International Business Paper, China

7/29/2019 International Business Paper, China

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International Business Paper. 1

International Business Paper

Christopher Baker

[email protected]

Professor Baldrige

Queens University of Charlotte

October 22nd

2012
mailto:[email protected]:[email protected]


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Table of Contents

Abstract

Background information

Business etiquette and rules

Travel Requirements

Business Article

Reference page


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Abstract

Writing lab assignment #7, my main goal is always to continue to improve my writing

skills by acknowledging the feedback from Professor Baldrige from my previous papers, and

making sure I improve on my weaknesses. Singapore was my country of choice and I

carefully broke down the paper into three main topics, background information, business

etiquette and rules and travel requirements. I then wrote a reflection on a business article on

Singapore. I will continue to making improvements in my writing to reach my desired goal of

an A grade in this class.


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International Business Paper; Singapore

Understanding different cultures and how they conduct themselves in business abroad

is essential to any company to becoming successful in their industry. Companies have to

appeal to a diverse international market and audience to be competitive. Developing a global

business model will communicate what your company brand, product and service is offering.

Failure to understand these key principles will lead the company or individual to lose

competitive edge other others in their industry. With this in mind, I will research into how to

conduct business in Singapore.

Background information:

Founded as a British trading colony in 1819

Population of 5,353,494 (July 2012 est.) 114

th

in world rankings.

Unemployment total: 12.9% world ranking 87 th . GDP: Ranked No.1 $56532 (Forbes) Political: Republican government. Economy: Free-market Exports: Electronics, pharmaceuticals, information, technology

products and financial service sector.

Major Corporation: Singapore Telecom, Wilmar International Food,DBS Banking, United Bank and Singapore Airlines are the top five

corporations making 96% of Singapores generating over $9 billion

dollars.
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2119rank.html?countryName=Singapore&countryCode=sn&regionCode=eas&rank=114#snhttps://www.cia.gov/library/publications/the-world-factbook/rankorder/2119rank.html?countryName=Singapore&countryCode=sn&regionCode=eas&rank=114#snhttps://www.cia.gov/library/publications/the-world-factbook/rankorder/2119rank.html?countryName=Singapore&countryCode=sn&regionCode=eas&rank=114#sn


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Business etiquette and rules of Singapore include the following:

Introductions : Arranging your meetings in advance, and being on timeis essential.

Presentation: Image and presentation is important, suit and tie isessential for all business appointments and meetings.

Expectations: Carrying business card at all times is expected. Manners: Handshake and look in the eye lasting up to 10 seconds is

required as body language and first impressions are highly regarded.

Singaporeans dont usually get appetizers or anything to drink and it is

not favored to tip after the meal.

Gift giving: Offering an inexpensive present as a welcome gift or athank you gift is advised. Suitable gifts: chocolates, or a souvenir from

your country.

Travel Requirements:

Necessary: Passport that is valid for six months beyond the date of your stayis required.

A visa for tourist or business visits of up to 90 days is not required.

Transport: Singapore's main transports; buses, trains and taxis, and these areall forms of public transport, which are inexpensive and reliable.

Driving is done on the left side of the road.


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Business Article on Singapore:

Over the last 45 years, Singapore GDP has increased by 24 times, making it

one of the financial countries of the world. Siddiqui, Kalim a specialist in

Development Economics and a professor at the University of Huddersfield

University looks into how Singapores rapid transformation during the mid-1960s.

The government lacked capital to invest overseas, as a result of the Cold War.

Foreign investment was the only option to fill this gap; this lead to a high demand of

labour intensive jobs and start-up businesses to export goods and bring capital into

the country. Savings were consequently made as there was less demand to import

goods, which lead to the rapid growth in Singapores economy. However, due to the

finical crisis in 2006, the demand of importing goods has significantly dropped and

Singapore has suffered in depression. Manufacturing, in the form of labour and

construction was the result of the 28% increase in GDP which has led to a large

scale of less educated workers. Singapore is currently in the process of developing

their education to increase infrastructure and overseas investment and not just

relying on exporting goods in the manufacturing sector.


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References

Central Intelligence Agency. (2012).East & Southeast Asia . Retrieved from,

https://www.cia.gov/libarary/publications/the-world-factbook/geos/sn.html

Ofori, George. (1998). Construction Management & Economics. Retrieved from,

http://ehis.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=0ea59425

c5f04972-97a1ba8d4a3f9ff5%40sessionmgr115&vid=11&hid=26

Nam, S. (2012). Singapore's Richest 2012.Retrieved from,

http://www.forbes.com/sites/suzynam/2012/07/25/singapores-richest-2012/
http://ehis.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=0ea59425c5f0http://ehis.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=0ea59425c5f0http://ehis.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=0ea59425c5f0http://ehis.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=0ea59425c5f0

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International Business Paper, China