Business Culture in Singapore

Doing Business in Singapore

Singapore is often seen as a stepping stone into Asia. Singapore is a successful Asian city state which has seemingly managed to marry the best of western influences whilst maintaining a thoroughly Asian feel. Is it any wonder that so many global organisations choose Singapore as their pan-Asia base, seeing it as a perfect blend of geography, economic prosperity and political stability?

The city certainly punches above its weight in terms of economic success, educational achievement and the high standards of living which are almost universally enjoyed. Singapore’s economic miracle has been much documented over the years. The foundations laid during the formative years of Lee Kwan Yew’s tenure as Prime Minister have served well over the decades and managed to keep Singapore right at the top of the global success tables.

If you are looking to do business in Asia, it is difficult to ignore the appeal of Singapore – not just as a base to explore the rest of the region but also as an attractive market. Singapore is a consumer paradise with millions of affluent consumers eager to purchase the best that the world has to offer.

Doing business in Singapore could be very good for you but it is important to take on board local cultural norms and expectations about how business should be conducted. Don’t be fooled by the veneer of westernisation you are likely to encounter when you arrive – the thought processes driving business decisions are decidedly Asian. Don’t assume that the highly cosmopolitan business contacts you meet will automatically understand your approach because such assumptions might well jeopardise an otherwise lucrative relationship.

This country profile provides an overview of some of the key aspects of Singapore business culture in a concise, easy to follow-format. The document includes information on:

• Background to business
• Business Structures
• Management style
• Meetings
• Teamwork
• Communication
• Women in business
• Entertaining

Author

This country-specific business culture profile was written by Keith Warburton who is the founder of the cultural awareness training consultancy Global Business Culture. 

Global Business culture is a leading training provider in the fields of cross-cultural communication and global virtual team working.  We provide training to global corporations in live classroom-based formats, through webinars and also through our cultural awareness digital learning hub, Global Business Compass.

This World Business Culture profile is designed as an introduction to business culture in Singapore only and a more detailed understanding needs a more in-depth exploration which we can provide through our training and consultancy services.