This report will therefore bring you through the changes that had taken place in Singapore’s labor market from the past to present. I will touch on a few crucial aspects leading to these changes, namely, globalization, technology advancement, and education. Last but not least, I will also comment on the strategies some employers had adopt on ensuring their continuing success.
Singapore is a small island country in Southeast Asia. It lies at the southern tip of the Malay
Peninsula near the meeting of the South China Sea and the Indian Ocean. Singapore consists of a
large island ...view middle of the document...
The new, independent Singapore was voted into the United Nations in 1965.
But, there are several aspects to enable Singapore compete globally at the moment. Singapore has population approximately 4.6 millions in 2007 (Singapore Department of Statistics, 2008) that refers to a small number of labor forces as well however those workforces are highly educated. We must continue to attract as many able and talented men and women form China, India, the region and from developed countries, to add to our team. Without this input of foreign talent, even the USA could not have been so successful …” (Rajan, 2003: 8, Lee, 2002). Today, Singapore is an attractive place for researchers and expertise from US, UK and the rest of the world (Singapore Government, 2009).
However, there are several aspects to enable Singapore compete globally at technology advancement, aging population, gender differences and education. Last but not least, I will also comment on the strategies some employers had adopt on ensuring their continuing success. Thus, it is very interesting to discover how Singapore contests in international competition despite its lacking of essential physical resources, area and labor supply in particularly, for manufacturing as well as agriculture.
The starting point of Singapore economy was from a base of abilities in export trade, petroleum refining and seaport service. Subsequently, it progressed into export industrial products based on tremendously FDI expanding. Singapore industrial activities were feeble for a decade due to a little entrepreneurial know-how and novel technology spilled over from China and a weak structure of domestic entrepreneurship. Eventually, the government performed tightly to improve the business structure and the specific skills needed was created by intervening vastly of Singapore government (Ashton et al., 1999) Strongly policy support and its industrial structure encouraged and carried on industrial growth rapidly. In addition, Wong (2003) indicated that Singapore government attempted to attract FDI and used it as a tool to accomplish its goals.
But in term of political along with law and regulation, Singapore has an effectiveness of government so far. As a result of high quality governments, good policy, law and regulation have been initiated making its economic escalation. Based on the book by Lall (2004), Singapore government is the only one nation in the region offering all supporting MNCs in the boom in offshore manufacture by multinational companies in the electronics industry during 1970 and 1980.
In Singapore's short life it has become one of the major part of the E-business trend. Developing technology, government support, and growing internet awareness make Singapore an ideal environment in which E-commerce can thrive. Lee Yock Suan sums up Singapore's E-commerce environment by saying ,"We want to be plugged into this global development, and position Singapore as an international...