Performance strategies for the knowledge driven built environment : the Singapore case

Abstract

The Internet and Technology Revolution has created a new business environment, one in which traditional business rules are being challenged, and even repudiated. Information Communication Technology (ICT) has made a major impact to many business sectors, ranging from retail, stock trading, banking, logistics and the built environment. It has created new market opportunities for governments, companies, and offers existing businesses new ways to reach out to customers and to deliver services more effectively, often at lower costs. It has also allowed businesses to transcend geographical boundaries and enter new global markets. Clearly, this new environment poses new business challenges, and governments must now quickly figure out how to identify ICT opportunities and effectively compete in the new economy. Pervasive adoption of ICT will have an important multiplier effect for the economy through the transforming the way people live and boosting the way companies and industries do business. As a country, Singapore must also effectively address the challenges of the new economy. The vision is to position Singapore as a trusted global hub in the Internet economy, one in which ICT plays a dominant role in government, business and consumer transactions. Going forward, Singapore must also extend its reach to new markets and move up the value chain in its usage of ICT solutions. To achieve this, Singapore will need to create an ICT centric and equipped built environment in which e-lifestyle and ebusiness is pervasive, and where the hard and soft ICT infrastructures are well developed.