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The year has seen MAS adopting a more rigorous corporate planning process
to effectively and efficiently develop department workplans, and align
resource planning and allocation with its corporate priorities. The process
began with an external environment scan to identify the trends, opportunities and
driving forces in Singapore's financial sector, and an internal stock-take of our
organisational development efforts. MAS' business and organisational priorities
for the year ahead were eveloped from these environmental scans.
To respond to the dynamic and fast-changing external environment, MAS'
business priorities for FY2001/2002 focuses on four aspects: building
horizontals, further liberalisation, industry promotion and attracting
market players. These priorities were disseminated and shared with MAS'
staff members at a seminar in February.
These priorities include the development
of a talent pool of skilled and innovative financial specialists, and a robust,
progressive and efficient market infrastructure. Growing a talent pool
involves co-operation with the industry to establish a framework of strategies
to attract and develop both local and foreign talent. Efficient infrastructure
will extend Singapore's geographical reach, lower business costs and risks,
increase market liquidity and help make Singapore a critical node in the global
network of electronic finance. Other facets of these priorities include greater
promotion initiatives to cultivate and attract both large specialised and small
niche financial players, and encourage current industry participants to grasp
opportunities, enhance competitiveness, and become significant regional players.
Internally, MAS will continue its efforts to build a cohesive and integrated
organisation. This entails creating a more fluid and flexible organisational
structure, developing a culture of greater openness and enterprise, and building
leadership at all levels. These efforts have already begun with the introduction of
departmental retreats and Team Learning Workshops which aim to introduce
Learning Organisation frameworks and tools, build esprit de corp amongst staff
and provide a forum for discussing organisational issues.
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