Topic In discussion paper 1, your task is to review the case study below and write a report using the 3 Step Writing process to advise your fellow employees about the business culture of Singapore prior to an upcoming visit. The business culture of Singapore is described in the case study on page 89 of your textbook: “Kiasu” Visitors to Singapore quickly realize that Singaporeans tend to walk fast. In fact, one researcher claimed that Singaporeans are the world’s fastest walkers. One reason might be that life in Singapore is stressful and competitive. Singapore is known for its Kiasu (fear of losing) culture in which the main goal is of a person to do better than other people and to improve their standing in society. The effect of Kiasu mentality is so embedded in Singaporeans’ lives that it has become critical to their survival. People are competing in pursuit of the 5 Cs – cash, condominium, car, credit card and country club. The education of the next generation is also a main concern of parents. Parents desire that their children excel in their studies. In pursuit of winning entrance to the desired school, parents commit themselves to the school’s volunteer program. At a very young age, children attend tuition classes after school. In addition, to cognitive skills, children are asked to learn skills such as dancing, playing musical instruments, and self-defense techniques. The Kiasu trend among parents in has spilled over to its neighboring country, Malaysia, especially to those living in the city. The competitive Kiasu Culture is reflected in one of the highest grossing movies in Singapore, I Not Stupid. Though Singapore is not rich in natural resources to boost its economy, it has emerged as one of the Asia’s “four little dragons” – the most industrialized countries in East Asia. Singapore is known as a clean, safe, and efficient society. Its infrastructure facilities, urban planning, and transportation system are organized and well planned. Although Singapore is geographically the smallest country in Asia, it is voted as one of the highest quality-of-life places to live.” 2 Additional information: http://www.anzbusiness.com/countries/singapore.html#.VvITy-J95rQ  Intense competition and a small domestic market – Singapore has a relatively small domestic market compared to other Asian countries.  The cost of day-to-day operations can be high – Attracting and retaining skilled labour can be costly. Prime office space is limited and rental prices remain high.  Singapore is culturally diverse – The population comprises a melting pot of multicultural, ethnic and religious backgrounds. This presents a good opportunity for Australian businesses to market their products and services to a diverse consumer group, and research urban trends for the rest of Asia.  Strong intellectual property laws – Singapore is regarded as having the strongest intellectual property (IP) protections in the world – a major benefit to business.  Open and competitive as a free market – Singapore adopts an open border and transparent approach to both local and foreign businesses. In positioning itself as a regional business centre, it offers pro-business incentives, such as low corporate taxation and assistance on resources and facilities.  Singapore is a key regional hub – Many businesses use Singapore as their entry point to Asia and a large number of Australian businesses have a presence in Singapore, including ANZ, BHP Billiton, Rio Tinto, Lend Lease Asia, Leighton and Toll Holdings.  Build up your Singapore business network – There are a number of trade and business associations to help build your industry network in Singapore. These organisations include International Enterprise (IE) Singapore, SPRING Singapore, a