Business and Management in Asia: Disruption and Change

Disruptive business proposals have revolutionized the traditional ways of approaching the business world. Novel business models have emerged with diversified methods of value creation that have varied drivers of disruption ranging from innovative technology to demographic shifts. Internet and social media have facilitated disruptive innovations, allowing the development of creative business models that cater to emerging customer expectations effectively and efficiently. The present chapter is formulated with the objective of comprehensively analysing how social media has innovatively disrupted the existing business models by citing relevant research studies and real-world applications. To specify the positive effects of disruptive technologies, constructive catalytic innovations in the educational sector have been highlighted. Further, the existing executives’ preferred managerial skills and key strategies are identified that assist them in managing the aftereffects of business disruption. These contemporary business trends have immense practical implications, encouraging business leaders to adapt creatively to the prevalent paradigm shift.

Change is an inevitable but difficult aspect of a growing business. Change management models are concepts, theories, methodologies, and strategies that provide an in-depth approach to organizational change. Change management strategies in Asia must take into account the unique cultural, economic, and political factors that exist in the region. Asia is a diverse region with many different cultures, languages, and traditions. It is important to understand these cultural differences in order to develop effective change management strategies. Understanding the basic principles of Asian change management models and frameworks enables organizations to draw on best practices, tactics, and strategies that they can rely on when facilitating change projects. Relying on the foundations of these change models allows organizations to develop more effective, strategic, and contextual change initiatives. There are a variety of established models available today. The challenge is to find the most appropriate change model for the organization. In this study, Lewin’s change management model, the McKinsey 7-S model, ADKAR change management model, the Kubler-Ross change curve, Kotter’s 8-step theory, and Deming Cycle (PDCA) change models are designed to serve as compasses to ensure adoption of new processes and maximize return on investment for business process changes.

Asia is primed for digital disruption to achieve inclusive growth and shared prosperity. This chapter argues disruption is imperative, going beyond change to transform systems. Asia’s dichotomy of advanced and developing digital economies presents opportunities for disruptive solutions to bridge divides. The cultural diversity necessitates localized innovations catering to distinct user needs. Rapid technological advances also require embracing disruption to tap into emerging technologies. Digital disruption can unlock immense potential by triggering innovation, efficiency, and new business models. Case studies like Grab and Paytm demonstrate this impact. Pioneering entrepreneurs must lead disruption with tech and business models meeting evolving consumer needs. Digital literacy and skills initiatives are vital to empower citizens. Governments play a crucial role through policies and leadership to optimize disruption while ensuring inclusivity. AI and automation will be profoundly disruptive but their impact can be managed strategically. Disruption is key for Asia to fulfill its vast potential.

Sustainable technologies encompass innovative solutions that consider the utilization of natural resources and foster economic and social advancement. These technologies aim to substantially reduce environmental and ecological risks while creating sustainable products. The primary aim of this chapter is to acquaint readers with cutting-edge technological advancements applied across different sectors and industries to effectively attain sustainability objectives. Sustainability has become a mainstream issue, and there is mounting pressure from regulators and policymakers to adopt more sustainability-related practices in all business processes. Technological innovations and advancements can significantly help businesses achieve this goal. This chapter presents examples of real-life organizations that depict how technology has integrated into their business strategy and processes & enabled them to achieve the objective of sustainability as well as other economic goals. The chapter highlights the application of technology by citing cases of frontier technologies were being adopted by companies businesses in various sectors such as agriculture, packaging services, manufacturing, construction, and logistics, achieve operational efficiencies and contributed positively to sustainability goals. It illustrates how businesses can derive tangible benefits from the adoption of newer technology which involves artificial intelligence and machine learning. The chapter serves as a source of inspiration for businesses of all sizes to implement these technologies in their operations. The goal is to achieve the Sustainable Development Goals (SDGs) and promote sustainability at the company, business, national, and global levels.

International joint ventures include two or more parties with different cultures and this joint venture practice has been employed in many international shipbuilding enterprises. Cultural differences may bolster the management and leadership to creative solutions to share knowledge and engage employees to drive attitude and behavior changes at organizational and individual levels. Change management is a pressing challenge in the intercontinental shipbuilding industry. Shipbuilding production has shifted significantly to Asian countries over the last four decades. This chapter illustrates how Dutch and Vietnamese managers have changed in three cultural dimensions of power distance, individualism and collectivism, and uncertainty avoidance in a shipbuilding joint venture in Vietnam. A culture change framework is developed to illustrate these changes over nine years of operation. This chapter recommends open communication in the organizational culture to foster employee engagement toward joint venture sustainability, technology usage to provide continuous trainings at home and host cultures for the competitive advantages, and the development of penalty-free policies as well as a low-risk-taking organizational culture with accountable autonomy for other joint ventures.

