Politically, Singapore is a stable country. Thus, this guarantees MacDonald's a successful working environment. The government facilitates daily business operation of the organization and creates foundation for a successful company. With regard to the tax policy, the government of Singapore ensures that the organization is taxed according to the laws. Research shows that Singapore has put in place tax policies that are meant to obtain the relevant revenue from the foreign businesses within the country. Basically, MacDonald's is a foreign company that is operating in Singapore and facing stiff competition from local companies. Due to the provision of special services, the organization has created a special service that outruns those of the local organizations.
According to the laws, foreign companies operating in Singapore are exposed to high taxation policies. This affects the manner in which the business operates. Also, with regard to tax policies, most of the revenue generating by the company are channeled back to the company. This policy has affected the growth of the company in a negative way. Many organizations that compete with MacDonald's in Singapore have realized that they need to improve their services to meet the required standards.
Get your grade
or your money back
using our Essay Writing Service!
Similarly, taxation policies that are applied to such companies indicate the extent of political success. As an indication, the nature of success of the company is determined by the tax policies that are applied in business operation. Despite strict tax rules, the business has managed to open several branches in the country and operate successfully.
With regard to environmental law, Singapore is making sure that MacDonald's complies with the relevant environmental policies. In most cases, the environmental law in Singapore focuses on pollution, and the company is expected to minimize pollution as much as possible.
On the other hand, labor laws play a crucial role in facilitating employment. The law requires that any foreign company operating in the country gives a specific number of slots to the local citizens. The law is assisting the locals get a certain number of positions in the company. Without the labor law, any foreign company is likely to import labor and as a result affect the economy of a host country in a negative way (Ahmad, 2011).
On the issue of trade restrictions, Singapore is responsible in monitoring daily operations of the company. The government has power to monitor the manner in which the company is run and managed. This means that some trade activities may not be allowed by the government to be undertaken by the company. Also, the company is allowed to seek advice from the government before undertaking any business activity.
Regarding the tariffs, the government has the power to impose tariffs on imports related to the business. For example, MacDonald's can decide to import raw materials to be used in Singapore; hence the duty of the country's custom department to impose tariffs on imported raw materials (Ahmad, 2011).
Singapore is growing rapidly in economy. This is the main reason why MacDonald's decided to invest in it. This has a huge impact on the daily operations of the business. For example, most of the citizens are living an average lifestyle and are in a position to afford the services offered by the company. As a result, the business is likely to reap huge profits due to the large number of customers who can afford to purchase or access the services offered by the company (Ahmad, 2011).
Also, interest rates have a major impact on the economy of a country. Low interest rates are used by the company to expand its operation within the country. Singapore attracts a substantial number of foreign companies due to low interest rates. This is attributed to a fairly functioning economy and good financial policies that have been already established (Brembeck, 2005).
Similarly, exchange rates act as the main source of attraction to foreign investments. MacDonald's have taken advantage of the country's strong currency to operate its business activities. Since the economic growth is directly proportional to the strength of the currency, it implies that the organization considered the economy before investing.
Inflation rate in Singapore is very low. Also, the rate of inflation is determined by the economy of the country. On the contrary, countries with rate of inflation have been less targeted by foreign investors. This therefore explains why Singapore was targeted by MacDonald's as the potential investing ground (Ahmad, 2011).
Always on Time
Marked to Standard
Regarding the social factors, Singapore is a culturally diverse society and recognizes all forms of culture. This is the reason why MacDonald's decided to invest considering the multifaceted culture society. In essence, the diverse culture does not limit the service provision and allows people to choose freely where to invest. Also, the country's population is a factor that plays a major role in determining the success of the company. For instance, the higher the population, the higher the chances of success in an investment. On the contrary, low population may not attract a good investment. In average, Singapore's population can allow any form of investment to thrive in a very short period of time (Ahmad, 2011).
Without technology today, everything is virtually impossible. Such factors may include automation, rate of technological change, and technology incentives. In Singapore, the rate of technological change is very high and is characterized by good telecommunication technology. Without such infrastructure, business operation in the country would be challenging. Every business is required to have good communication frameworks that can be used to facilitate daily business operations (Ahmad, 2011).
Also, technology can determine obstacles to entry; low efficient production stages, and influences the outsourcing choices. In addition, changes in technology can influence service quality, cost and result in innovation. Over the years, technology has become a major tool of change and has contributed immensely to the success of every business. MacDonald's has realized that without technology, all the business operations are likely not to succeed. For instance, communication requires standard technology process so that it could facilitate daily operations of the business. It is the duty of the management to put in place relevant mechanisms to make sure that there is good technology in place (Ahmad, 2011).
