Low Fertility Rate

Written Report beginning fullness grade Written Report Justin Koh Zhi-ren MGMT003 B Jothi Rai & S ,G look Li 6Ying G9 G Jamie downwind Yaling Prep atomic number 18d For Professor Er Jwee run into Genevive Chan Keng Ling Prepared By Yong Yi Wee ChiaDaryl Linus Lee Zhi Siong Jian Song, Eric Darren Teng Tze Shang USINESS OVERNMENT OCIETY ROUP Tackling The Problem Of grim rankness Rates In capital of capital of capital of Singapore Author(s) Lim Tze-En, Jamien Oh Wei Liang, Peter Wang Xiao Group squad 3991 1 G13 Word Count (excluding content page and references) 3947 Report for applause by Written Report unhopeful Fertility Rates gameboard of Contents 1. 0 Introduction .. .. 3 2. 1 Overview .. 3 2. 2 Definitions 3 2. 2. 1 entirety impressiveness place .. . . 3 2. 2. 2 Population aging 3 2. 3 Reasons for falling affluence rank .. 3 2. 3. 1 Lack of frugal means to elevation a child .. 3 2. 3. 2 Lack of social means to raise a child 4 2. 3. 3 Environmental factors . . 4 2. 4 Impact of falling fertility place 5 2. 4. 1 frugal consequences .. 5 2. 4. 2 Social consequences 6 . 0 Issue summary .. 3 3. 0 4. 0 Stakeholder analysis 6 synopsis and valuation of organization actions .. 7 4. 1 4. 2 4. 3 Parent-? targeted initiatives 7 in-migration initiatives . 10 Promoting Marriage .. 10 frugal measures 12 Social measures . 13 Environmental measures 13 5. 0 Recommendations . 12 5. 1 5. 2 5. 3 6. 0 8. 0 9. 0 Limitations .. 13 Appendix .. 15 References .. 16 2 7. 0 Conclusion .. 14 Written Report crushed Fertility Rates 1. 0 Introduction The aim of this embrace is to probe the existing problem of Singapores low fertility ramble. By delving into its root causes and potency consequences, we hope to effectively evaluate the measures that the Singapore government has taken to tackle this critical issue, while proposing some practical recommendations. However, as no panacea is without side effects, we get out also highlight the limitations to our proposals. 2. 0Issue Analysis 2. 1 Overview consort to The Straits Times on 18 January 2011, Singapores baby shortfall worsened last year when the Total Fertility Rate (TFR) sank to a historic low of 1. 16. That is slew from 1. 22 in 2009, and way below the replacement level of 2. 1 (Li, 2011). Declining fertility rates is one of Singapore greatest challenges, bringing with it both economic and social impact. In addition, it is also a key-? contributing factor towards Singapores inescapable ageing population. 2. 2 Definitions 2. 2. 1 Total Fertility Rate A populations total fertility rate refers to the average number of hildren that would be born per female, if all females live through with(predicate) their childbearing years of 15-? 49 and bear children according to a devoted set of age-? specific fertility rates. (Ministry Of Community Development, Youth & Sports, 2010) 2. 2. 2 senescence Population Ageing population refers to a situation where an growth in number of cured, and a decrease in number of newborn babies pick out to a shift in the median age distribution of a population. 2. 3 Reasons for falling fertility rates 2. 3. 1 Lack of economic means to raise a child High direct salute of raising a child 3 Written Report Low Fertility Rates The asic cost of raising a child in Singapore include the be of pregnancy and delivery, infant care, child care and education. Besides, on that point are other additional living allowances as well as the possible extra holiday trips that aim to be considered. A report by The Sunday Times (2010, as cited in 1 one million million million to, 2010) estimated that the cost of raising 2 children in Singapore is about $1 million. These high costs act as a stay for couples to arouse children in Singapore, resulting in low fertility rates. Late entry into draw force callable to field service The mandatory two-? year national service delays theSingaporean males entry into the work force, delaying his a bility to sustain a family till a later age. Since couples usually seek pecuniary stability before they start a family, this has caused couples to delay their plans to subscribe children, in that respectby contributing to lower fertility rates. Other economic commitments The high costs of living in Singapore currently take up a large portion of the monthly income of Singaporeans. Coupled with the rising property prices and costs of owning a car, there is less incentive for couples to start a family, since having children would completely add to their financial lode. 2. 3. Lack of social means to raise a child Long on the job(p)s hours The high variant levels and long working hours in Singapore necessitate been proven by many studies. According to an article Dont blame wish by the internationalist Labor Organization (2010), workers in Singapore clocked the most number of working hours per week among twelve nations in the survey. Such a phenomenon lowers fertility rates si nce couples might feel that they would not be able to care for their children due to long working hours. Both parties in work force The gross phenomenon that both husbands and wives hold full-? time jobs also directly affects ouples forgetingness to raise children. hammer stress endured by both parties leaves little time and energy for childcare and couples might be more hesitant when making a conclusiveness to reserve children. 2. 3. 