Uploaded by Amit Awasthi


SINGAPORE CASE STUDY (Individual preparation for ALL students)
• How successful has Singapore been?
• What major decisions or choices did Singapore make from the time of independence to
the current situation?
• What role did Prime Minister Lee Kuan Yew play and how would you describe his
leadership philosophy, values and approach?
• Analyze Singapore’s strategy on climate change.
• What challenges do you believe Singapore faces over the next 5 – 10 years and what
changes should be made to ensure its continued success?
2000-2001 : Singapore economy was declining ( 2% growth vs projected 10 %), recession,
Economic review committee: ERC recomende:
1. Reduce dependence on US imports and electronics
Ecosystem strategy -1. ‘Ecosystem strategy’
a. Innovation and Diversify
2. Cluster : Move closer to origins of value chain – ‘scientific knowledge-based economy’’
a. Requires ‘reform in education system for the large population to reap the benefit
3. Tax reforms
a. Reduce corporate tax but in crease GST
Singapore INC ( past strategy rooted deeply into Singapore INC’s history)
Early leaders identified the following needs to form their earliest strategy:
o need of differentiation from the neighbors in order to become the
‘Oasis for first world county in the third word region’’
 Better organized and more efficient
o Be attractive to foreign investments
Governance: (We are 100% government, but in terms of operational discipline, we are run like the
private industry,)
Democratic but has ‘Job rotation’’ to keep fresh perspectives in senior
positions juts like in corporate world
Strict control – rule based – Michael Fay’s caning
Anti-corruption – via adequate pay and vigilance ( 5th/102 -2002)