1 INTRODUCTION
This paper will first describe how two nations sharing similar history went on their different paths in developing their economies. Then, this paper would describe three components that helps maneuver Singapore towards outstanding economic development based on 3 principles 1) leadership 2) strategy and 3) implementation. Thirdly, negative implications that may have been brought about by the development policies will be discussed in Section 4. Lastly, the conclusion would be underlined.
2 TEARY SEPARATION: SINGAPORE & MALAYSIA FATEFUL TWIST IN ECONOMIC DEVELOPMENT
Economic advantages have been the blessing for Singapore and Malaysia historically. At the time of separation, Malaysia’s abundant natural resources have ranked herself among the world’s leading producers of three valuable commodities, rubber, tin, and palm oil, and also a significant iron ore producer (Economic Planning Unit, 2014). These export industries gave Malaysia comparative advantage to invest in industrial development and infrastructure projects. Malaysia has embarked on the First and Second Malayan Plans (1956–1960 and 1961–1965 respectively) through state investment in industry and infrastructure; aimed to reduce Malaysia’s dependence on commodity exports and provide alternative sources of employment especially for rural Malay. Singapore on the other hand, faced issues of sovereignty, housing, education, lack of natural resources, land scarcity as well as pressing problem of unemployment which ranged between 10–12%. These deadly combination would be the potential trigger to civil unrest and bleak economic future of Singapore.
In light of these comparable circumstances of Malaysia and Singapore at the time of separation, one question that could b...
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I. Introduction Industrial relations always play an important role in economic development of every country in the world. Singapore’s labor industrial relations have become a solid foundation for the dramatic improvement of Singapore’s economy for the last 50 years. However, just because it was very successful in the past does not necessarily mean that it will continuously bring similar outcomes in the future. The rapid transformation of the world will provide new challenges and shape a different
evolving. Outside influences and the blending of culture is inevitable in the global setting. Another tool to track the environment of a country when looking to expand is by conducting a PESTLE analysis. PESTLE is a mnemonic which in its expanded form denotes P for Political, E
Yes, I agree that a huge part of Singapore’s economic success has been built on the government’s ability to ensure macroeconomic stability as well as build long-term growth. To ensure macroeconomic stability, fiscal policy, which is the usage of government expenditures and taxes, and monetary policy, which is the changing of interest rates and quantity of money in the economy, and supply-side policies, that look into the strengthening the production capabilities of companies, have to be implemented
form of unemployment which is a challenge to Singapore is structural unemployment. Moving alongside Singapore’s speedily developing economy is its shift from being a labour intensive economy to a capital intensive one. This is inescapably met with the challenge of the substitutions of skills in the labour force of Singapore. For example, the recent shift into the biomedical and Research and Development (R&D) industries subject workers who can only work in the lower end of manufacturing industries tend
making Singapore the hub for trading activity due to its strategic location along one of the busiest trade routes in the world. Figure 1: The Suez Route To this day, Singapore remains important to world trade owing to its strategic location. Singapore’s port is the largest transshipment port in the world by cargo volume, accounting for close to one-seventh of world transshipment volume ("About Us", 2016), where cargo is transferred from one ship to another while docking in Singapore. Although Singapore
Firstly ill be using PESTEL analysis and lastly POTERS FIVE FORCES analysis. 2.0 Pestel analysis A PESTEL investigation is a structure or device utilized by advertisers to examine and screen the large-scale natural (outside promoting environment) figures that affect an association. The consequence of which is
be directly affected by Singapore’s economic conditions and in the major countries where it operates as the airline business is not a one country business especially for SIA which has only international market to fly. However as a Singapore based company it is mainly affected by Singapore’s economic factors. Social factors include trends in demographics such as population size, age, and ethnic mix, as well as cultural trends such as attitude toward something. Singapore’s population is very diverse
(STB), tourism sector currently contributes 4% of Singapore’s GDP and provides approximately 160,000 jobs (nearly 4.5% of labor force is working in tourism sector ), Singapore’s International Visitor Arrivals (IVA) in 2013 reached 15.6 million, Tourism Receipts (TR) came in at S$23.5 billion and Hotel Room Revenue for 2013 was S$2.9 billion (Singapore Economic Development Board, 2014). Tourism industry plays a key part in supporting Singapore’s status as a dynamic global city that attracts business
3. Porter Five Forces Analysis Applying Porter five Forces framework helps Singtel determining the competitive intensity, analysing and evaluating business strategy problems. Understanding these analysis will therefore enable Singtel to re-evaluate the key factors necessary in coping with the company’s success. 3.1 Threat of New Entrance (Low) Given the country’s small geographical landscape and population size, Singapore’s mobile market and global market developments are not able to sustain
Introduction to MICE products A Convention and Tourist Bureau, also known as a Destination Marketing Organization, is a non-profit body that mainly focuses on the development and marketing of a region or country as a prime tourist destination. They are mainly allied with the respective governments to increase the economic development of their destinations by promoting tourism both for leisure and business. The DMOs are the most crucial part of their destination’s tourist industries as they promote
The last was the welcoming of the education. In the early days of Singapore, the country was doing a lot of manufacturing and assembling goods. This particular industry grew stagnant around 1960’s at around 12% of the GDP. Also during this time the post-war baby boom and free immigration policies resulted in a population growth of around 4.4% annually and that got paired with an unemployment rate that grew to 9.2% around 1966. This made the government realize that rising unemployment rate was a problem
workforce. Singapore also purchases raw materials from other country and then refine the product into a better product to re-export. The reason for Singapore to do this is because of the lack of human and natural resources. ASEAN was formed to promote economic growth, understand each other cultures and to enhance and sustain own country’s living standards so as to allow their citizens to maximize their full potential. These countries will also arrange a meeting regularly so as to discuss on how to improve
prosperous countries with strong worldwide trading associations (its port is one of the world's busiest the extent that tonnage dealt with) and with for each capita GDP equal to that of the heading nations of Western Europe. (Kingston, 2007). 4. SWOT Analysis • The meaning of SWOT- • strengths: qualities of the business or extend that provide for it leeway over others. • weaknesses: qualities that place the business or venture off guard in respect to others. • opportunities: components that the venture
gallons annually (Cho, 2011). More than 450 cities in China suffer severe water shortages problems. The problem has been getting increasingly sever... ... middle of paper ... ...rences or changes are statistically significant. Multiple regression analysis will be conducted to test the cause-effect relationship between the program outcome variables and financial incentives of the program. 5) Summarize the findings and make a conclusion 6) Feedback to Program Improvement Lastly, after reviewing the
world’s combined gross domestic product (GDP) in 2011. In terms of employment, the travel and tourism industry is only second to education, employing around 98 million in 2011. This would only mean that tourism is a major contributor to global economic development, helps in creating jobs and also generates wealth. It is no wonder that countries around the world are building up tourism infrastructures to provide greater convenience to tourists and putting in more effort to attract tourists to their country