What Are Industry Transformation Maps? (Definition and Lists)
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The government first launched the industry transformation maps (ITMs) in 2016 to help companies understand the fast-changing business environment and deepen partnerships between different stakeholders. It designed the ITMs to enhance enterprise capabilities and ecosystems, develop human capital and promote collaboration among the country's industries. Understanding ITMs can help you improve your productivity. In this article, we define ITMs, discuss who oversees them and their clusters and explore the ITM lists of industries.
What are industry transformation maps?
Industry transformation maps are frameworks designed by the Future Economy Council (FEC) to encourage collaboration among stakeholders from different industries and to enable companies to understand the developing business environment. ITMs bring together the government, trade associations and chambers, private companies, economic agencies and several other stakeholders from the 23 industries in the country to address issues within each sector. We can group the framework's transformation strategies into four major categories:
Developing human capital: This vision involves providing grants for internships to strengthen the country's pool of leaders and build talents for different industries. It also encourages employer-led capacity building and other training sessions to equip you with skills and knowledge on emerging business trends.
Promoting collaboration and strong networks: The FEC seeks to establish and encourage partnerships within industries and across various sectors. Through collaboration, stakeholders can appreciate how different sectors are interdependent and identify ways to address issues within each industry jointly.
Building enterprise capabilities: The focus is on connecting businesses with telecommunication providers, Infocomm Media Development Authority (IMDA) and banks to promote technology adoption. It also encompasses the Scale-up SG programme, where public and private sector partners select a few small and medium-sized enterprises (SMEs) and nurture them to become future industry leaders.
Enhancing enterprise ecosystems: This strategy seeks to make the compliance landscape and regulatory requirements more business-friendly. FEC works with industry stakeholders and the government to review existing business laws to make them more favourable for SMEs to thrive.
Who oversees ITMs?
The FEC oversees the designing and implementation of the ITMs. It has seven clusters comprising political office holders and stakeholders from the private sector to help it create and deploy the transformation frameworks. These clusters are interdependent but have areas of specialisation:
Connectivity cluster: It implements transformation frameworks in the air, sea and land transport sectors. The group falls under the Ministry of Transport (MOT).
Advanced manufacturing and trade (AMT) cluster: This group falls under the Singapore Economic Development Board (EDB). It oversees transformation in eight sectors: wholesale trade, aerospace, food manufacturing, precision engineering, energy and chemicals, marine and offshore, logistics and electronics.
Urban systems cluster: It handles transformation in security, real estate and construction industries. It's under the Building and Construction Authority (BCA) and draws members from the Ministry of Communications and Information, Ministry of National Development and the United Overseas Land (UOL) Group Ltd.
Human health and potential (HHP) cluster: It focuses on transforming the healthcare and education sectors. The cluster is under the Ministry of Education (MOE) and the Ministry of Health (MOH) and has a co-chair from the Non-Executive Chairperson of SIM Group Ltd.
Modern services cluster: It draws members from three sectors: financial services, ICT and media and professional services. The Ministry of Communications and Information (MCI) oversees the development and implementation of transformation frameworks in this cluster.
Resources and environmental stability cluster: This branch falls under the Ministry of Trade and Industry (MTI) and Ministry of Sustainability and the Environment (MSE). It oversees the implementation of ITMs in the environmental services sector.
Lifestyle cluster: It oversees the implementation of transformation frameworks in the hotel, food services and retail industries. The cluster is under the Enterprise Singapore (ESG) agency.
The Future Economy Council works with the government and stakeholders to implement the $4.5 billion ITMs programme. The primary aim is to create good jobs and ample business opportunities across all sectors. FEC has six sub-committees to help achieve this mandate. Each sub-committee has a list of industries it oversees. Here are the sub-committees and sectors they handle:
The manufacturing sub-committee oversees the implementation of ITMs in the following five industries:
Precision engineering: One of the critical strategies of the precision engineering ITM is shifting the industry into new growth areas by growing complementary segments like additive manufacturing, robotics, advanced materials, sensors, lasers and optics. By promoting more digital manufacturing in this sector, the ITM seeks to increase production capacity and create new products and services.
Energy and chemicals: The ITM seeks to encourage at least 20 refineries and crackers to integrate advanced manufacturing technologies into their processes. It aims to help the industry increase production capacity and make tasks easier.
