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Lead study presentation final

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  • 1. Study on Trade Associations and Chambers (TACs) under the LEAD Programme
    Presentation
    - Developed For -
    April 2011
    Developed By:
    Public Sector Practice
    Frost & Sullivan Asia Pacific
  • 2. Agenda
    Engagement Background and Scope
    1
    Our Consulting Approach
    2
    Insights from the Study
    3
  • 3. Engagement Background and Scope
    Key Objectives and Status
    The engagement aimed to identify key areas where government support can be enhanced to better nurture the capabilities of Trade Associations and Chambers (TACs) under the LEAD Programme. With this aim in mind, the following work items were undertaken by the Frost & Sullivan engagement team
    1
    2
    3
    Develop an Association Capability Enhancement Framework (ACEF)
    Use the developed ACEF to conduct a comprehensive study on the TACs included under the LEAD Programme
    Identify and prioritize areas in the current operations of the LEAD TACs and develop recommendations for the high-priority areas
    Work Objectives
  • 4. Engagement Background and Scope
    Coverage Scope
    As part of this engagement, a total of 25 Trade Associations & Chambers (TACs) were studied. They are listed as below
    Sustainable Energy Association
    Association of Aerospace Industries Singapore
    Singapore Food Manufacturers’ Association
    Association of Private Schools and Colleges
    Singapore Furniture Industries Council
    Association of Process Industry
    Singapore Infocomm Technology Federation
    Association of Singapore Marine Industries
    Singapore Malay Chamber of Commerce & Industry
    Container Depot Association Singapore
    Singapore Manufacturers’ Federation
    Singapore Logistics Association
    TACs Covered
    Singapore National Shippers’ Council
    Singapore Transport Association
    Singapore Precision Engineering & Tooling Association
    Franchising and Licensing Association Singapore
    Singapore Water Association
    Singapore Semiconductor Industry Association
    Textile and Fashion Federation
    Singapore Chemical Industry Council
    Restaurant Association of Singapore
    Singapore Contractors Association
    Singapore Industrial Automation Association
    Singapore Jewellers Association
    Singapore Venture Capital & Private Equity Association
  • 5. Agenda
    Engagement Background and Scope
    1
    Our Consulting Approach
    2
    Insights from the Study
    3
  • 6. Our Consulting Approach
    Formulating the Association Capability Enhancement Framework (ACEF)
    Association Capability Enhancement Framework
    Frost & Sullivan Viewpoint
    Review of Global and National Benchmarks
    Source 1
    Three Buckets of Parameters
    Source 2
    Intrinsic
    1
    Extrinsic
    2
    Industry-Specific Economic
    3
    Feedback from SPRING/IE
    Source N
    • Extensive review of global benchmarks from Europe, US, Australia and the ASEAN countries
    • 7. Intrinsic: Study how the TACs are internally structured and run. Captured via interactions with TACs’ leadership
    • 8. Extrinsic: Study how the TACs are perceived by their members. Captured via interactions with the TACs’ member firms
    • 9. Economic: Provide a background on the industry in which the TAC operates. Captured from public sources.
  • Our Consulting Approach
    Association Capability Enhancement Framework (ACEF) - Parameters
    Extrinsic
    Intrinsic
    Transparency
    Transparency
    Representation
    Representation
    Industry Standing
    Strategic Direction
    Quality of Leadership
    Quality of Leadership
    Promotional Efforts
    Employee Recruitment
    Quality of Secretariat
    Financial Sustainability
    Performance Review
    Financial Planning
    Services Offered
    Secretariat Management
    Innovation
    Promotional Efforts
    Membership Costs
    Breadth of Services
    Own Performance Review
    Member Account Mgmt.
    Strategic Direction
    ACEF
    Economic
    Employment Growth
    Value Added
    Profitability
    Overseas Sales
  • 10. Our Consulting Approach
    Research Methodology
    Interactions
    Intrinsic Study
    Extrinsic Study
    Representatives from the TACs’ member firms
    Target Respondents
    Representatives from the TACs
    Pre-arranged interactions (face to face or phone) with industry players that are members of the TACs
    N = 600
    (spread across the industries)
    Pre-arranged face to face discussions with TAC representatives
    N= 25
    (1 discussion/TAC)
    Mode & Sample
    • Intrinsic Study – Took the form of pre-arranged face to face discussions with senior representatives from the TACs. One detailed discussion was conducted per TAC.
    • 11. Extrinsic Study – Took the form of phone interviews conducted by Frost & Sullivan’s associates. Minimum number of N=20 interactions per TAC. Adequate coverage and representation given current scope. Could be expanded in subsequent iterations to a more statistically significant sample
    • 12. Economic Parameters – Took the form of gathering industry-specific information for each TAC of focus, from such sources as DOS, EDB etc.