Change is a constant factor in work place. Different individuals respond to change in various ways. Whereas some accept it, others may resist. In some cases, change seems capricious. Some organizations prefer putting too much information into major changes and even into the ones that seems minor. Any information about change in a company abounds, hence some organizations work very hard to make sure that changes are implemented in the most appreciated way for all those individuals who are involved. However, even the most planned changes can be the root cause of stress, resistance, and unrest among workers. The authority in an organization is supposed to understand the various responses to change and deal with the ones that are becoming barriers to the change process (HARVARD BUSINESS SCHOOL, 2005).
When change occurs, people react in a various ways. There are those people who adapt to change and embrace it faster by making quick decisions. They challenge the status quo and start change process in a company. Also, there are those who are not affected by change in anyway. Optimistic people within a company are normally enthusiastic and innovative create solutions to handle change that assist in keeping others motivated during flux cases. Similarly, there are people who resist change and normally require some time to prepare. They are normally individuals whose decision making processes are steady and do not want interruptions when the process of change is taking place (HARVARD BUSINESS SCHOOL, 2005).
Also, research shows that there are individuals who are considerate about the outcome of change. They are usually careful, cautious, and purposeful thinkers who are looking for a way of maintaining high standards of discipline regardless of changes that are happening around them.
An ideal company is the one that employs only individuals who succeed on change and are not affected in any way by it. Such workers are considered ideal and efficient in an organization. Change proceeds well in such organizations and such individuals are affected negatively by fewer negative effects from the change process.
Those who avoid change and require a lot of time to prepare and the ones who become mainly concerned with the factor of change to an extent where they derail or stall the process are likely yto harm themselves together with their institutions (HARVARD BUSINESS SCHOOL, 2005).
Experts point out that change is the main source of stress. It challenges people to let go of the comfortable past and accept totally new ways of doing things. Usually, the new concepts are opportunities for growth and development. There is a belief that one can afford to change by the environment. However, change is managed effectively from within.
This Essay is
a Student's Work
This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.Examples of our work
In moments of stress, the body and the mind go back to the old ways to instinctive habits. If a person naturally resists change, it can be very challenging to alter how people respond when faced with some small changes. But, there are strategies a person can undertake to lower the resistance rate as well as enhance the way of handling change. Also, there are ways in which individuals can avoid change induced stress.
If a person has identified him as being among the ones who resist change in automatic manner and him or she has lots of company, it is advisable that he trains himself to be more considerate of personal reactions. It is important to understand if a person is resisting change simply because there is a good reason or just doing so because it is his nature (HARVARD BUSINESS SCHOOL, 2005).
Some individuals who resist change are very negative. Also, they are very close minded that they cannot refuse to see changes in an objective way. In cases where positive change is not comfortable, discomfort leads to resistance. Some changes can cause a strong emotional reaction that covers objectivity. For example, it is normal to have a feeling of sadness when a loved co-worker or boss leaves a company. Thus, it can be very challenging in the midst of such a sad situation to see the chance for positive change, despite being there. Although it is healthy to grieve the loss, Hanging on to any ill feeling and avoiding recognizing the change is not good.
With regard to overcoming resistance, those who avoid change do so for a varying period. It is important to understand individual actions and take a mental flashback by asking yourself whether the reaction is instinctive. If you find out that you are resisting change in an automatic way, it advisable to drop the habit and evaluate the change itself. Finding positive, which in most cases is a difficult part of change process is very crucial in overcoming resistance to change. Accepting change minimizes personal levels of stress (HARVARD BUSINESS SCHOOL, 2005).
To accept change does not mean that one must suffer changes that have negative impact on job satisfaction. People simply have to accept the fact that change is always underway. Evaluating the work environment is also very important because it prepares an individual to accept change. Coping with change also includes the following:
Building up support relationships at home and work. Individuals with friends whom they can depend on at stressful moments have fewer negative consequences of the stress as a result of change. Also, they remain healthier, are always successful, and live longer.
Taking care of personal character. It involves eating a balanced diet, exercising, and getting adequate rest. It is also important to take enough time relaxing with friends and family members. Enjoy personal hobbies. Listen to inner-self.
Build self-confidence. Nobody can substitute another. This means that one has special interests and talents as well. Thus, it is crucial to list what interests you and record personal special talents. Additionally, it is important to list what you understand about friends and family. Informing them about change leads to appreciation (HARVARD BUSINESS SCHOOL, 2005).
Be sincere and flexible. Knowing that change can occur at any time assist an individual to accept and regulate when it happens. Many people are keen to settle into contented routines. It is very important to understand that your current routine may only be temporary.
Emphasize your strengths. It is always advisable to Accent the good and eliminate the bad. Normally, positive feelings helps in making a person feel good about himself. Also, it goes a long way in enhancing personal health, and makes an individual deal with changes in an effective way (HARVARD BUSINESS SCHOOL, 2005).
Have self control. It is very important to create a list of options. This shows what are positive and the ones that are negative. Practice looking for good things in each of the changes.