For every idea, there’s a 3P strategy - Singapore
RAINMAKING: Mr Kua says EDB’s 3P approach involves looking at an idea’s potential, plan and proof.
PREDICTING the future is exciting business - and listening is the key to getting it right. This is the philosophy of the Economic Development Board’s (EDB’s) new business unit director, Mr Jonathan Kua - an EDB ‘rainmaker’.
‘We listen to conversations from all over the world and constantly evaluate these ideas to determine if they are suitable for Singapore,’ he said.
EDB’s business unit, set up by EDB chairman Lim Siong Guan a year ago, is the ’structural expression’ of EDB’s mission to create the best jobs for Singapore. And this involves adopting a futuristic perspective on things, said Mr Kua.
Robots, for instance, are not common now but he believes they will dominate homes in a few years’ time. Thus, he is keeping an eye on the industry, which he views as a possible future growth strategy for Singapore.
The 36-year-old, who has worked at EDB for 12 years, said ‘there is no such thing as a typical day’ for EDB officers.
‘Our work changes every day, whether it is thinking up new industries, making them happen or putting the right people in touch with each other,’ he added.
EDB has a ‘rainmaking process’ where for every idea, they have a ‘3P’ strategy, he said. ‘The three questions we ask ourselves are very Singaporean: Got potential? Got plan? Got proof?’ said Mr Kua.
‘We get our ideas from things we read, conversations we have, people we meet. If we think there’s potential, we have 90 days to think up a plan. And then the hardest part is proving that the ideas can work.’
Since its inception, the team has been hard at work building new industries, said Mr Kua. ‘These jobs are ready for Singaporeans today as a result, and we hope to grow them further.’
EDB recently announced a record-setting $16.1 billion worth of fixed asset investment in Singapore’s manufacturing sector last year, which saw a record 28,600 jobs created.
Source : Straits Times - 28 Jan 2008
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