The medical industry today has transformed in recent years as a result of the inclining demography scale. This has led the government to rethink of the country’s healthcare expenditures whether they are able to meet with the demand to the health and medical industry (Group 2011). Pinnacle hospital is structured with a holistic healthcare features that will be establish with the most advance technologies and high standard of service to patients, locals and overseas. Moving towards the growing ageing populations, the main emphasize will be on enforcing of the health awareness of the public. 2. Objective
The team objective is to identify the future knowledge workers role and skills requirement so as to be a successful workers in future 2020. 3. PESTEL Analysis in year 2020
In analysing the external environment, the team has applied using the PESTEL tool to analyse each of the components of the external environment and identify the changes that will be establish in 2020. 3.1) Political factors
In 2020, the government will be spending approximately $10 million per year on healthcare. Higher subsidies granted to lower-income families with illness. Furthermore, the government have also planned to ramp up the infrastructure and manpower by recruiting 20,000 healthcare workers and 3,700 hospital beds, creating more jobs opening (HSA 2007-2011). Government will also look into working closely with private hospital on bed leasing (source: MOH healthcare 2020 Masterplan). 3.2) Economic factors
Population will increase, hence, the standard of living will increase as well. The government remains stable and provides strong support in funding capitals to healthcare sector that attracts more foreigners to opt for medical advice in Singapore and higher recruitment (Channelnewsasia, 2013).
Issues such as more ageing population in 2020, with over 25% of its population above the age of 65 years old, parallel to several other developed countries...
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