Business systems in Asia explored

Source: OUP.

The Oxford Handbook of Asian Business Systems, edited by Michael Witt and Gordon Redding, is the first book to explore business systems from India to Japan. 

According to publishers Oxford University Press, much of the existing literature within the "varieties of capitalism" (VOC) and "comparative business systems" fields of research is heavily focused on Europe, Japan, and the Anglo-Saxon nations. This is the first book to produce a detailed empirical picture of the institutional structures of most Asian nations and to explore the extent that existing theory applies to the Asian context.

The Oxford Handbook of Asian Business Systems aims to address this imbalance by exploring the shape and consequences of institutional variations across the political economies of different societies within Asia. 

Drawing on the knowledge of 31 leading experts, this book presents an empirical, comparative institutional analysis of 13 major Asian business systems between India and Japan. To aid comparison, each country chapter follows the same outline. Complementing the country chapters are eleven contributions examining major themes across the region in comparative perspective and linking the empirical picture to existing theory on these themes. A further three chapters provide perspectives on the influence of history and institutional change. The concluding chapters spell out the implications of all these chapters for scholars in the field and for business practitioners in Asia.

Michael A. Witt is a Professor of Asian Business and Comparative Management at the Singapore campus of INSEAD. He is also the General Editor of Asian Business & Management, an SSCI-listed journal on business and management in the Asian context. He is an Associate in Research at the Reischauer Institute at Harvard University, and has written a number of books, including The Future of Chinese Capitalism with Gordon Redding (OUP, 2007), Changing Japanese Capitalism (Cambridge University Press, 2006), and an eight-volume edited compilation of seminal contributions on Asian business and its institutional context, Major Works in Asian Business and Management (SAGE, 2012). 

Gordon Redding is based at INSEAD in Singapore, teaching Asian business. He holds an Emeritus Professorship at the University of Hong Kong where he taught for twenty-four years, and where he founded and directed the business school. He is also Secretary-General of the HEAD Foundation in Singapore, a think-tank devoted to regional issues of social capital and development via higher education. His books include The Working Class Manager (Saxon House), Spirit of Chinese Capitalism (de Gruyter), and The Enterprise and Management in East Asia (Centre of Asian Studies), edited with Stewart Clegg and Dexter Dunphy.

The 752-page paperback (ISBN 978-0-19-874542-6) was launched in April 2015, and costs £30. This book is also available as a hardback or an e-book. 

Other editions of this book have been quoted extensively. View the list on Google Scholar.

Real estate professionals upbeat about Asian economies

The Royal Institution of Chartered Surveyors (RICS) and professional recruiters Macdonald & Company have announced that average salaries for real estate professionals have shrunk over 2013 as part of the findings of the annual Asia Rewards & Attitudes Survey 2014. 

The report found average salaries fell 3.4% for real estate professions in Asia, at around US$96,087 (HK$749,479), chiefly due to a significant 21.4% decrease at the Executive Director/ MD/ CFO/ COO levels.

This occurred despite 55.8% of respondents receiving an average of 10% increment in base salary. Malaysia leads Asia region with a salary growth of 11%. Salary increases in Hong Kong and Singapore have averaged 9.2% and 9% respectively, while mainland China salary growth grew 7%.
 
Professionals in mainland China enjoy the highest average salary per annum at around US$138,400 (approximately HK$1,079,520) when compared to Singapore at around US$125,580 (approximately HK$979,524), Hong Kong (US$98,929, approximately HK$771,646), and Malaysia (US$71,804, approximately HK$560,071).
 
Respondents with the RICS qualification working in the Asian real estate markets continued to secure 42% more salary against those who were not professionally qualified (US$73,861, approximately HK$575,765) though their average salary dropped 13% year on year to US$105,159 (approximately HK$820,240).

More than six in ten (62%) of respondents say they are fairly likely or very likely to change jobs in the next 12 months, which is slightly up from 60% last year. Salary remains the primary factor when it comes to job satisfaction as voted by 75% of respondents.

Overall, the Asian region is demonstrating an improvement in economic activity or business sentiment. More respondents (48%) across the region are predicting a growing economy in their respective markets compared to the previous 12 months (40%). Those in Singapore are generally the most optimistic with 55% anticipating an increase in economic activity, while 40% of those in China anticipate an increase.

The survey also showed that the construction industry in Hong Kong and Singapore is buoyant and developers in both locations have continued their plans in mainland China.

Dr Daniel Ho, RICS Governing Council member cum Chairman, RICS Hong Kong commented: "It is the 8th year that RICS commissioned this survey in Asia. The results give property professionals and clients valuable guidance on the industry trend on work attitude and level of rewards which helps career and business plans. I am glad to see that respondents expect an optimistic economic growth in the region and hiring intention is on the rise. 

"The property sector faces a shortage of surveying professionals in different areas. We urge for more investment of resources into education and training to meet this need. RICS is committed to setting and upholding the highest standards of the industry and its members. We are happy to know that our qualification enables members to secure significantly higher rewards."

William Glover, International Director, Macdonald & Company said: "Macdonald & Company is delighted to extend its work with RICS in Asia into its eighth year. This year's results are revealing in that over 60% of staff consider it likely that they will move jobs over the next year. It is, therefore, imperative that managers take care to plan ahead and provide the right environment for their staff to thrive in their businesses."

The full survey report is available at: http://www.macdonaldandcompany.com/Salary-Survey

*The RICS and Macdonald & Company Asia Rewards & Attitudes Survey is an annual survey done by RICS and Macdonald & Company. It is the most comprehensive survey undertaken for the property sector. 1,525 Asian real estate professionals participated online between November 2013 and January 2014, representing an increase of 16.6% respondents compared with last year.