Social studies
Saturday, September 11, 2010, 7:24 PM
Diversifying the economy.Alicia, please take note for managing resources, humans i left out the foreign talent thingy. and for managing resources, environment, i left out the cooperation with international corporations. However, i got read up a bit la~ So maybe you just read up on it? If you need any help ring me up :) Anyway jiayou girl ^^ You can do it!
-means that Singapore does not just focus on a single aspect and invests in different aspects to ensure survival
-Singapore aims to be a centre for technology-intensive, high value-added manufacturing activities such as chemical engineering and pharmaceuticals
-Singapore have also ventured into areas like Life sciences
-involves the studies of genetics and development of new medical treatments
-Organizations such as Agency for Science, Technology and Research (A*STAR) was set up to build, Singapore’s research and development (R&D) capability
-Also, Singapore continues to attract TNCs to set up their high-value added manufacturing activities here
-One example is Seagate, the world's largest manufacturer of hard disk drives
-These investment helps to generate jobs and affirms Singapore's position as a manufacturing hub
-Singapore also aims to be the regional hub for services such as education and tourism
-With the establishment of education institutions’ like the ShangHai Jiao Tong University, Singapore was able to attract a strong university sector that attracts talent
-To promote further growth, tourism was promoted
-Two Integrated Resorts (IRs) was built in Marina Bay and Sentosa.
-Also, since countries in Asia like Hong Kong opened Disneyland in 2005, Singapore needs to be innovative in offering man-made tourists attractions so as not to lose out to other countries
(Y) Allowed Singapore to remain competitive in a globalizing world
(Y) Even when one investment fails, Singapore have other investments to depend on
(Y)Furthermore, the IRs will be able to strengthen Singapore's position as a choice tourist destination in SEA, allows Singapore to stay competitive, being able to compete with other countries.
Nurturing its small Medium Enterprises (SMEs)
-means that government helps nurture local businesses to grow, so they can play a role in economic development
-For example, the government ensures that banks have various local schemes to help out SMEs,
-giving them the necessary capital to expand their business
-Government also help to set up the Association of SMEs (ASMEs) in 1986,
-helping to provide training for SMEs through regular seminars & workshops.
-Government also grant exemption to new companies on their first $100K of their income earned for three years.
-All these was done to help SMEs develop (WAAAAA~ win liao lor~)
(Y) Help SMEs = good = provide jobs
(Y) They also support operations of TNCs by supplying them with components in the manufacturing process.
(Y) hence enhance the attractiveness of Singapore as a regional manufacturing and service hub
Venturing abroad
-this means that Singapore invests in nearby countries and provide them with capital $$ and expertise (woah~)
-so that they can develop their industries
-Eg. Suzhou industrial park was established after much discussion between Chinese and Singapore government in 1994.
-Set up= Singapore business can venture abroad, start their firms in these industrial parks
-while the country provided Singapore with land labour and markets
(Y) Helps Singapore to sustain economic development
(Y) enables Singapore's economy to expand beyond Singapore, good for economy.
(Y)When Singapore invests and help countries to develop, promotes industrial development = social and economic stability = ATTRACT TNCS!
Expanding market reach through economic cooperation
- This means that Singapore goes beyond its small domestic market and establishes trading ties with countries around the world
-For eg. Singapore sign free trade agreements (FTAs) with ASEAN countries like United States, Japan and Australia
- When both countries signed a contract to agree to trade with each other, they usually enjoy privileges
-more increase in choices; enjoy costs saving (no tax) and easier businesses transactions across countries
(Y) Gives local companies a chance to develop and grow (sell goods to a bigger market abroad)
(Y) Also attracts more TNCs from FTA partners to invest in Singapore, as it is easier for them to do business in Singapore
(Y) Economy prosper, economic stability :D
Managing resources efficiently (People)
-to develop its people, Singapore government has decided to promote local entrepreneurship
-in a globalizing world, business competition will increase, need more local entrepreneurs.
-One of the ways is to amend bankruptcy laws to allow entrepreneurs who have failed to start to business again
-they also give recognition to outstanding local entrepreneurs to inspire more entrepreneurs to achieve success! ^^
-One example is Mr. Kenny Yap who is the chairman of a local ornamental fish service provider
-His company started in 1989, and met with problems like a heavy storm washing away his entire stocks of guppies, but he never give up :D
-Now, he had won many entrepreneurs award
-Singapore also promote continuous learning among its people
-Singapore workforce Development Agency(WDA) was established in 2003 to ensure workforce is competitive.
-WDA create chances for employees to enhance their employability through skills upgrading
-eg. ESS (employability skills system) a program was offered to equip workers with better skills and to adapt to new job demands and new environment
(Y) In a globalizing world, business competition will get tougher
(Y) With upgrading and the necessary courses, it will ensures that Singapore have enough entrepreneurs and workers that are skillful enough to come up with new products and services
(Y) With these, they then can compete with other countries, staying competitive
-this means that Singapore invests in nearby countries and provide them with capital $$ and expertise (woah~)
-so that they can develop their industries
-Eg. Suzhou industrial park was established after much discussion between Chinese and Singapore government in 1994.
