Blame it on Globalization or Governance?

There has been a long time since I last blogged... even though I tried to find time and tell myself to do something to my blog layout, I was busy with my internship programme at SIM for the past few weeks. Now I have completed my internship and started my new semester for my communication degree... I am also keeping a look out for jobs that I may be interested to embark in (eg. public service sector). This is because I will be graduating soon this year in May 2009.

Interestingly, there has been great policies spearheaded by the Singapore government to revitalize and salvage the current and local economic situation during the bad times. Unemployment, staff retrenchment, pay cut, fewer bonus and low entry salary have become common ever since the US financial crisis hits the world due to globalization. People lost their jobs, government trying their best to minimize the impact and losses, corporations are struggling to survive and consumers are keeping their wallets tied turn out to be the facets of life and underlying "trends" now. If we have known this would happen, there should have been fewer people losing their investments, and better plans to reverse the paddle.

Nonetheless, it seems like not many have come out to speak about how this has happened and why some countries are less affected by the economic downturn. Following the Lehman Brothers and many other major banks which has faced bankruptcy in the United States, states everywhere around the globe suffered tremendously huge sum of capital, funds and investments. It seemed like we can "blame" the financial structure of the US which caused the gigantic "ship" (ie. world's economic) to overturn, but some countries (like Singapore) faced the tides well while keeping their minds optimistic about the situation. Whether or not the future lies a better global economic structure or not, we have learnt that a country may be affected by globalization but if the governance is good and people (especially political leaders) are versatile in handling bad times, we can still fight our way through the tough battle.

Nation upgrading, community bonding, social development, public welfare and economic workforce are the keys aspects to turn the flaps along the tides (realize I didnt say "against the tides"). Why? Because for one basic fundamental in business - "Crisis equals opportunity." For lower-income people, this is a great time to "work even harder" (that's the fact, face it!) and seize any chances to upgrade your skills, qualifications and knowledge. For middle-income entrepueneurs, professionals or business owners, this is your golden opportunity to devise a better way of minimizing expanses (do not focus on profit for now, seriously), expanding your relations with the stakeholders, and opening yourself to new bloods (employees) or ideas (strategic planning). If you still think of working for big bucks rather than on your people now, think twice! For the high-income flyers, good luck! That's all I can say. Although you might be the ones who have the most to lose but if you know how to adjust your profits margins and widen your scope of investments or business venture, you may also be able to take advantage of the situation rather than losing millions in a day or a week. We all have our parts to play, and I hope that my words can inspire those who are pessimistic about their lives ahead. Everyone, cut down your liabilities for now! This is the prime time to build your network! =)

As for me... I know I am not a guru in business, neither am I a high-flyer who earn bigs bucks a day. I am just an optimistic undergrad who wish to seek a great employer who trust my capabilities and can offer me a fantastic career that engages my potential and wits when I graduate in three months time. Public service may also be a good choice for me as I believe very strongly in serving the nation and protecting the community. Since we have the number one governance in the world, close networks with other nations, and the best geographical location, why fear? This is just a time when we have to learn to be responsible for ourselves so that others can count on us!