Hosting 60% of the world’s population, Asia collectively has the largest economy in the world. In the last few decades, Asian economies have been growing tremendously. Most global multinational companies are present and engaged actively in the region. Led by China, Asia also attracts the highest foreign-direct Investment in the world. In addition, recent development shows an increasing international trade and cross-borders investment through the increase of bilateral and multilateral free-trade agreements among the Asian countries (e.g. ACFTA).
Globalisation and increasing cross-border engagements has resulted in organisations having to manage culturally diverse groups, both within the organizations (owners, employees, investors) and outside of them (suppliers, competitors, and customers). As pointed out by cross-cultural studies in organizations, cultural differences are not disappearing nor diminishing in global organisation practices. On the contrary, they seem to be getting more complex, and are posing challenges for organisations to achieve their goals.