Economic Growth in Hong Kong Business Plan

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Economic Growth in Singapore:

In addition to the robust economic growth in the recent past, Singapore has been characterized by various structural changes. Some of the methods used to stimulate economic growth for these firms include & #8230;

Technological Progress:

With the rapid structural changes coupled by the depreciating rate of human capital, technological progress is used as one of the methods of stimulating economic growth for firms in Singapore (Thangavelu & Wei, 2006). The country has been trying to increase its technological progress rate because it has realized that its level of economic growth cannot be sustained by increasing inputs into production. Since there is creation of new jobs that require different skills from the traditional jobs, the development of technology-specific skills through technological advances is used as a strategy for stimulating economic growth.

Motivation of Continuous Learning:

Motivation of continuous learning is used as a strategy for encouraging economic growth in Singapore to improve professionalism and employability of the workforce. As firms are encouraged to use this technique, it enables their employees to acquire new skills to meet the new requirements of the changing business requirements. This method is utilized because Singapore's labor market is dominated by an aging workforce population that can't meet the demands of the rapidly changing business environment.

References:

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Kwong, S.K. (n.d.). Productivity and What It Means to Hong Kong. Retrieved from Hong Kong

Policy Research Institute Limited website: http://www.hkpri.org.hk/bulletin/12/sunny-kwong.html

TOPIC: Business Plan on Economic Growth in Hong Kong Assignment

Thangavelu, S. & Wei, Y.Y. (2006, July0). Aging and Economic Growth: Issues Relevant to Singapore. Retrieved from National University of Singapore website: http://www.fas.nus.edu.sg/ecs/pub/wp-scape/0613.pdf
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Economic Growth in Hong Kong.  (2011, November 5).  Retrieved December 6, 2021, from https://www.essaytown.com/subjects/paper/economic-growth-hong-kong/169258

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"Economic Growth in Hong Kong."  Essaytown.com.  November 5, 2011.  Accessed December 6, 2021.
https://www.essaytown.com/subjects/paper/economic-growth-hong-kong/169258.