1. Consider the following statement: “Economic development and capitalism require a certain style of doing business in the twenty-first century. The sooner Asian cultures adapt the better. “Do you agree or disagree? Explain. The statement is unmistakably biased in favour of Western management practices. However, it is true that many companies around the world are learning Western business principles. Companies are still striving for greater efficiency and demonstrating a greater willingness to experiment with new management techniques. As a result, we agree with the statement that Asian cultures adapt better to the style of doing business that takes advantage of economic development and capitalism. To begin, in order to ensure long-term profitability and avoid losses, capitalism's practices are useful for measuring demand and supply. The usefulness of capitalism in doing business is derived from its management techniques, which Asian firms will use to their advantage in order to maintain competitive advantages. During the Asian economic crisis, for example, governments passed laws requiring greater transparency among companies and banks, and many U.S. and other Western companies were buying up bankrupt Asian companies and drastically changing their operations. As a result, despite the rapid pace of change, Asian businesses will always retain practices that distinguish them. Next, by adapting economic development and capitalism style, it places a greater emphasis on individualism. When Asian companies adopt this culture, they tend to have very strong economic strength. This is most likely due to the circular effect in which societies that foster individualism benefit financially from the high performance and productivity of their individuals, who in turn are motivated and incentivized to perform through the high compensations that the system can afford and is willing to pay. Furthermore, a lack of individualism will result in collectivism. This is what happens to Asian companies that are unable to strive and maintain their strength during an economic downturn. Workers in this culture are more likely to be loyal to their employer. As the consequences, the worker cannot develop their career development and it will give effect to the economic as the whole. Thus, the statement is agreeable because the benefits of adapting to Western practice are enormous, but there are also many companies that are attempting to learn how to adapt to Asian culture in order to have a better chance of doing business and being successful. There’s no rule that says a certain company needs to adapt to any Asian or Western culture they can make changes but they need to stay true to what they believe in and stay true to them.