Going Global Case Study

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Every business will face challenges when exploring new markets even with a proven business model, funding, and insurance against fluctuating exchange rates. Nevertheless, there are several reasons that going global will lead to success as initial research reveals. With Singapore as the leading candidate with so many positive attributes, there is no guarantee to success, but persuading targeted stakeholders of the benefits will ease concerns with expansion.
Benefits such as new revenue potential and access to a larger base of customers can lead to even more investment opportunities and allows for more diversification. Diversification in itself can protect from unforeseen circumstances that effect domestically based revenue by offsetting with
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Singapore for example, follows a Confucian (Chinese) background a normally have a syncretic approach to religion and teaches the stability of society (https://geert-hofstede.com/singapore.html). According to Hofstede’s () cultural dimensions, Singapore-which is a multi-ethnic society comprised of 77 percent Chinese, the Power Distance scores a 74. This dimension deals with the fact that all individuals in societies are not equal and less powerful members of organizations within a country expect and accept that power is distributed unequally. Confucius distinguished five basic relationships: ruler-subject; father-son; older brother-younger brother; husband-wife; and senior friend-junior friend. These relationships are based on mutual and complementary obligations and is reflected in a high Power Distance score. In comparison, the United States scores a 40, which means everybody is unique, yet social control ensures that most people will not deviate too much from the norm and power is distributed more evenly. Inequality is endorsed by the followers as much as by the leaders and does not have the same dynamics as Singapore’s Confucius culture. Power in Singapore is centralized and employees expect their bosses to make decisions. This approach is different from American culture where most bosses expect employees to work on their own with little direction. Without knowing this, going into Singapore with American business styles can sever budding relationships if roles are not understood. Exploring Hofstede’s cultural dimensions further shows a stark contrast in the Individual dimension among Singapore and the United States. The United States scores a 90 on the scale, whereas Singapore scores a 20 respectively. Individualist societies like in the United States, people are supposed to look after themselves and their direct family only. This

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