Lead study presentation final

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Lead study presentation final

  1. 1. Study on Trade Associations and Chambers (TACs) under the LEAD Programme<br />Presentation<br />- Developed For -<br />April 2011<br />Developed By:<br />Public Sector Practice<br />Frost & Sullivan Asia Pacific<br />
  2. 2. Agenda<br />Engagement Background and Scope<br />1<br />Our Consulting Approach<br />2<br />Insights from the Study<br />3<br />
  3. 3. Engagement Background and Scope<br />Key Objectives and Status<br />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<br />1<br />2<br />3<br />Develop an Association Capability Enhancement Framework (ACEF)<br />Use the developed ACEF to conduct a comprehensive study on the TACs included under the LEAD Programme<br />Identify and prioritize areas in the current operations of the LEAD TACs and develop recommendations for the high-priority areas <br />Work Objectives<br />
  4. 4. Engagement Background and Scope<br />Coverage Scope<br />As part of this engagement, a total of 25 Trade Associations & Chambers (TACs) were studied. They are listed as below<br />Sustainable Energy Association<br />Association of Aerospace Industries Singapore<br />Singapore Food Manufacturers’ Association<br />Association of Private Schools and Colleges<br />Singapore Furniture Industries Council<br />Association of Process Industry<br />Singapore Infocomm Technology Federation<br />Association of Singapore Marine Industries<br />Singapore Malay Chamber of Commerce & Industry<br />Container Depot Association Singapore<br />Singapore Manufacturers’ Federation<br />Singapore Logistics Association<br />TACs Covered<br />Singapore National Shippers’ Council<br />Singapore Transport Association<br />Singapore Precision Engineering & Tooling Association <br />Franchising and Licensing Association Singapore<br />Singapore Water Association<br />Singapore Semiconductor Industry Association<br />Textile and Fashion Federation<br />Singapore Chemical Industry Council<br />Restaurant Association of Singapore<br />Singapore Contractors Association<br />Singapore Industrial Automation Association<br />Singapore Jewellers Association<br />Singapore Venture Capital & Private Equity Association<br />
  5. 5. Agenda<br />Engagement Background and Scope<br />1<br />Our Consulting Approach<br />2<br />Insights from the Study<br />3<br />
  6. 6. Our Consulting Approach<br />Formulating the Association Capability Enhancement Framework (ACEF)<br />Association Capability Enhancement Framework<br />Frost & Sullivan Viewpoint<br />Review of Global and National Benchmarks<br />Source 1<br />Three Buckets of Parameters<br />Source 2<br />Intrinsic<br />1<br />Extrinsic<br />2<br />Industry-Specific Economic<br />3<br />Feedback from SPRING/IE<br />Source N<br /><ul><li>Extensive review of global benchmarks from Europe, US, Australia and the ASEAN countries
  7. 7. Intrinsic: Study how the TACs are internally structured and run. Captured via interactions with TACs’ leadership
  8. 8. Extrinsic: Study how the TACs are perceived by their members. Captured via interactions with the TACs’ member firms
  9. 9. Economic: Provide a background on the industry in which the TAC operates. Captured from public sources.</li></li></ul><li>Our Consulting Approach<br />Association Capability Enhancement Framework (ACEF) - Parameters<br />Extrinsic<br />Intrinsic <br />Transparency<br />Transparency<br />Representation<br />Representation<br />Industry Standing<br />Strategic Direction<br />Quality of Leadership<br />Quality of Leadership<br />Promotional Efforts<br />Employee Recruitment<br />Quality of Secretariat<br />Financial Sustainability<br />Performance Review<br />Financial Planning<br />Services Offered<br />Secretariat Management<br />Innovation<br />Promotional Efforts<br />Membership Costs<br />Breadth of Services<br />Own Performance Review<br />Member Account Mgmt.<br />Strategic Direction<br />ACEF<br />Economic<br />Employment Growth<br />Value Added<br />Profitability<br />Overseas Sales<br />
  10. 10. Our Consulting Approach<br />Research Methodology<br />Interactions<br />Intrinsic Study<br />Extrinsic Study<br />Representatives from the TACs’ member firms<br />Target Respondents<br />Representatives from the TACs<br />Pre-arranged interactions (face to face or phone) with industry players that are members of the TACs<br />N = 600<br />(spread across the industries)<br />Pre-arranged face to face discussions with TAC representatives<br />N= 25<br />(1 discussion/TAC) <br />Mode & Sample<br /><ul><li>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. 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. 12. Economic Parameters – Took the form of gathering industry-specific information for each TAC of focus, from such sources as DOS, EDB etc.</li></li></ul><li>Agenda<br />Engagement Background and Scope<br />1<br />Our Consulting Approach<br />2<br />Insights from the Study<br />3<br />
  13. 13. Insights from the Study<br />Key Observations on the LEAD TACs<br />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:<br />LEAD TACs – Some Key Observations<br />2<br />3<br />4<br />5<br />1<br />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<br />TACs recognize the dangers of relying solely on membership subscription revenues and are endeavoring to diversify their income streams to achieve financial sustainability<br />Outsourcing secretariat functions to specialized association management firms is not quite the norm for local TACs<br />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<br />The TACs represent their industries well, with most having greater than 75% of industry players on their membership rolls<br />
