Singapore IT Industry on the Rise: $19B Invested for Global Leadership - Essay Sample

Introduction

The Information technology industry in Singapore has been growing at a high rate, and this is mainly due to the advancement in technological growth. Despite this growth, other countries in the world have been experiencing higher growth than Singapore, and this has driven the government to take the initiative of investing over $19 billion to the information technology sector with the desire of making it a hub that will set the pace for the rest of the world. The Information technology industry has become one of the major players behind the economic growth in this country with insatiable demand and improved economies of scale being some of the main aspects that have been realized. The costs involved in developing the industry is less than the value gained when the technological information tools are used in developing and growing the economy. Some of the changes that have been experienced in the sector include the rise of programs like the Bring Your Own Device (BYOD), and it presents the opportunity for the support specialists to expand the scope of operation. A significant increase in the number of young people joining the workforce has made the various organizations to increase the usage of the BYOD programs and enable them to work anywhere, even in remote areas (Makada, Kwadwo, and Sun, 2019). The information technology makes the process of undertaking activities to be easier and faster, and this has driven their demand to be on the rise and the move has led to the organization based in Singapore to raise the number of experts to ensure that the firms are up to date with the latest technology. Another change that has been experienced in the recent past on matters regarding the information technology industry is the organization in the country going digital and automatic a significant number of their operations. The paper will present a report on open innovation in which Singapore has invested $19 billion with the desire to make the nation a vibrant state for innovation and make it successful in the present world. A key analysis will be on the parts of the industry that the funds can be invested in to help in the growth of the information technology industry (Economywatch, 2010). The number of areas that these funds can be directed towards to facilitate the growth process may include the training of the web developers, the mobile application developers, the software engineers, the computer forensic investigators, and information technology consultants.

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The orientation, training, and offering the internship to the trainees are the best strategies that can be used in ensuring that the workers joining the information technology industry have the right skills and expertise. The trainee process is the longest to undertake for they must undertake thorough training with detailed analysis of the various job activities to ensure that once they are released to the market, they will have the capability to handle any arising matter. The timeline of the various activities for a bunch of students that were admitted to the training institute on May 2nd will be as shown below.

Timeline Schedule

Dateline Task or Activities

May 2nd Admission to the training institute for the various groups of learners that will be undertaking the training in this information technology industry

May 3rd Orientation process. The learners will be oriented to help them familiarize with the surroundings and ensure that they are comfortable to start the training process

May 4th- April 30th (1 academic year) Training process will begin with all the stakeholders being involved to ensure high-quality training process is delivered.

May-August Internship Program will be critical in enabling the learners to put into use the theoretical training that they have been getting in the learning institution

The funds that have been invested by the government will be used in undertaking the above activities and ensure that the learner manages to achieve the desired skills and knowledge that will be useful in the market (Freel, 2016). The returns on the huge investments should be realized when the workers will be offering value in the market by making Singapore one of the best countries on matters regarding information technology and innovations. Having a deeper understanding of the matters of technology is what triggers innovations and growth of the economy.

Personal Capability Assessment

Some of the areas that I am weak in include the undertaking of the statistical findings that will be crucial in ensuring that the details I have collected are supported by facts. Another point of weakness is in the making follow-up on the people that have been interviewed to understand how they are faring after the research has been undertaken. A lot of details will need to be collected and included in the report to ensure that it presents a factual situation of the information technology in Singapore. The students will have to be followed from the moment they are admitted, through the orientation, training, internship, and their release to the job market (Lillis, Szwejczewski & Goffin, 2015). The process is useful in determining if they are having positive effects on the industry and if their activities will trigger the desired growth.

The activities that I have decided to undertake to manage the areas of weaknesses include recruiting professionals that will help in managing the collection and recording of data. Including the professionals in doing the follow-ups on the ways that the learners are handling the various strategies of their training process will be critical in ensuring that everything is recorded and the right measures are undertaken whenever there is a problem (Merono-Cerdan & Lopez-Nicolas, 2017). Additionally, having a clear understanding of what is being done is critical in ensuring that the researcher is aware of the activities that are happening. Therefore, I have decided to familiarize with the various issues that need to be undertaken in the research process to get the necessary knowledge and know-how.