-Set up= Singapore business can venture abroad, start their firms in these industrial parks
-while the country provided Singapore with land labour and markets
(Y) Helps Singapore to sustain economic development
(Y) enables Singapore's economy to expand beyond Singapore, good for economy.
(Y)When Singapore invests and help countries to develop, promotes industrial development = social and economic stability = ATTRACT TNCS!
Expanding market reach through economic cooperation
- This means that Singapore goes beyond its small domestic market and establishes trading ties with countries around the world
-For eg. Singapore sign free trade agreements (FTAs) with ASEAN countries like United States, Japan and Australia
- When both countries signed a contract to agree to trade with each other, they usually enjoy privileges
-more increase in choices; enjoy costs saving (no tax) and easier businesses transactions across countries
(Y) Gives local companies a chance to develop and grow (sell goods to a bigger market abroad)
(Y) Also attracts more TNCs from FTA partners to invest in Singapore, as it is easier for them to do business in Singapore
(Y) Economy prosper, economic stability :D
Managing resources efficiently (People)
-to develop its people, Singapore government has decided to promote local entrepreneurship
-in a globalizing world, business competition will increase, need more local entrepreneurs.
-One of the ways is to amend bankruptcy laws to allow entrepreneurs who have failed to start to business again
-they also give recognition to outstanding local entrepreneurs to inspire more entrepreneurs to achieve success! ^^
-One example is Mr. Kenny Yap who is the chairman of a local ornamental fish service provider
-His company started in 1989, and met with problems like a heavy storm washing away his entire stocks of guppies, but he never give up :D
-Now, he had won many entrepreneurs award
-Singapore also promote continuous learning among its people
-Singapore workforce Development Agency(WDA) was established in 2003 to ensure workforce is competitive.
-WDA create chances for employees to enhance their employability through skills upgrading
-eg. ESS (employability skills system) a program was offered to equip workers with better skills and to adapt to new job demands and new environment
(Y) In a globalizing world, business competition will get tougher
(Y) With upgrading and the necessary courses, it will ensures that Singapore have enough entrepreneurs and workers that are skillful enough to come up with new products and services
(Y) With these, they then can compete with other countries, staying competitive
Managing resources efficiently (Environment)
-Singapore small, only about 680km2 of land, hence need proper planning
-challenge, not all land can be developed (eg. 40% used for water catchment)
-careful planning = high standard facilities for housing, transportation, recreation and so on can be built = high SOL, QOL
-One example is the downtown at marina bays
-it was built to be the financial hub, integrated with quality housing, recreational and leisure facilities (like a total live-work-play environment)
-Though land limited, still preserves nature sites, so that future generations can enjoy the natural environment in Singapore
-Land is also allocated for waste disposal, (eg. Palau Semakau, landfill was built because land area on the mainland was limited)
-also Singapore tried to conduct public education (the only way for Singapore's effort to protect environment to be effective)
-students in schools are encouraged to take part in recycling
-programmes to educate the public (eg. clean and green week, an annual campaign) educated people on environmental issues (workshops + exhibitions also played its part)
-To encourage shoppers, also reduce excessive use of plastic bags, organizations come up with the "Bring your own bag day" programme
(Y) Hence by using Singapore land effectively, and building infrastructures and facilities that aid its development in spite of the limited land it have, it allowed Singapore to be more developed,
(Y)and also , these infrastructures may helps to generate income, and support the economy of Singapore
(Y) Allowed Singapore to remain competitive, with these resources to use to develop themselves, when they are competing with the other countries
-Singapore small, only about 680km2 of land, hence need proper planning
-challenge, not all land can be developed (eg. 40% used for water catchment)
-careful planning = high standard facilities for housing, transportation, recreation and so on can be built = high SOL, QOL
-One example is the downtown at marina bays
-it was built to be the financial hub, integrated with quality housing, recreational and leisure facilities (like a total live-work-play environment)
-Though land limited, still preserves nature sites, so that future generations can enjoy the natural environment in Singapore
-Land is also allocated for waste disposal, (eg. Palau Semakau, landfill was built because land area on the mainland was limited)
-also Singapore tried to conduct public education (the only way for Singapore's effort to protect environment to be effective)
-students in schools are encouraged to take part in recycling
-programmes to educate the public (eg. clean and green week, an annual campaign) educated people on environmental issues (workshops + exhibitions also played its part)
-To encourage shoppers, also reduce excessive use of plastic bags, organizations come up with the "Bring your own bag day" programme
(Y) Hence by using Singapore land effectively, and building infrastructures and facilities that aid its development in spite of the limited land it have, it allowed Singapore to be more developed,
(Y)and also , these infrastructures may helps to generate income, and support the economy of Singapore
(Y) Allowed Singapore to remain competitive, with these resources to use to develop themselves, when they are competing with the other countries
