AS Singapore marked its 51st birthday in August with a big bash at the National Stadium, the nation collectively reminisced its journey from being a small fishing village to becoming a bustling cosmopolitan garden city-state, a veritable global hub for industry, business, finance and communications.

Singapore's growth journey is an impressive one. Although it is a small island with limited natural resources of its own, the Republic now ranks first in terms of network readiness, ease of doing business, healthcare and communication systems. Its steady and growing GDP (gross domestic product) has set a fine example of balance between competitiveness and continued growth.

As businesses navigate the challenges of a rapidly-evolving market and technology landscape, it is important to plan ahead so they can keep up with the competition.