  • Agenda
    Engagement Background and Scope
    1
    Our Consulting Approach
    2
    Insights from the Study
    3
  • 13. Insights from the Study
    Key Observations on the LEAD TACs
    Over the course of the study, the Frost & Sullivan engagement team formed some useful opinions on the capabilities of the LEAD TACs. These are highlighted below:
    LEAD TACs – Some Key Observations
    2
    3
    4
    5
    1
    Leaders are committed to their TACs’ success with council members spending up to 4 days a month on association business in addition to time commitments to their own firms
    TACs recognize the dangers of relying solely on membership subscription revenues and are endeavoring to diversify their income streams to achieve financial sustainability
    Outsourcing secretariat functions to specialized association management firms is not quite the norm for local TACs
    In contrast with their counterparts in Europe and North America, most local TACs do not as yet offer auxiliary services like supplier discounts, access to funding, testing/certification, and dispute resolution/arbitration
    The TACs represent their industries well, with most having greater than 75% of industry players on their membership rolls
  • 14. Key Insights
    3.2
    Insights from the Study
    Salient points about service portfolio of TACs from Extrinsic Interviews
    Key Observations on the LEAD TACs
    6
    On an average, approximately 58% of companies are aware that a part of the association which they are a member of, is funded under the LEAD program
    7
    The top-6 services (by importance) that are utilized by TAC members are highlighted below:
    Utilization
    Top-6 Services
    Market Information/ Economic Forecasting Dissemination
    31%
    Exhibitions / Trade Shows
    36%
    Legislative/ Regulatory Information Dissemination
    19%
    Training
    32%
    Conferences & Seminars
    43%
    Matchmaking Services/ Trade Missions
    16%
  • 15. Areas of Focus and Improvement Opportunities
    Pertinent Observations and Recommendation to TACs and Agencies
    Extrinsic
    Intrinsic
    Transparency
    Transparency
    Representation
    Representation
    Industry Standing
    Strategic Direction
    Quality of Leadership
    Quality of Leadership
    Promotional Efforts
    Employee Recruitment
    Quality of Secretariat
    Financial Sustainability
    Performance Review
    Financial Planning
    Services Offered
    Secretariat Management
    Innovation
    Promotional Efforts
    Membership Costs
    Breadth of Services
    Own Performance Review
    Member Account Mgmt.
    Strategic Direction
    ACEF
    Economic
    Employment Growth
    Value Added
    Profitability
    Overseas Sales
  • 16. Gaps & Recommendations
    Areas of Focus and Improvement Opportunities
    The key recommendations for above-mentioned gaps are provided below
    Pertinent Observations and Recommendation to TACs and Agencies
    Pertinent Observations
    Focus Area
    Recommended Action Items
    • Encourage TACs to submit annual business plans as a means to strengthen their case when applying for new / continued LEAD funding
    • 17. Encourage key secretariat employees at TACs to attend training sessions in the field of business plan preparation
    • 18. Organize sharing sessions where best practices followed by mature and successful TACs can be disseminated to the newer TACs
    • 19. Encourage TACs to solicit regular feedback from their members on their strategic direction, via channels such as surveys, town hall meetings, group discussions etc.
    • 20. Lack of clear and detailed plans to achieve stated mid-term and long-term Vision/Mission
    • 21. Member participation in reviewing TACs’ strategic direction needs to be more regular
    Strategic Direction
  • 22. Gaps & Recommendations
    3.3
    Areas of Focus and Improvement Opportunities
    The key recommendations for above-mentioned gaps are provided below
    Pertinent Observations and Recommendation to TACs and Agencies
    Pertinent Observations
    Focus Area
    Recommended Action Items
    • Consider setting up a common pool of shared resources (manpower, infrastructure etc.) to help ease some of the financial strains on the TACs
    • 23. Conduct a global study to identify best practices in how TACs elsewhere have successfully diversified their income streams and decreased reliance on government support
    • 24. Own income not able to cover expenses
    • 25. Low growth rate of own income
    • 26. Need to diversify income streams further
    Financial Sustainability
  • 27. Gaps & Recommendations
    3.3
    Areas of Focus and Improvement Opportunities
    The key recommendations for above-mentioned gaps are provided below
    Pertinent Observations and Recommendation to TACs and Agencies
    Pertinent Observations
    Focus Area
    Recommended Action Items
    • Encourage TACs to solicit regular feedback from their members on their strategic direction, via channels such as surveys, town hall meetings, group discussions etc.
    • 28. Explore launching Association Excellence Recognitions to incentivize TACs to review themselves regularly and take measures to upgrade their operations.
    • 29. Process of internal performance review needs to be more regular and structured
    Own Performance Review
  • 30. Gaps & Recommendations
    3.3
    Areas of Focus and Improvement Opportunities
    The key recommendations for above-mentioned gaps are provided below
    Pertinent Observations and Recommendation to TACs and Agencies
    Pertinent Observations
    Focus Area
    Recommended Action Items
    • Consider implementing a system to provide information (brochures etc.) on the industry associations to new companies at the time of business registration itself
    • 31. Create a pool of shared IT resources / templates to guide TACs in how to improve their web portals and run them effectively as primary channels of promoting their services to members
    • 32. TACs need to ramp up their promotional efforts and add more innovative channels to their repertoire
    Promotion/
    Recruitment Efforts
  • 33. Gaps & Recommendations
    3.3
    Areas of Focus and Improvement Opportunities
    The key recommendations for above-mentioned gaps are provided below
    Pertinent Observations and Recommendation to TACs and Agencies
    Pertinent Observations
    Focus Area
    Recommended Action Items
    • Encourage TACs to conduct annual performance reviews for all their employees to provide them constructive feedback. Should encourage TAC leaders to attend available courses on employee performance management to assist them with this process
    • 34. Encourage TACs to diversify their means of employee motivation to include not just remuneration, but also opportunities for training and continuous professional development. In-house trainings at the TACs can be well supplemented by sending employees for available training programs outside
    • 35. Need to instill systems and processes to ensure continuity in associations’ work
    • 36. Lack of formal professional development for secretariat staff
    • 37. Need for proper staff appraisal and compensation
    Secretariat
    Management
  • 38. Vikas Sharma, PMP®
    Principal Consultant
    Public Sector Practice (APAC)
    +65 6890 0934
    vsharma@frost.com
    Frost & Sullivan Singapore
    100 Beach Road
    #29-01/11, Shaw Tower
    Singapore 189702
    Tel: +65 (0) 6890 0999
    Fax: +65 (0) 6890 0988
    www.frost.com
    Frost & Sullivan
    Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 35 offices on six continents.
    To join our Growth Partnership, please visit http://www.frost.com.