Singapore -- the region's hub of corporate education
Singapore -- the region's hub of corporate education
Sudibyo M. Wiradji, The Jakarta Post, Singapore
Known worldwide as a thriving, dynamic center for commerce and
industry, Singapore has not only evolved into a preferred
academic destination for overseas students but also a corporate
learning and training hub.
With education being the key to the development of Singapore's
society, numerous educational institutions have been established
to meet the need for quality education.
Over the last several years, Singapore has been attracting
international students thanks not only to the quality education
offered by its schools, but also because of its strategic
location, excellent infrastructure and accessibility.
Located at the crossroads of the world in the Malacca Strait,
Singapore is home to at least 7,000 multinational corporations
and several thousand financial centers and trading firms.
The presence of numerous global corporations has not only
encouraged the establishment of many quality educational
institutions and training and consultancy service centers, but
also has prompted companies from neighboring countries, such as
those from Indonesia, to study the successes of the island's
corporations.
Many international professionals and executives travel to the
country to attend corporate training courses. Others also seek
out MBA or doctoral programs to prepare themselves for the next
stage of their personal and professional development.
"Sometimes, corporate education programs also include a visit
to a company through which participants can gain an insight on
certain areas," said Singapore Tourism Board's education service
division manager, Selene NG Lin Ying.
It is no wonder that with a lively, inspired and challenging
environment to develop one's potential, Singapore has become a
significant destination for corporate education.
At least 40 educational institutions and related service
providers are available, with many running programs targeted at
professionals and executives.
The Center For Creative Leadership, Management Development
Institute, Novation Business School, Raffles International
Training Center, Singapore (RITC), National University of
Singapore (NUS) Business School, Singapore Institute of
Management (SIM), Nanyang Technology University (NTU), Singapore
Human Resource Institute (SHRI), Tourism Academy and the US-based
Chicago Graduate School of Business (GSB) Asia Campus, to name
but a few, are among the corporate education service providers
that help professionals and executives enhance their professional
and managerial skills.
Most corporate education service providers are equipped with
state-of-the-art facilities, including lecture theaters and
tutorial rooms, seminar rooms, video-conferencing facilities and
computer laboratories and wireless broadband connectivity.
Several education service providers also have on-campus
executive centers, financial trading rooms and e-commerce labs.
"We really want participants to feel comfortable when
attending a training session," said Nanyang Business School's
director for marketing and admission division, James Quek.
The Chicago GSB Asia Campus features a lecture hall that can
accommodate at least 90 students, 20 fully equipped study group
rooms, a "Nobel Laureate Hall of Fame", a function room and an e-
library, as well as an elegant and exquisite glass-walled student
lounge.
Courses
For executives interested in taking short courses, there are
at least 300 courses offered by different educational institutes
in Singapore.
A schedule of courses and information on topics, objectives
and costs can be found in the Corporate Education Guide published
annually by the Singapore Tourism Board (STB).
The short courses for professionals and executives range from
management development to skills management workshops.
A wide range of topics is offered in areas such as business
development, international marketing, information technology,
business management, creativity and innovation, hospitality and
tourism and leadership development.
However, most training providers are able to customize
executive programs to fit a company's requirements. "If a company
needs a special program, then we should first make a training
needs analysis and program design," said Singapore Institute of
Management corporate training director Lim Kuan Meng.
Commonly, a short course ranges from two to five days, except
for courses on languages that usually run for two weeks.
The cost for a course depends on the topic, duration and the
institution.
For instance, a two-day course on Financial Modeling In Excel
at the National University of Singapore (NUS) Business School
costs S$380 (about US$220). A two-day course on the topic: How To
Conduct an Effective Performance Appraisal Discussion at
Singapore Human Resources Institute (SHRI) costs S$685.
A three-day course on Effective Budgeting - A Strategic
Approach, at Singapore Institute of Management (SIM) costs
S$1,081.50. A three-day course on Corporate Social Responsibility
(CSR) at NUS Business School costs S$2,300.
Apart from short courses, several top schools also offer MBA
and Phd programs. They include Nanyang Technological University
and Chicago GSB Asia Campus.
A full-time MBA program usually runs for 16 months, with
school fees raging from S$24,000 to S$40,000, depending on the
school.
Generally, most short-term executive training providers
exclude the cost of accommodation and food from the training
course.
For practical reasons, most international participants of
short training courses prefer to stay in a hotel. The price of
hotel depends of the class. An average medium-class hotel costs
around S$200 per day, with other costs estimated at S$40 per day.
Staying in an apartment by sharing a room with a colleague is
one of the popular options for participants of a long-term
course. Staying in an apartment will cost you about S$100 per
day.
Benefits
While prospective participants of short or long-term courses
are required to prepare an estimated budget before traveling to
Singapore, those who are attending or have completed their course
are able to share their learning experience in the country.
For Indonesians, for example, in addition to international
standard curricula, attending a training course or studying in
Singapore is economical because Singapore is close to Indonesia.
"Thanks to the proximity, we spend less money on air fares,
compared to when attending the same course in another university
in a Western country," said Bina Nusantara University's manager
for performance and career management Yosafat M. Hutagalung, who
took a four-day training course on Allen Management Leadership at
Singapore Institute of Management (SIM) recently.
The training methods contributed to the enhancement of
participants' professional and managerial skills considering that
the course was practice-oriented. "We spend more time on practice
during the training session. In this case, we were supposed to
play a role as a team leader based on the concept developed by
Louis Allen, founder of Louis Allen Associates," he said.
The methods ranged from interactive workshops and role-playing
to experiential learning like team building activities, he said.
Others highlighted diversity of participants in terms of
nationality and professional background as the plus factor.
Dharma Suryaputra, general manager for the marketing division
at Jakarta-based PT Star Cosmos, who is currently taking an MBA
program at Chicago GSB Asia Campus, said that the school provided
an excellent platform for networking as more than 50 percent of
the participants were from outside Singapore.
"Aside from learning from lecturers and textbooks, we can also
gain worthwhile information from our friends (other like-minded
executives) through the exchange of experiences, views and ideas
based on the respective case study," he said, adding that the
school's system allowed him to attend the MBA program while
retaining his current job.
The lectures have benefited him much in terms of his
profession. Marketing strategy concepts that he received, for
instance, were worth acquiring even though some modifications
were needed when applied to the Indonesian context, he said.
There has been an increasing awareness amongst Indonesia's
professionals and executives about Singapore's corporate
education programs, according to Singapore Tourism Board's
education service division's manager Selene Ng Lin Ying.