AN ANALYSIS OF CRITICAL MANAGERIAL CHALLENGES IN MACAU

Abstract

MACAU HAS LONG BEEN CONSIDERED TO BE AN EXAMPLE OF REMARKABLE ECONOMIC GROWTH. WITH THE OPENING OF THE GAMING SECTOR IN 2002, THE CASINO AND HOSPITALITY SECTOR FLOURISHED, CREATING EMPLOYMENT OPPORTUNITIES BUT ALSO IMPOSING SEVERAL CHALLENGES ON MANAGERS. SINCE MACAU ENDEAVORS TO BE POSITIONED AS THE CENTER FOR INTERNATIONAL BUSINESS WITH PORTUGUESE-SPEAKING COUNTRIES AND A PLATFORM FOR TRADING WITH CHINA’S GREATER BAY AREA (GBA), IT BECOMES ESSENTIAL FOR INTERNATIONAL ENTERPRISES TO UNDERSTAND THE LOCAL DYNAMICS. IN LIGHT OF THE LIMITED RESEARCH AVAILABLE, THIS STUDY AIMS TO IDENTIFY MANAGEMENT CHALLENGES FROM THE PERSPECTIVES OF SENIOR EXECUTIVES IN DIFFERENT INDUSTRIES BASED IN MACAU. OUR FINDINGS POINT OUT THAT MANAGERS MUST CONTEND WITH SEVERAL ISSUES, SUCH AS THE LACK OF A SKILLED LOCAL TALENT POOL, HIGH TURNOVER RATES, EMPLOYEES' WORK ATTITUDES, AND A TIGHTLY CONTROLLED IMMIGRATION POLICY. IT IS ALSO IMPERATIVE FOR INTERNATIONAL MANAGERS TO NURTURE RELATIONSHIPS AND PAY ATTENTION TO THE LOCAL CULTURE. OUR RESULTS SUGGEST THAT MACAU HAS TO DEVELOP A HIGHLY SKILLED LOCAL WORKFORCE TO ATTRACT INTERNATIONAL COMPANIES, WHILE LOCAL ORGANIZATIONS ALSO HAVE TO CREATE AN ATTRACTIVE WORKING ENVIRONMENT TO COMPETE IN THE MARKETPLACE.