Finnish companies entering Singapore : analysis of business environment and cultural differences : Case: Exove Design
Hyvärinen, Helena (2019)
Hyvärinen, Helena
2019
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2019090918310
https://urn.fi/URN:NBN:fi:amk-2019090918310
Tiivistelmä
The purpose of this study was to find out what information a Finnish company needs about Singapore before entering the business environment. When internationalising, it is important to know as much as possible about the target country to be able to operate effectively right from the beginning.
The theoretical part of the study was separated into two parts: analysis of the business environment and analysis of the national culture. The research has qualitative and deductive approach. The information for the first theoretical part about business environment was gathered from various sources such as business articles, academic literature and scientific journals. For the second part about national culture, the five-dimension model of culture by Geert Hofstede was used.
The qualitative research method was used for this study. The empirical part was done by interviewing the CEO of a case company from Finland that has experienced the process of entering and operating in Singaporean business environment. The interview supported the theoretical part in most aspects and it added other industry-specific outlooks on the research.
The results of the study show that Singapore is undeniably a very different country from Finland. The cultural challenges must be addressed before entering the Singaporean market and thorough groundwork to know the political and legal differences is needed. Nevertheless, Singapore offers good grounds for business and as long companies prepare carefully there is no reason why operating in Singapore would not be successful.
The theoretical part of the study was separated into two parts: analysis of the business environment and analysis of the national culture. The research has qualitative and deductive approach. The information for the first theoretical part about business environment was gathered from various sources such as business articles, academic literature and scientific journals. For the second part about national culture, the five-dimension model of culture by Geert Hofstede was used.
The qualitative research method was used for this study. The empirical part was done by interviewing the CEO of a case company from Finland that has experienced the process of entering and operating in Singaporean business environment. The interview supported the theoretical part in most aspects and it added other industry-specific outlooks on the research.
The results of the study show that Singapore is undeniably a very different country from Finland. The cultural challenges must be addressed before entering the Singaporean market and thorough groundwork to know the political and legal differences is needed. Nevertheless, Singapore offers good grounds for business and as long companies prepare carefully there is no reason why operating in Singapore would not be successful.