Entry Mode Business Administristive

         Singapore was newly born with no natural resources and also faced a lots of problem as an infant nation in the 1965. With a GNP per capita of less than U$320, Singapore got into being a third world nation with poor infrastructure and very limited capital. There is also no room for foreign investment to invest here. However the government of Singapore crafted policies based on the situation and made rational judgement for the interest of the country over the years, economy of Singapore has grown swiftly and had achieved being one of the country that has the highest GDP per capita in the world. Singapore economy during the 1960’s depends mostly on foreign trade such as ports activities by exporting of electronic components and refined oil. The country is also leading foreign direct investment recipient and have the most competitive and most business friendly economies in the world. Singapore also play a part in its financial centre for the world as a developed country. This is why Singapore is such an economic powerhouse. (n.d.). Retrieved October 1, 2015.

Real GDP of Singapore has been increasing rapidly from 2006 to 2014 that reach the peak of its economic growth. From 2006 only 127.42 USD billion to now hits 307.87 billion USD at 2014. However during the year 2009 to 2010 its GDP almost remain the same it’s because of the economic crisis at 2009 to 2010 but Singapore recover in a fast pace and continue to growth in its GDP from 192.41 billion USD to 236.37 billion and reach its peak at 2014 with 307.87 billion USD.  Singapore real GDP for the year 2014 is about 307.87 USD billion compare to the 2013 only 302.25 USD billion. It have the highest GDP of all times at 2014 compare to the rest of the years. However, the growth rate of GDP in 2013 is 4.20 % and the growth rate of GDP in 2014 is -4.00 %. The GDP of Annual growth rate in 2014 is lesser than 2013 as its 1.8% at 2014 and 2.8% during 2013. But it is not the highest growth during 2013 as its highest once reach 19.8% for that year. The GDP per capita for 2014 is 71,318(SGD) is much higher than the year 2013 that has only 70,047 (SGD). Singapore Financial Centre. (n.d.). Retrieved October 1, 2015. There is a constant increase over the years since 1965 to 2015 of GDP per capita the gross domestic product (GDP) measures national income and output of Singapore. The gross domestic product (GDP) is equal to the total expenditures for every final goods and services created within Singapore over a period of time. There are several ways to measure the GDP growth of Singapore by measuring the change and compared it with the previous years, we also can measures it by change in the previous quarter, nevertheless the growth since the previous quarter to a yearly growth rate. (n.d.). Retrieved October 1, 2015.    

 The gross domestic product (GDP) for per capita measures using the entire population of Singapore that earns per annum divided by the number of people. However using the whole population is not accurate as they are some people who are not working such as children, students, retirees that are not working therefore it should be excluded from the calculation. The real GDP for Singapore for manufacturing increased from 0.3 to 0.5% from 2013 to 2014. For construction from 0.3% to 0 .1% from 2013 and 2014 show a decreasing in statistics same for all components like wholesale and retail trade decreasing from 1.2 to 0.3 in the comparing 2013 to 2014.Finance and insurance also show decreasing from the year 2013 to 2014 by 1.3% to 0.9% in the year 2014 also 2015 second part of real GDP contribution also show a decreasing in 0.1%. however , despite all the decreasing in all major components Singapore still have an increase in total Real GDP growth and reach about 307.87 USD billion in 2014 compare to 2013. There are several factor that may affect it , one of the reason is Singapore government decided to focus on manufacturing therefore there will be an increase in the percentage of manufacturing and also therefore leads to a decrease in all major components . However, The Singapore government enhances support for SMEs to achieve quality growth by encouraging productivity and innovation such as companies who invest a minimum of $5000 in a year will get cash bonus equivalent to the amount they spent. n.d.). Retrieved October 1, 2015.        They also encouraging industry collaboration for productivity improvements such as they will work with industry business such as trade association and chambers (TACs) to identify sector wide productivity issues face by companies. They also nurtured talent for the SME Sector as their target are ITE and polytechnic students. By recruiting local talent early and give them study award for students and job opportunity after graduation.