International Business management Journal Article - 1

International Business management Journal - Article Example e article that foreign management strategies require some prerequisite skills and exposure on the cultural diversity, political characteristics and economic size of that particular economy. Financial institutions are getting it even tricky due to the great economic parity across different countries and Singapore case is not exceptional. There is much need for a foreign manager especially assigned in Singapore to note the significant role their patriarch culture plays in the business field. The central issue addressed in this article is critical leadership skills that outs one in a vantage position to manage a foreign business in Singapore. The increasing pressure of globalization has exposed many forms to risk of failure unless new approaches are given to the management style. As the author exposes through the interview in this article, any foreign manager shifting to Singapore need to familiarize himself/herself with a wide scope of socio-economic structures that dictates its busine ss environment. One of the critical aspects of successful business management in Singapore is their culture of utmost respect to the elderly. It is relatively challenging to reconcile leadership approaches of handling staff with the high expectation of respect to the elderly. This is particularly a difficult situation for a young foreign manager in this Asian country where it happens that the old forms the largest portion of the employees. This requires one to undertake an assessment of the patriarch cultural system of this community and developing relevant strategies of fitting within this important social order. It is clear that one need to learn to be accommodating, listening and caring to gain respect and general acceptance within this country. Several countries have local social order that significantly explain their consumption behavior, workplace conduct and the overall business climate exhibited. It is therefore important for a multinational manager to be very cautious when