"A Government Can Run Like a Corporation and Fulfill Stakeholder Expectations." Do You Agree? (Use Singapore as an Example.)

Topics: Temasek Holdings, Economics, Corporation Pages: 4 (1483 words) Published: March 31, 2013
"A government can run like a corporation and fulfill stakeholder expectations." Do you agree? (Use Singapore as an example.) Modern day corporations have not just an obligation to its bottom line but they are accountable towards the stakeholders as well. The accountability is even greater in the context of a country as the purpose of the government is to serve these stakeholders, mainly its citizens who put them there through voting power and the businesses which generate economic wealth for the country. Singapore Incorporated is one of the many names given to the affluent South East Asian state that runs its country like a profit making entity, driving remarkable growth through virtues of a private corporation, efficiency and competition. One of the main challenges the Singapore government faces is managing its goal of economic progression while fulfilling stakeholder expectations to ensure political survivability and that its responsibilities as a government to the people are discharged. There are definitely advantages and disadvantages to running a country in a corporate manner but the key is if it is possible to take actions to address stakeholders in the midst of a profit-making agenda and perhaps if it is easier to do so in a corporate governance setting. A key characteristic and purpose of a corporation is its profit-making bottom line. Singapore has consistently achieved positive economic growth in the last few decades to become one of the most affluent countries in the world. Such growth can be best achieved by the profit making mentality of a corporation. A country that is in growth is definitely better off than a country that is in recession. Singapore has a GDP of $326.8 billion dollars in 2011. With such wealth, the country will not be constraint by the lack of financial resources to fulfil stakeholder’s obligations. It is better equipped to protect its market stakeholders during times of economic instability as well. During the 2009 global...
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