ECL Operations in the Chinese Markets Essay Example | Topics and Well Written Essays - 1000 words

ECL Operations in the Chinese Markets - Essay Example It is evidently clear from the discussion that ECL failed to resist the temptation of believing in the universality of its global management policies and instead of adapting its policies to the Chinese cultural norms and practices, decided in favor of implementing its standardized policies in its Chinese ventures and subsidiaries. The net result is that though the systems and policies put in place looked suitable and methodical, it is finding it challenging to motivate and retain its Chinese employees. A saner solution in this context requires ECL to inculcate a strong Chinese cultural aspect in its otherwise standardized and effective global management policies. The origins of the problems being faced by ECL could be conveniently located in the ‘Basic Values and Objectives’ segment of this case study. So far as the key goals and initiatives of ECL in China are concerned, they are fairly reasonable and acceptable in the sense that they adhere to universal business aspira tions like the achievement of overall excellence, financial success, and effective leadership. However, when one takes a cursory look at the belief system of the company, it is then that the real problem pops out. The key beliefs of the company that had a direct bearing on the human resource management policies of ECL in China are discernibly affiliated to the Golden Rule that is â€Å"Do unto others as you have them do unto you.† The company seems to have totally overlooked the fact that the notions of effective and ethical behavior and communication are always relative and could mean different things to people adhering to different cultures. The net result is that the systems, management policies, institutions, and philosophies introduced by ECL in China are disproportionately Americanized and unsuitable. The company is intuitively aware of this discrepancy and is finding it difficult to recruit and retain the competent employees in China.

Business Finance Essay Example | Topics and Well Written Essays - 1500 words - 1

Business Finance - Essay Example Union (EU) and creation of bodies such as South Asian Association for Regional Cooperation (SCCRC), North Atlantic Treaty Organizations (NATO) and Southeast Asia Treaty Organization (SEATO) are all examples of such regionalization. Association of Southeast Asian Nations (ASEAN) is also one of these organizations which have been developed to promote the interests of the whole Southeast Asia. Being a fast growing economic bloc, observers pay a special attention towards its financial worth now and in future. Here we would focus on financial implications of ASEAN being our research question, vis-Ã  -vis other blocs and in global economy as a whole. Our research method would be primarily comparative and analytical and will be based on available historical data, both in print and electronic media, as primary research does not suit the purpose. We will also deliberate upon the individual contribution of member states wherever seems necessary. ASEAN was founded on August 8, 1967. Initially, it had five member countries namely Indonesia, Thailand, Malaysia, Philippines and Singapore. Since then, five more countries have joined ASEAN namely Brunei Darussalam, Cambodia, Vietnam, Burma and Laos making it a vibrant regional organization with ten members. Together these nations look to strengthen their political, economic, social and cultural development. With the passage of time ASEAN has provided even bigger platforms for nations of the region to sit together. One of them is ASEAN plus three where three economic giants of East Asia i.e. China, South Korea and Japan also attend the meetings to further the cause of regional development. Similarly, the creation of East Asian Summit is another step towards such regional dialogue. East Asian Summit includes New Zealand, Australia and India in addition to the ASEAN plus three states making it a meeting point for 16 nation states. 5. To mutually work for the development of agricultural, industrial and trade related issues.