the impact of social welfare and industrial policy initiatives

The social welfare policy affects the actions of the employer and the employee in the labour market, and on this basis, it makes a notable impact on the unemployment rate.

The goal of social welfare is to fulfill the social, financial, health, and recreational requirements of all individuals in a society. Social welfare seeks to enhance the social functioning of all age groups, both rich and poor.

           

An Industrial Policy can be defined as a set of actions or interventions by the state in order to affect the way factors of production are being distributed across national industries.

The impact of social and industrial policies when applied correctly can lead to rapid economic restructuring changing from export-oriented industrialisation of traditional labour intensive products to more complex and sophisticated export-oriented industrialisation based on the export of capital and technology intensive manufactured products which is taking place in Singapore.

 the impact of macro-economic policy measures and the influence of the global economy

 

Two aspects of economic globalization on Singapore.

Strengths	Weakness
The government’s highly efficient and flexible, foreign relations and competitive business environment caters to the changing need of globalization.	A small country with a limited pool of resources and population resulted in the economy depending heavily on overseas market demand. Economic development is restricts by external economy severely.
The economy will be able to evolve and improve.	Lack of local talent and hence it impedes the growth of SMEs which is critical since globalization tolerates only the strongest and the fittest. This makes it difficult for SMEs to grow.
Participation in the economic globalization resulted in competitive advantages of various qualities.	The mentality of the new generation in Singapore can be thought of as lacking in experiencing hardship and hence is weak when adapting oneself to face new challenges and problems.

solar cell part 2
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The market for solar panels in Europe and the United States slowed to a crawl in 2010, while the market in China grew at a rapid pace. Although the short-term prospects in the United States were modest, the longer-term prospects were substantial. Analysts anticipated a fivefold increase in the market for solar panels and related technologies over the next 5 years. For instance, General Electric, which was a major supplier of wind turbines, decided to become a major supplier of solar panels as part of its renewable energy strategy.

In April 2011, GE announced that it would build a solar panel plant with a capacity of 400 megawatts, making it the largest plant in the United States. GE’s announcement followed its acquisition of PrimeStar Solar, which according to the Department of Energy produced the highest efficiency thin-film solar panels. The long-run prospects for solar panels anticipated by GE were soon after confirmed as Total SA of France, the world’s sixth largest oil company, bought 60 percent of SunPower for $1.37 billion, representing a 40 percent premium above the company’s share price.

The actions by GE and Total represented good and bad news for other solar panel producers. The good news was that two huge companies were optimistic about the growth of the solar panel market in the United States and worldwide. The bad news was that solar power start-ups now faced two more large competitors with deep pockets and access to alternative technologies.

telecommunication)

 This company operates in a highly uncertain environment. This uncertainty stems from complexity, dynamism, and richness. The environment is complex because the company offers a wide range of products to many customers and must manage relationships with many outside stakeholder groups, such as customers, suppliers, competitors, and the government. The industry is extremely dynamic because technology changes rapidly and other forces, such as international forces, are also changing. Moreover, competition is intense in the industry. All of these factors increase uncertainty and transaction costs

The company will need to implement more formal inter-organisational strategies. It should consider forming strategic alliances. It can form long-term contracts with suppliers. It can form joint ventures with competitors to share the risks and costs of developing new technology. Alliances also help the organization stay small, so it can react to the environment quickly. The organization may also consider outsourcing to avoid bureaucratic costs

Market coordination

Market coordination is best described through an example. Consider the production of

a heavyweight boxing match. The fight promoter hires an arena, a boxing ring, broadcast specialists, concession services, some boxers, a publicity agency, and a ticket agent.

These are all market transactions. The promoter then sells tickets to the event through the ticket agent, along with broadcasting rights to a television network. So, the fight is produced through the coordination of markets.

Another example of market coordination is outsourcing. With outsourcing, a manufacturer of a product buys some or all of the product's components from other firms. The manufacturer then assembles all of the outsourced components to produce the final product. Outsourcing is a common practice in the automobile and personal computer industries.

Firm coordination

Firm coordination occurs when firms can coordinate economic activity more efficiently than markets can. This is possible because firms can often achieve lower transaction costs, economies of scale, economics of scope, and economies of team production.

·         Transaction costs refer to the costs associated with the negotiations that must take place when attempting to coordinate markets. Firms can often reduce transaction costs by reducing the number of individual transactions that must take place.

·         Economies of scale exist when the average unit cost of producing a good decreases as output increases.

·         Economies of scope occur when a firm can use its specialized resources to produce a range of goods and services. For example, a publisher hires editors, typists, reporters, marketing experts, and media distribution specialists and uses their skills across all of the firm's published products. This is less expensive to the publisher than it would be for an individual who attempted to hire these services individually in the markets.

·         Economies of team production occur when a team of a firm's employees becomes highly efficient at a given task. It is usually less expensive for a firm with a well- honed team to produce a good or service than for an individual who has to hire the individual members of a team in the markets.

Solar cell

 The market for solar panels is global, and firms in many countries are capable of producing the panels. Photovoltaic solar cells are based on a technology similar to that used to produce semiconductors, and most semiconductors are produced in East Asia with some production in Europe and the United States. Chinese manufacturers with conventional photovoltaic technology set the cost standard for the industry. Moreover, China maintained a lower dollar–yuan exchange rate than if the market were allowed to set the rate, although China had allowed the exchange rate to rise somewhat in 2010.

Another factor in China’s favor was its government. The Chinese government is authoritarian and can act quickly and decisively. The size of the Chinese economy also means that resources can be readily mobilized by government in the domestic capital and factor input markets. The Chinese government views renewable energy as an attractive industry for growth and also for dealing with China’s substantial pollution problems and its high-energy usage. That the Chinese government would provide incentives for renewable energy companies, and even generous subsidies, was not surprising.

Another factor in China’s favor was its government. The Chinese government is authoritarian and can act quickly and decisively. The size of the Chinese economy also means that resources can be readily mobilized by government in the domestic capital and factor input markets. The Chinese government views renewable energy as an attractive industry for growth and also for dealing with China’s substantial pollution problems and its high-energy usage. That the Chinese government would provide incentives for renewable energy companies, and even generous subsidies, was not surprising.