Discussion

Open Innovation Model

A company in the information technology industry can rely on the process of open innovation approach to run its activities. This is a procedure in which the firm opens its operations to make use of ideas, latest technological instruments and feedbacks from within and outside the entity with the sore objective of improving the quality of services that it is offering (Cusumano, Kahl & Suarez, 2015). One of the common procedure that the firm can use is the Outside-In Open Innovation which is a process that involves making use of the ideas and responses from parties outside the organization to facilitate the growth of the entity and innovation processes.

The innovation models that can be adopted by an organization can be put into three categories which are

• Open outbound innovation- it involves making use of the external pathways with the desire to commercialize and improve the innovations. There are instances that a firm can send its commodities to another organization to ensure that they are added value to make them more marketable.
• Open inbound innovation- refers to the firm relying on resources from within the company to facilitate its growth and development. In an example, there is the possibility that an entity may in-license technology and use it to improve the quality of goods that it is supplying to the market.
• Coupled process of undertaking the innovations- the process makes a combination of the inbound and outbound processes. It calls for the companies to resist from sharing expertise but rather for the organization to join forces and develop technology.

Ramdhani, M. A., Aulawi, H., Ikhwana, A., & Mauluddin, Y. (2017). Model of green technology adaptation in small and medium-sized tannery industry. Journal of Engineering and Applied Sciences, 12(4), 954-962.

According to the author of the article, green technology has been used for an extended duration to assist in facilitating the sustainable development process. Waste disposal has been an issue that has affected the world in the present world for the continued release of waste to the environment has led to global warming. Green technology adoption is an innovation that has helped in managing the problem and reducing the amount of wastes to the environment. The small industries tend to experience financial problems, and this may lead them to have issues when managing the wastes from the production process. However, with the introduction of green technology, they do not have to worry about the disposal of the waste material for this innovation is cheap and effective. The environment science concept with tannery helping to make a conversion of the raw skin materials into what would be regarded as stable leather that is utilized for various activities and in most of the cases, it does not lot easily. According to the author, the tanning industry has managed to get a system that is producing waste that is environmentally friendly, depicting the benefits that are realized from innovation processes.

Theory in Open Innovation

One of the theories that are depicted in this article and the innovation of green technology concept is technology innovation. The innovation of the systems involves understanding ideas and concepts from outside the firm to have an idea of the technology that they can introduce into the market (Ramdhani, Aulawi, Ikhwana & Mauluddin, 2017). The collaborative networking on matters regarding the research and development is also evident for the various parties in the small and medium enterprises had to work together and invent the system.

Hajir, J., Obeidat, B. Y., Al-dalahmeh, M. A., & Masa'deh, R. (2015). The role of knowledge management infrastructure in enhancing innovation at mobile telecommunication companies in Jordan. European Journal of Social Sciences, 50(3), 313-330.

Innovations in the information technology industry are usually influenced by the knowledge management infrastructure that has been put in place to assist in running the mobile companies. According to the writer, knowledge management tends to have a positive effect on the innovations in the mobile industry. It has been noted that if the mobile industries want to enhance their activities, they will need to maintain the knowledge management structure that is efficient to give them a competitive advantage in the market. The author states that the world market has become competitive, and this calls for the companies to find ways of remaining at the front row in the market through innovations. The innovation process is regarded as the major factor that is behind driving of the economic growth, and it has been supported by various elements that include the fierce market competition, customer requirement changes, and technological changes. The ability of the companies to adopt technological knowledge and enhance the innovation process depend on their ability to acquire and use the skills that they are gaining from outside and within the business. The author states that entities need to remain innovative and keep up with the trends in the market to ensure that they safeguard their market. Failure to do that is likely to trigger a massive movement of clients to rival entities and in turn, loss of revenues, which can lead to its collapse.

Theory in Open Innovation

The theories that can be applied in this case is the market pull innovation for it has been noted that one of the main factors that trigger the ability to have new technologies is the forces of market and demand for commodities in the market. The desire to ensure that an organization remains competitive is what drives them to be innovative and introduce technology that can e...