SBF Launches MAP Initiative to Provide Guided Transformation Journey for Wholesale and Retail Trade
Thursday, 1 April 2021 [Singapore] – The Singapore Business Federation (SBF) has launched a new initiative named MAP, to systematically guide our members in their business transformation journey.
For the pilot run, the MAP initiative is open to SBF members in the Wholesale and Retail Trade sectors, as well as those looking to pivot their business into these sectors to seize new opportunities. The MAP initiative will provide businesses with guided assistance and position them for recovery and growth post COVID-19.
These sectors, which have been severely affected by a significant fall in demand due to the COVID-19 pandemic, represent almost a quarter of all SBF members (24.73 percent, or 6,485 members).
Supported by the DesignSingapore Council (Dsg), GIC, Infocomm Media Development Authority (IMDA), Institute for Human Resource Professionals (IHRP), Korn Ferry, Singapore Polytechnic (SP), SkillsFuture Singapore (SSG), Singapore Institute of Management (SIM) and The Thought Collective, the pilot run is expected to benefit at least 500 companies in 2021.
The MAP initiative comprises three stages:
a) Mindset change – SBF will help participating companies appreciate that the post-COVID world necessitates a change in mindset and new ways of conducting business.
b) Analysis of business potential – With the assistance of SBF and our partner agencies, companies can identify, streamline, and address problem statements to unlock potential growth and boost productivity.
c) Pathway assignment – Companies will be guided and can embark on best-fit programmes under SBF or our partner agencies that match their strategic objectives.
The MAP initiative, which is designed to offer a modular approach focusing on capability building and business transformation, provides businesses with the required support in the following ways:
a) Companies can invest their resources on recovery and growth instead of expending valuable resources to find the most relevant programmes for their businesses
b) Companies facing different business challenges, including in digitalisation, talent development, process redesign, and internationalisation, can be assisted through webinars, small group workshops, and pathway assignments
c) Companies can provide feedback at the end of each stage before being channelled to the most suitable programme based on their requirements
d) Companies have the flexibility to stay on or depart at the end of every stage
e) Companies that meet the criteria set by SBF and/or the partner agencies will be eligible for funding support, which will be awarded at the sole discretion of SBF or its partner agencies at every stage
Mr Lam Yi Young, CEO of SBF, said, “The MAP initiative helps our members in the Wholesale and Retail Trade sectors to overcome challenges and seize new opportunities, addressing both their immediate business needs and long-term strategic goals. Through the initiative, companies in these sectors can identify and explore relevant operational solutions and review their strategic plans for business transformation. We encourage interested companies to sign up for the pilot programme early and embark on their transformation journey.”
Please refer to Annex A for quotes from selected partner agencies and Annex B for infographic of the MAP Initiative.
Interested SBF members may sign up for the MAP initiative by 30 April 2021. Each company can register up to two senior management representatives.