Are You Ready For The Disruptive Future?

The possibility of disruptive forces changing your work and life is not just a warning but a way of life in the new world of disorder.

We are better off learning how to proactively embrace, adapt to, and leverage on disruptive forces to propel us to the next level of growth.

To do that, we need to address some of the following broader questions about our future:
How should we invest in the world that we are living in or the world we should be living in?

How can we achieve a stronger, more balanced, and more stable, secure and sustainable growth?

How can we resolve economic inequality and enhance social mobility?

How can we improve quality of life because that’s the litmus test for the motives, means and ends of economic development?

In line with addressing these questions, there are some possible game-changers that can make a difference to our collective future.

There is a need to strengthen our repository of information and big data analytical resources.

This is to ensure that our policy-development and decision-making processes are underpinned by relevant, accurate and up-to-date information.

In a fast-changing world, there is a need to set up environmental scanning and intelligence gathering systems on a global basis.

It will help us predict economic and business trends; preempt opportunities; achieve first-mover advantages; move up the food and value chain; and become a market and price maker rather than a market and price taker.

To secure our future, we need to implement major market and structural reforms so as to reduce economic uncertainty and reinvigorate current level of growth.

These reforms are not just about developing new markets and sources of growth but also about helping local enterprises to be competitive and be transformed into global players.

Our local enterprises need to move up the innovation curve and focus on value creation and not just on value addition.

As it stands, our local enterprises are comparatively lagging behind in terms of being or becoming a world-beating champions when they are compared with many similar enterprises in the most advanced nations.

We need to deepen our integration with and leverage on the global economy so as to strengthen our status as a switching centre for the global value chain.

We need to develop proprietary high valued-added produces and services to help us
move up the food and value chain; and become a market maker rather than a price taker.

With cutting-edged and innovative business models, these firms can help to boost economic investments and growth, and meet expectations of a more educated and increasingly demanding workforce.

For example, we need to continue to attract high value-added and high-tech firms to invest in our economy, especially if they are well-positioned in strategic areas and synergistic to our economic development
such as the development of intelligent and eco-friendly cities.

With cutting-edged and innovative business models, these firms can help to boost economic investments and growth, and meet expectations of a more educated and increasingly demanding workforce.

In addition, we need to continue to attract, develop and groom both local and overseas talents so as to help resolve relatively low productivity output, decreasing total fertility rate, and impact of an aging population.

To do so, we have to aggressively tackle the undue concerns about foreign talents and the dangerous rationale underpinning xenophobia. These challenges seem to be rearing its ugly head every now and then, especially on the wild wild web.

We need to promote the fact that if the right foreign talents are effectively assimilated and integrated into the workforce, it can be a plus factor to society and a major contribution to the economy.

In the brave new exciting world, we cannot afford to just tweak our current policies and fiddle with our existing infrastructure and systems.

Just like what the late Mr Lee Kuan Yew and the other founding fathers have done in the past, we need to continue to redesign our economy and take major, including unprecedented initiatives so that we will become an admired and lovable “unicorn” right through to SG100 and beyond.

Go4It!

I hope this message will find a place in your heart.

By the way, I have also recorded other reflections.

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