Singapore: Past Perfect, Future Tense?
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Case Details:
Case Code : BENV008
Case Length : 27 Pages
Period : 1959-2006
Pub Date : 2006
Teaching Note : Available
Organization : -
Industry : Diversified
Countries : Singapore
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Please note:
This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Excerpts Contd...
Singapore: A Knowledge Economy
In spite of the government's efforts, Singapore's economy continued to be vulnerable to external developments. The country had to cope with several adversities in the late 1990s. In June 1997, Singapore was badly affected by the Asian Economic crisis (1997-98)...
Initiatives for Future Growth
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In the attempt to make Singapore a center for advanced biomedical discoveries
and innovations, the GoS invested billions of Singapore dollars in funding
research in biotech, health care, and medical technology. It encouraged leading
international companies to establish R&D operations in Singapore and also made
efforts to attract high-caliber research talent.
The GoS also aggressively marketed Singapore as "The Biopolis of Asia". In
mid-2003, the GoS undertook a Biomedical Sciences (BMS) initiative . It opened a
500-acre science park in 2004 to attract biomedical institutes and companies and
to encourage them to make Singapore their R&D hub in Asia...
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Challenges
Amidst its revamping efforts, Singapore again faced a crisis in 2003 with
the outbreak of SARS . The crisis affected several industries in Singapore,
with the tourism sector being particularly badly affected. Several business
conventions were cancelled during the period...
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Outlook
Singapore was a country that was unique in many ways. Notwithstanding
its many weaknesses, the country had managed to succeed in its pursuit
of economic prosperity. While the government played a very significant
role in this success, Singapore's strategic location and the relative
backwardness of its neighboring countries also helped it in reaching its
current levels of prosperity (See Exhibit XIV for the ranking of
Singapore under various parameters). In the future, Singapore hoped to
be at the vanguard of knowledge-intensive industries like biotechnology
and nanotechnology. |
Exhibits
Exhibit I: Key Information on Singapore as of 2005
Exhibit II: Top 10 Economies according to ease of doing Business (2006)
Exhibit III: Singapore: Corruption Perception Index between 1995 and 2005
Exhibit IV: Singapore: Annual GDP Growth (1961-1996)
Exhibit V: Singapore: Real Economic Growth (%)
Exhibit VI: Singapore: GDP by Industry (2005)
Exhibit VII: Tax Incentives in Singapore as of 2006
Exhibit VIII: Singapore: Foreign Trade (in S$ Billion)
Exhibit IX: Singapore: Top 10 Trading Partners (2005)
Exhibit X: Singapore: Tourist Arrivals (1995-2005)
Exhibit XI: Foreign Investments in Singapore (1999-2003)
Exhibit XII: The World's Most Expensive Big Cities (2006)
Exhibit XIII: Cities Offering the Best Quality of Life (2006)
Exhibit XIV: Singapore's Ranking on Different Parameters
Exhibit XV: Singapore Government's Expenditure under Various Heads (2005)
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