and an individual’s capabilities. The global business environment
could be divided into internal as well as external environment. In the domestic environment,
there are some underlying factors such as decision-making, risk-taking, individual choices,
and activities, planning strategies and executing such strategy and organisation. These are the
essential factors responsible for running an organisation and other significant factors such as
organisational structure, culture, and management structure. In the external environment,
there are some factors such as economic, political, social, taxation, and cultural, legal,
regulatory and technological advancements. Thus, to maintain an organisation effectively and
adequately, organisations need to understand the primary engagement with society and
accepting different cultures. The organisation have to cooperate with the social factors of an
environment of a host country and need to understand their process of operating such
functions.
Singapore is one of the best places for starting a business or sustaining an organisation
for many years and has been recognised as a unique position in the global field economy. It
plays a pivotal role as the epicentre of business in the heart of Asia. Some significant factors
have made it possible and they are the location, healthy working environment, competitive
field of work, policies based on economic factors and cultural factors. In this way, Singapore
has given access to the world of business, along with advanced technologies.
In an article, the author Kasemsap have given a brief introduction to the significant
role played by the global business environment and the impact of developing technologies as
well as social networking on leadership in global business (Kasemsap, 2014). The author has