HRM357: The objective of this assignment is to explore the impact of the external environment on the workforce: Workforce Planning Tutor-Marked Assignment, SUSS, Singapore

I. Task
The objective of this assignment is to explore the impact of the external environment on the workforce planning approach and processes within a selected organisation operating within the ITM (Industry Transformation Map) advanced manufacturing and trade cluster. As mentioned in the news article, manufacturing contributes 22% to 2021 of Singapore’s GDP.

This assignment requires recent and current secondary research on the appropriate government initiatives in growing the economy in ensuring manpower needs for different industries are taken care of, and at the same time, building a workforce with the relevant skills for each industry.

For this assignment, you are required to:
Research and select a company, with operations in Singapore, in any ONE (1) of the Advanced Manufacturing and Trade ITM (Industry Transformation Map) clusters.
(1) Describe the profile of the selected company.
• Nature of business
• Geographical presence
• Overall business strategy
• Major competitors
• Annual revenue/turnover and employee headcount
• Product life cycle/Industry life cycle
• The ITM cluster the company is in

(2) For the industry the selected company operates in, identify, and discuss TWO (2) external factors mentioned in the news article which will influence its business strategy and workforce planning.

(3) Given the two external factors discussed in (2), evaluate the appropriate and specific ITM initiatives to help workers and how these initiatives impact the selected company’s work force planning.

(4) Formulate a workforce planning framework that the company can adopt with considerations from your discussions in (1), (2) & (3). Support your framework with research evidence and details of each planning process, examples of the forecasting tools to be used and possible action plans.

(5) Formatting and writing