Tag: automation

Whither Productivity?

March 1, 2013 Blog, Business and Management 1 comment


Din Tai Fung is a paragon of productivity (courtesy of Aroma Cookery)

Business as usual can no longer work in Singapore. We desperately need to change.

While we’ve enjoyed modest economic growth of 1.3% in 2012, and are estimated to experience 1% to 3% GDP growth this year, labour productivity declined by 2.6% last year. This wiped out productivity gains of 1.3% the year before, with the impact felt across manufacturing, construction and services sectors. Only the Info Comm sector experienced growth.