Doing Business In Malaysia & UK Introduction
Malaysia and UK cultural differences towards international business can be seen through the country Economic Strength, Supportive Government Policies, An Educated Workforce, Developed Infrastructure, Vibrant Business Environment and Quality of Life. According to Geert Holfstede Cultural Dimension Research, Malaysia scores 104 the highers Power Distance Index. There is a high correlation between the Muslim religion and the Hofstede Dimensions of Power Distance (PDI) and Uncertainty Avoidance (UAI) scores. UK scores 89 for the higher INV. This is much related to the reserved and private people which means, privacy is extremely important.
The Cost Of Doing Business
World Bank said Malaysia's economy will shrink 2.3 per cent this year but rebound to a 4.1 per cent expansion in 2010. Malaysia was on track to grow between 5.6 to 5.9 per cent in 2011 and 2012. The report also said the country faced the challenge of shifting from an upper-middle economy to a high-income economy. Due to the above statement, the costs of doing business in Malaysia will increase. United Kingdom’s economy is stable and the GDP grow from 10.1 per cent to 10.9 per cent in year 2009. There is a phenomenon that unemployment is rising especially in construction and property sectors. People do not have much salary to pay their needs and cash transaction is the best option to keep away from tax man. Workforce from othes country are well come. The cost of doing business in UK will decrease.
Doing business in Malaysia & UK/Sarimah Othman/okt 2009
The Future Economic Development
Malaysia must introduce massive reforms achieve goal of becoming a developed nation by 2020. Specialise the economy further, improve the skills of its workforce, make growth more inclusive and strengthen public finances. If the government do not take further action by now, the investor will find another country to put their money, difficulties to...