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Essay / Research Paper Abstract
In 2002 Michael Porter suggested, to Singaporean business leaders, that economically it was crucial that the business community embrace a number of key people management practices. Amongst these practices he suggested that Singaporean businesses needed to develop cultures that fostered creativity, innovation and continuous improvement. This 4 page paper assesses this suggestion. The bibliography cites 6 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEinnosing.rtf
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Unformatted sample text from the term paper:
that Porter has developed in terms of competitive advantages and the resources which are needed it order to develop or sustain competitive advantages (Porter, 1985). This is true regardless of
the type of advantage being sought; cost of differentiation. There will always be those who seek to copy or emulate and advantage and mean that the competitive advantage is lost,
if it has already been gained. It is with this in mind that companies need to compete and develop strategy. Resources needed may include research and development for differentiation or
the development of new methods as well as increased market to gain a cost advantage. Singapore is in a unique position, but
it is also a culture that is limited in terms of innovations, with most companies often utilising a follower strategy. The country was founded as a trading colony by Britain
in 1819, however, in 1863 the country joined Malaysia only to leave after anther two years (CIA, 2005). The position of the country is now as one of the worlds
strongest economic countries, with a per head capita that will match most western nations and a port that is one of the busiest in the world (CIA, 2005). One of
the advantages the country has with trade is the geographically strategic position as a focal point for all south East Asia sea maritime trading routes. Therefore the location has many
advantages that the companies can take advantage of if they are able to develop and maintain long term competitive advantages. If we
are to argue the company needs to foster a culture of innovation and creativity it is mot only the fact this is needed that is important, we also need to
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