Political And Legal Systems Of Singapore

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However, even with such contrast of Hofstede dimension scores between the United States and Singapore, there are some cultural, ethnic, social, and educational characteristics similarities that are mutually accepted. Education is clearly important, English is the language of business, and punctuality, etiquette and roles are equally significant. Of course, these cultural dimensions can only provide an idea of culture, because culture in itself is dynamic and forever evolving. Outside influences and the blending of culture is inevitable in the global setting. Another tool to track the environment of a country when looking to expand is by conducting a PESTLE analysis. PESTLE is a mnemonic which in its expanded form denotes P for Political, E for Economic, S for Social, T for Technological, L for Legal and E for Environmental (PESTLE Analysis, 2016). In essence, it gives a synopsis of the political situation, economic factors, social influence on market structures, legislation and environmental concerns on specific industries. Political and Legal Systems of Singapore Using a PESTLE analysis, our organization can determine if the Political system design of Singapore can effect expansion. Political factors can influence businesses because governments may impose taxes or implement policies that alters the business environment. However, the risk of political influence on business is quite low. Singapore-a democratic country-under the leadership of the People’s Action Party (PAP), possesses a distinct political culture: authoritarian, pragmatic, rational and legalistic (Get to Know Singapore, 2016). In fact, the Political and Economic Risk Consultancy (PERC) states that the country enjoys the lowest political risk in the continent. Singa... ... middle of paper ... ...estment as it is mutually beneficial for investors and the country as a whole. The location puts it in the vicinity of other major economies such as China and Japan which could open doors for future investments there. Singapore’s population is supported by highly rated education system, which will in turn groom a workforce that should bring extensive knowledge and expertise in the future. Final Recommendation My final recommendation is to proceed with the organization’s plan to go with Singapore for globalization. Funding is secured and cultural differences are not a significant barrier to a positive outcome. However, it is not without a couple of caveats. The organization must thoroughly examine additional insurances such as hedging foreign investments and comparing our business model with competitors in the region to see if it stands a chance with so many entities.
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