BUSI2023: Dynamics of Asian Business - Business Systems in Asia - Management Assignment Help

Assignment Task:

Task:

Business system (1)

• Previous version of the textbook had a more simple definition: o ‘complex adaptive system in which the business component of a society is analysed against the context of that society’ o happy me: this leaves ‘context’ largely unspecified, analysis can emphasise one element of context more than other, where relevant

• But current textbook: ‘complex adaptive system’ with 10 general principles (pp.4-5) o all 10 are true, but very abstract o all 10 principles serve to conceptualise business system concept o later chapters specify aspects of the business systems in Asia: across countries in themes

for individual Asian countries

Business system, great, but …

• Chapter 1 is very deterministic (= nothing is random) about a ‘business system’: there are 3 layers, each with 3 components, nothing else • Good = multitude of factors impact on how a business system takes shape.

• But but keep in mind: a. combinations of factors & degrees of their relevance differ by country b. subjective selection of components - in reality other contextual factors also impact on a business system, e.g. • relative resource endowments (= land scarcity), or

• the distribution of political power in society c. change is not uniform across countries (there are no ‘iron laws’ dictating + predicting the development of a business system ! )

• Therefore some elements that seem random, because not conceptualised in the business system concept, but may still be relevant

Chapter is vague about relative size of economies & stages of development + impact on change in business systems in Asia

• Size and stage of development also impact on each business system

• Large countries have: o large populations = greater cultural heterogeneity, which mitigates notion of a national culture, which is foundation of business system concept o large economies = likely uneven economic development across all regions, which mitigates notion of a truly national business system

• Stage of development matters, because it impacts on e.g. o availability of government revenues (‘taxes’) & government expenditure on e.g. public infrastructure, enforcement of policies, social services etc.

o availability of human capital (education = expensive) & financial capital (higher income societies save much more) for productive use

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