  14. 14. Key Insights<br />3.2<br />Insights from the Study<br />Salient points about service portfolio of TACs from Extrinsic Interviews<br />Key Observations on the LEAD TACs<br />6<br />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<br />7<br />The top-6 services (by importance) that are utilized by TAC members are highlighted below:<br />Utilization<br />Top-6 Services<br />Market Information/ Economic Forecasting Dissemination<br />31%<br />Exhibitions / Trade Shows<br />36%<br />Legislative/ Regulatory Information Dissemination<br />19%<br />Training<br />32%<br />Conferences & Seminars<br />43%<br />Matchmaking Services/ Trade Missions<br />16%<br />
  15. 15. Areas of Focus and Improvement Opportunities<br />Pertinent Observations and Recommendation to TACs and Agencies<br />Extrinsic<br />Intrinsic <br />Transparency<br />Transparency<br />Representation<br />Representation<br />Industry Standing<br />Strategic Direction<br />Quality of Leadership<br />Quality of Leadership<br />Promotional Efforts<br />Employee Recruitment<br />Quality of Secretariat<br />Financial Sustainability<br />Performance Review<br />Financial Planning<br />Services Offered<br />Secretariat Management<br />Innovation<br />Promotional Efforts<br />Membership Costs<br />Breadth of Services<br />Own Performance Review<br />Member Account Mgmt.<br />Strategic Direction<br />ACEF<br />Economic<br />Employment Growth<br />Value Added<br />Profitability<br />Overseas Sales<br />
  16. 16. Gaps & Recommendations<br />Areas of Focus and Improvement Opportunities<br />The key recommendations for above-mentioned gaps are provided below<br />Pertinent Observations and Recommendation to TACs and Agencies<br />Pertinent Observations<br />Focus Area<br />Recommended Action Items<br /><ul><li>Encourage TACs to submit annual business plans as a means to strengthen their case when applying for new / continued LEAD funding
  17. 17. Encourage key secretariat employees at TACs to attend training sessions in the field of business plan preparation
  18. 18. Organize sharing sessions where best practices followed by mature and successful TACs can be disseminated to the newer TACs
  19. 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. 20. Lack of clear and detailed plans to achieve stated mid-term and long-term Vision/Mission
  21. 21. Member participation in reviewing TACs’ strategic direction needs to be more regular</li></ul>Strategic Direction<br />
  22. 22. Gaps & Recommendations<br />3.3<br />Areas of Focus and Improvement Opportunities<br />The key recommendations for above-mentioned gaps are provided below<br />Pertinent Observations and Recommendation to TACs and Agencies<br />Pertinent Observations<br />Focus Area<br />Recommended Action Items<br /><ul><li>Consider setting up a common pool of shared resources (manpower, infrastructure etc.) to help ease some of the financial strains on the TACs
  23. 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. 24. Own income not able to cover expenses
  25. 25. Low growth rate of own income
  26. 26. Need to diversify income streams further</li></ul>Financial Sustainability<br />
  27. 27. Gaps & Recommendations<br />3.3<br />Areas of Focus and Improvement Opportunities<br />The key recommendations for above-mentioned gaps are provided below<br />Pertinent Observations and Recommendation to TACs and Agencies<br />Pertinent Observations<br />Focus Area<br />Recommended Action Items<br /><ul><li>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. 28. Explore launching Association Excellence Recognitions to incentivize TACs to review themselves regularly and take measures to upgrade their operations.
  29. 29. Process of internal performance review needs to be more regular and structured</li></ul>Own Performance Review<br />
  30. 30. Gaps & Recommendations<br />3.3<br />Areas of Focus and Improvement Opportunities<br />The key recommendations for above-mentioned gaps are provided below<br />Pertinent Observations and Recommendation to TACs and Agencies<br />Pertinent Observations<br />Focus Area<br />Recommended Action Items<br /><ul><li>Consider implementing a system to provide information (brochures etc.) on the industry associations to new companies at the time of business registration itself
  31. 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. 32. TACs need to ramp up their promotional efforts and add more innovative channels to their repertoire</li></ul>Promotion/<br />Recruitment Efforts<br />
  33. 33. Gaps & Recommendations<br />3.3<br />Areas of Focus and Improvement Opportunities<br />The key recommendations for above-mentioned gaps are provided below<br />Pertinent Observations and Recommendation to TACs and Agencies<br />Pertinent Observations<br />Focus Area<br />Recommended Action Items<br /><ul><li>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. 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. 35. Need to instill systems and processes to ensure continuity in associations’ work
  36. 36. Lack of formal professional development for secretariat staff
  37. 37. Need for proper staff appraisal and compensation</li></ul>Secretariat<br />Management<br />
  38. 38. Vikas Sharma, PMP®<br />Principal Consultant<br />Public Sector Practice (APAC)<br />+65 6890 0934<br />vsharma@frost.com<br />Frost & Sullivan Singapore<br />100 Beach Road<br />#29-01/11, Shaw Tower<br />Singapore 189702<br />Tel: +65 (0) 6890 0999<br />Fax: +65 (0) 6890 0988<br />www.frost.com<br />Frost & Sullivan<br />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. <br />To join our Growth Partnership, please visit http://www.frost.com.<br />

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