Marine and offshore: The industry's transformation map seeks to create approximately 1,500 new jobs by 2025. The government is helping stakeholders research, develop and deploy next-generation marine and offshore solutions.
Aerospace: The aerospace ITM's initial aim was to create over 1,000 new jobs in the industry by the end of 2020, a goal that it reasonably achieved. It also encourages stakeholders to focus on increasing productivity within the sector by investing in modern facilities and equipment.
Electronics: This industry's ITM prepares the sector to take advantage of emerging global trends in two ways. The first strategy is the diversification of the industry, and the second is widening the existing electronics manufacturing base.
The built environment sub-committee handles ITMs across the following four industries:
Construction: The ITMs here focus on digital integration. Introducing modern construction techniques seeks to create better jobs and make your work easier.
Real estate: The Real Estate ITM brings together industry stakeholders, academia, union leaders and the government to prepare the sector for the future. It aims to promote innovation and technology integration into the industry.
Security: The built environment sub-committee designed the security ITM to propel the industry towards delivering high-quality solutions by leveraging technology. The framework also focuses on training and capacity building.
Environmental services: Here, the aim is to achieve a clean and liveable Singapore under the Zero Waste vision. The ITM entails intersectoral initiatives and strategies to encourage all sectors to contribute to this goal.
Trade and connectivity
Next is the Trade and Connectivity sub-committee that oversees ITMs in five industries, including:
Air transport: The Air Transport ITM highlights strategies to create career opportunities and better jobs in the aviation industry. It aims to create over 8,000 new jobs by 2025.
Logistics: This sector's ITM seeks to position Singapore as an international logistics hub. The trade and connectivity sub-committee plans to achieve this by improving operations excellence and encouraging innovation.
Land transport: The Land Transport ITM envisions a highly competitive workforce and increased innovation in the sector. It seeks to empower the industry to stay relevant and responsive to emerging trends.
Sea transport: The ITM here comprises a blueprint for positioning Singapore as a global maritime hub for connectivity. It also seeks to create over 5,000 new jobs in the sector by 2025.
Wholesale trade: The ITM plans to digitalise the sector and prepare it for global growth and productivity. It also has a framework to impart the sector's talent with better skills.
Essential domestic services
This sub-committee is in charge of ITMs in two industries:
Healthcare: The Healthcare ITM includes a detailed framework for imparting the workforce with better skills. It also explores ways to create more job opportunities and make the industry future-ready.
Education: This sector's ITM primarily focuses on early childhood education. It highlights how to support young families with children and strategies to give every child access to high-quality education.
It's the only sub-committee that is also a cluster. The Modern Services committee falls under the Ministry of Communications and Information (MCI) and oversees ITMs in three industries:
Professional services: The sector has a five-to-ten-year ITM that seeks to place Singapore as a global leader in specialist services. It includes a roadmap to promote innovation and equip the workforce with specialised skills.
Financial services: The Financial Services ITM aims to position Singapore as a financial hub in Asia and globally. It highlights how the sector can harness technology, increase innovation and build skills and capabilities.
ICT and media: ICM's ITM is a framework to prepare all industries for the digital economy. The blueprint involves encouraging the sector to invest in Artificial Intelligence, cybersecurity and data analytics.
The Lifestyle sub-committee handles ITM development and implementation across four industries:
Food and manufacturing: The sector's ITM includes a roadmap to develop Singapore into Asia's top food and nutrition hub. Some of its strategies include the establishment of a Food Innovation Cluster to foster collaboration and training for employees in this industry.
Food services: The sector's transformation flagship project was the opening of Happy Hawkers and FoodTastic coffee shops. The two shops show how the industry can use innovative formats and technologies to make production easier and better meet consumers' desires.
Hotel: The ITM identifies ways to transform the hotel sector for sustainable growth. Some framework's strategies include imparting employees with better skills, promoting innovation and developing business models that require less workforce.
Retail: The Retail ITM seeks to drive growth through innovation, enhance productivity with technology and create a future-ready workforce for the sector. It also aims at helping the country's retail industry become international.
Please note that none of the companies, institutions or organisations mentioned in this article are affiliated with Indeed.
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