3 Environmental factors Large influx of immigrants In hunting lodge to cope with the declining population, Singapore has developed a sound immigration insurance policy to attract the work force necessary to grow our economy. As of 2010, slightly 35 of every 100 people living in Singapore are PRs, or contradictoryers 4 Written Report Low Fertility Rates on work permits or study visas (Department Of Statistics Singapore, 2011). Many f these non-? citizens can be viewed as transient residents with no intention of remittal down permanently in Sing apore. While no official studies have been carried out, it is postulated that the fertility rate of these non-? citizens is much lower than that of Singapore citizens, pulling down our national fertility rate as a whole (Chong Lee Ming, 2009). Influence from western shade As a cosmopolitan city, Singaporeans have also been greatly influenced by western culture. The westernized new age culture of cohabitation in place of marriage has taken root with the younger genesis of Singaporeans. Hence, ithout the bond of marriage, the traditional view of having children in a family is gradually irrigate down. Increasing focus on hedonism With increasing emphasis placed on consumerism, the younger multiplication of Singaporeans has become more interested in move material goods and pleasures for oneself instead of spending efforts on fostering relationships. As a result, children, in their opinion, are more likely to be a job than a gift, as was in traditional cultures. 2. 4 Impacts 2. 4. 1 Economic consequences Tapering of economic growth While a low fertility rate does not have a direct impact on the economy, ts impact can be felt over the long term. Children are the work force for tomorrow, and given the situation of a declining fertility rate over the past 2 decades, there has been a shrinking citizen force back force, as more citizens are reaching retirement age without match new entrants, stifling economic growth. Dwindling supply of local hands The low fertility rate will lead to a lack of young talent in the future, and result in a massive imbalance in the human resource market. The average age of the men in Singapore will also consequently development, and the older generation might be encouraged to elay their retirement. Moreover, the lack of employees may force companies to increase staff workload, thereby increasing their burden. High dependency on foreign talent 5 Written Report Low Fertility Rates Due to the lack of young local talent, businesses would need to rely on immigrants to ensure that the economic system functions smoothly. These companies may be forced to increase employee salaries and improve perks, in order to attract foreign job applicants, lead story to an increase in staffing costs. 2. 4. 2 Social consequences Increased financial burden With a smaller younger generation supporting the ncreasing number of old dependents, there will be a greater strain on government welfare schemes and taxpayers resources. The increased demand for healthcare facilities might needfully result in rising healthcare costs. More stress and chronic working hours Due to the possible shortfall in employees, companies might need to increase employee workload and extend working hours to sustain productivity. This might thusly create another social problem, where a higher level of stress and longer working hours lead to a weakening of family ties or hold fast between married couples. This might act as a deterrent for ouples to have children, and further exacerbate the issue of low fertility rates. Dilution of local culture due to immigration As we place a greater reliance on immigration to sustain the population in Singapore, theres a possibility that the huge proportion of immigrants will greatly alter Singapore culture, and gradually dilute the traditional values of our society. 3. 0 Stakeholder analysis The stakeholders in this issue can be defined in the following diagram th Source Bucholtz , Carroll Business and Society 7 edition, Chapter 3, pg85 6 Written Report Low Fertility Rates say-so childbearing Singaporean ouples (Dominant Stakeholder) This group has legitimacy and causality. Only they have the power to alter the fertility rate in Singapore. They have legitimacy, as they will form part of the ageing population in the future. However, they would not have importunity as they might feel that other priorities should take antecedence instead of procreation. The current Singaporean work force (Depend ent Stakeholder) Some elderly might be encouraged to extend their retirement due to the decompress turnover rate of younger people succeeding their jobs. Such consequences will bring both economic and social problems to Singapore. Therefore, hey hold legitimacy and urgency but not power. Potential Immigrants (Dormant Stakeholder) Immigrants could be a possible final result in solving the low fertility rate problem (Cheow Xin Yi, 2011). The potential immigrants have the power to decide whether to immigrate to Singapore and therefore leave to the solution for the low birthrate or not, however they have no urgency and legitimacy as this problem is not of concern to them. government activity (Definitive Stakeholder) The government has legitimacy, urgency and power. Low fertility rate is an issue confront by the state, and it is their job to solve such matters.