The implications of digital disruption on Asia’s developing economies are examined in depth in this chapter. These economies are being put to the test by the significant changes brought on by the Fourth Industrial Revolution (4IR). The chapter opens by discussing the historical background of these markets and the considerable influence of digital disruptions. The significance of digital technology in these developing economies is demonstrated by a comprehensive analysis of the relevant literature and by examples drawn from actual events. The next section breaks down what 4IR means for Asian developing economies, analyzing the positive and negative effects of technologies like automation, AI, the IoT, and blockchain. Potential resilience techniques and approaches are presented after the chapter acknowledges the obstacles to digital transformation, such as inadequate infrastructure, digital literacy gaps, and regulatory constraints. In order to better weather shocks, governments and businesses can utilize these strategies by investing in digital infrastructure and literacy and promoting policies that are conducive to digital change. The chapter concludes with case studies of effective digital transformation and resilience, each of which provides lessons learned and recommendations for future efforts. This chapter offers an in-depth exploration of digital disruption in developing Asian economies by seamlessly weaving theoretical frameworks with empirical evidence.

The gig economy, a multibillion-dollar business, disrupts traditional industries like hotels and taxis by offering flexible income and efficient access to services. It has grown significantly with the rise of digital platforms like AirBnB, Freelancer.com, and Grab. The gig economy promotes financial and social inclusion, but challenges like labor rights, job security, and regulatory control persist. Independent gig workers enjoy a high work–life balance, flexibility, autonomy, and creative freedom, while contingent workers become a new precariat. Digital platforms like AirBnB; Fiverr; and Grab disrupt economic activity by resetting entry barriers, changing value creation, and playing regulatory arbitrage. They empower trust in service quality, democratize grassroots entrepreneurship, and create employment opportunities. Still, the gig economy faces frictions and there is significant consolidation in the industry. The business models might need to be refined when funding gets tighter and regulations prevent unfair competition and exploitation of workers. Additional governance structures, fair labor, regulation, and assistance for marginalized populations are needed to address these issues. Policymakers must create regulations and governance frameworks to ensure fair compensation, worker protection, and social inclusion.

The Industrial Revolution and globalization have brought about major changes in all industries, which have a direct impact on corporate success. Tele-migration is an emerging strategy that allows individuals to work remotely from foreign countries to gain several advantages while also favorably impacting the corporate environment. This study offers a unique exploration of the tele-migration phenomenon by utilizing diffusion of innovation theory as a theoretical framework. This research looks at the internal and external factors that drive individuals in the developing Asian market to use tele-migration. The internal factors that encourage the adoption of tele-migration include mainly freedom and flexibility, cultural immersion, financial incentives, and skills development, while the external factors comprise limited job prospects, government favorable policies, technological advancements, and skill-based compensation. Moreover, tele-migration is changing the performance of individuals in terms of their routine, work performance, and quality, resulting in increased productivity and improved skills. This study has practical implications such as adopting tailored tactics like tele-migration to address the industrial revolution and globalization opportunities and changes, moreover, individuals and start-ups can overcome geographical constraints and tap into the potential of expanding Asian markets by exploiting the benefits of tele-migration.

Businesses around Asia are pushing workers to return to conventional workplaces and offices. Several workers have indicated a desire to continue working from home or in a hybrid setting. Employers and governments are responding by providing incentives to encourage people to return to work. As workplaces continue to transform, new possibilities and hazards for all stakeholders are emerging. The purpose of this research is to examine the trend experienced in a number of Asian countries related to working mode policies, during which more companies practiced remote work during the pandemic, now that a number of Asian countries have opened access to mobility for their citizens and foreigners, a number of companies have also returned the policy from remote work to back to work. However, this does not imply that all companies are solely implementing back-to-work; there are several companies that are still surviving with the same working model as before the pandemic; thus, the purpose of this article is to highlight the characteristics of companies that implement remote work and back to work.

The push for digitalization and the impact of the pandemic have transformed how organizations design their workspaces. In the past, Asian organizations heavily invested in physical workspaces and required employees to be present at the workplace. Flexible work arrangements were merely discussed superficially before the pandemic. However, the pandemic forced companies to adopt remote working and integrate digital tools into their continuity plans. Having experienced remote or flexible working, employees now find it challenging to revert to conventional in-person work setups. Consequently, organizations are reevaluating the need for extensive workspace, leading many to consider redesigning their offices as co-working spaces (also referred to as activity-based offices). This book chapter offers recommendations for contemporary organizations in designing co-working offices that fulfill users’ needs. Drawing upon empirical research and case studies from corporate and higher education sectors, we integrate three key factors—people, place, and process—underlying the transition and implementation of co-working spaces. By identifying challenges and opportunities arising from this disruption, we provide guidance for organizations and employees to navigate this rapidly changing landscape. Ultimately, this chapter seeks to enhance understanding of workplace disruption caused by co-working spaces and provide practical assistance for organizations and employees striving to thrive in this evolving environment.

This chapter aims to establish a link between innovative capabilities and organizational performance of SMEs under the condition of organizational resilience, in relatively high-risk contexts such as emerging economies of Asia. By establishing links between the two distinct innovation capabilities—explorative and exploitative and organizational performance, the current book chapter contributes to the innovation literature by establishing the vital role of these capabilities for SMEs operating in a high-risk context to survive and improve their performance. Finally, our book chapter conceptualizes organizational resilience as a contingency factor for the utilization of explorative and exploitative innovation capabilities to enhance SMEs’ organizational performance, in relatively high-risk contexts.