618-Post And Responses 2
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618forresponses.docx4 hours ago
Bukky Abdul
Week 6 Discussion
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I will like to expand on Chaebols in South Korea. I particularly love the country and the people, and I will love to visit someday. In Korea, there are a lot of large corporations that are called Chaebols. These chaebols are pretty popular and there is always a battle of ownership which is mostly within a family. This is because the chaebols are mostly conglomerates and they are involved in different kinds of businesses. Also, chaebols are more of family businesses, meaning the CEO and some of the directors are always from a family. The chaebols, because of the kind of large corporations they are, they contribute greatly to the research and development in South Korea. Chaebols are also government-supported, in fact, a lot of them have grown not because of profit but because of how vast they can source for funds. Examples of chaebols are Samsung, SK group, and many more. One of the issues with chaebols is they most times form a monopoly in a particular business field and they sometimes choke the existence of small and medium businesses. Chaebols have gone beyond companies to become a “status” in Korea, in that being a Chaebol means you are part of the top class people in the country.
https://www.investopedia.com/terms/c/chaebol-structure.asp
https://www.sjsu.edu/faculty/watkins/chaebol.htm
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Anishka Gupta
Week 7
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I enjoyed the TED Talk given by consultant Fang Ruan about the “Management lessons from Chinese business and Philosophy”. I loved the way Fang Ruan differentiates Confucianism and Taoist. I can relate this to my work experience in Nepal and India. In most of the Asian countries, organizations have a strong hierarchical system, and subordinates have to follow the instructions of their boss. This seems very similar to Confucianism's emphasis on authority and regulations. In some situations, employees can not even question or put forward their opinion. So maybe because of that, a concept my country is struggling in developing. I think businesses should follow the Taoist philosophy. This dynamic leadership style gives freedom to the employees irrespective of their level of leadership position. Employees can keep their innovative ideas on the table in front of higher authority instead of just following the rules.
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