Advantages Of Competitive Advantage In Singapore

Analysis on competitive advantage to Singapore through LMR

Singapore has always enjoyed a competitive edge over other countries in terms of its manpower. In fact, in Singapore, the people are considered as the greatest natural resource and asset of the country. Hence, there is a dedicated ministry called the ministry of manpower that deals exclusively with safeguarding the interests as well as furthering the development of human resources.

And right from the 1970s, the ruling political parties and the corresponding governments together have recognized the need for a strong labour relations management approach to drive the industrial growth as well as maintain a friendly harmonious work environment. Hence, Singapore became one of the few countries

As there are many factors influencing the change in the model like technology, International forces which may affect the exports and hence the industry and due to which these may affect the employees. The model can be strengthened by including Professional, managers and executives rather than substantial managers. So that they settle the grievances in a better way. Hence continuous restructuring of the framework is considered to be the most attractive thing. Due to these initiatives taken, Singapore is known to be the least unemployment rate compared to other countries in the world. The government here takes personal interests in restructuring their process or productivity whatever is required for the growth of the industries. It is also expanding the issues like re- employment which were not considered before. Hence these programs and initiatives taken by the government and other members differentiates Singapore from other countries in gaining competitive advantage. (TODAY online,

So it becomes mandate for the country to follow the employment practices as laid by the government to have a sound relations between the trade unions and the employers. As we can see the tripartite framework has helped the Singapore to gain competitive advantage over other countries due to framing strict rules and regulations related to recruitment, behavior with the employees, appraisal and setting different council for settling different disputes. The most important aspect for the growth of any industries is to not have any disputes. Due to incorporation of tripartite Alliance for fair and progressive employment practices help organizations to accustom the fair employee practices and also conduct workshops which educate the different members of the organization. It also takes necessary steps so as to motivate the employees by educating them with new technologies and sustain their job with attractive earnings. It is also necessary to attain the industrial peace by negotiating and coming up with agreement of mutual understanding without going legally which risks the organization as well as the employees. Therefore it is necessary to create a good working environment like involving the employees in decision making regarding organization which keeps them motivated which in turn help in industry growth and hence the