Tutorial 2

Fam Li Mei Lidwina Suzanne Marcellinus

SINGAPORE VS HONG KONG

INTRODUCTION
HONG KONG is a city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea. Singapore is a Southeast Asian city-state off the southern tip of the Malay Peninsula, 137 kilometres (85 mi) north of the equator.

Compare the cultures between the Hong Kong and Singapore

Languages - For Singapore there are four national languages: Mandarin, Malay, Tamil and English but for business and politics, English is the language of choice. - For Hong Kong the English and Chinese are Hong Kong's two official languages but the English is the languages of business

 Attitudes and beliefs - for Singapore is Meritocracy, Social and religious harmony, and Democracy, peace, progress, justice and equality. - for Hong Kong is Chinese folk religion, bagua and the number in Chinese culture

 Ethnic groups -Singapore has several distinct ethnic neighborhoods, including Little India, Chinatown and Kampong Glam. - Hong Kong has ethnic Chinese people naturally lean toward substantial communities of Hakka, Fukien, Teochew and Shanghainese people

 Cuisine - the famous foods in Hong Kong are dim sum, da been lo and fast food. - the famous foods in Singapore are traditional foods from Malay, Chinese and Tamil.

The costs of doing business in each country

Perception of the customer - The perception of customer in Hong Kong is slightly different with Singapore: a)The way they perceive the value and the price of product are different b) convenience products for customer in both country are different

 Labor costs - minimum wage in Hong Kong (apart from the Minimum Allowable Wage (MAW) for foreign domestic helpers (FDHs), which is currently set at HKD3,580 per month) - minimum wage in Singapore for foreign labors are SGD 1,000 above.

 Technologies - technology in Singapore modern than before where the technology is important for all industries in Singapore. - Technology in Hong Kong and Singapore are slightly the same but the price in both country are different.

Future Economic Development

Based on the GDP of a country - The nominal per capita gross domestic product (GDP) refers to the value of goods and services produced per person in a country - The GDP for Hong Kong is $307.6 billion but for Singapore is $240 billion

Based on the economic system of a country -the both country are capitalism but slightly different. Because the Singapore are more to the Socialism. - The government in Hong Kong is not control fully on the business activity like price setting but in Singapore most are based on the government decision.

 Based on the economic planning from year to year - Economic planning are based on the GDP of the country so that the different country has different GDP will effect the economic planning in one country. Based on the interest rate from year to year - because of the interest rate in one country are different based on the currency of one country.

Business Practices
SINGAPORE As each ethnic group has a different way of using names, it is advisable to ask a Singaporean what he/she would like to be called. When meeting a person for the first time, it is wise to use the appropriate title and last name until told differently.

 A light handshake is the common form of greeting in business situations. Normal business attire consists of dark trousers, long-sleeved shirts and ties for men, and blouses, skirts or trousers for women. Due to the hot and humid weather, jackets are not usually required. Although Singapore is a liberal country, women should make sure they do not wear clothes that are too revealing.

 business discussions, Singaporeans tend to In be calm and composed and do not openly show their emotions. Speaking too loudly is considered rude. Negotiations are often conducted at a slow pace and Singaporeans are likely to bargain hard.

HONG KONG The standard dress code is business suits for men and suits with trousers or a skirt for women. Both the traditional Chinese bow and the Western handshake are common greetings. When greeting a group of people, the most senior person should be greeted first. People are generally addressed with their title and last name. Often Hong Kong businesspeople adopt an English first name or nickname to make it easier for foreigners to remember and pronounce.

 Negotiations are often long and tedious as every detail is examined and analyzed carefully. Foreigners should make an effort to be calm as aggression and impatience is unacceptable in Hong Kong business culture and will cause you to lose face. decision-making, group consensus is the In norm, but with the top of the company having the last say.

Conclusion
Both country practice different culture thats why we should use different business strategy. By identify the differences, we can know which business can we introduce and make the business can be accepted by the local. Since each country have their own culture and customs, we should respect them as well we can get the stable place there since our business being accepted by them.