More Degree Options for Singapore’s Retail Industry
Nanyang Polytechnic launches joint degree with Stirling University

Singapore-: More degree options are in store for polytechnic students who wish to pursue further education in retail marketing.

Come September 2008, Nanyang Polytechnic (NYP) will be jointly launching a degree in Retail Marketing with the University of Stirling. This is the third degree programme approved by the Ministry of Education under the Poly-Foreign Specialised Institutes initiative to help polytechnic students gain access to more degree programmes in niche areas.

A Memorandum of Agreement signing ceremony was held today to mark this latest partnership. Guest-of-Honour Mr Tharman Shanmugaratnam, Minister for Finance and Minister for Education, witnessed the ceremony.

NYP’s Strength in Retail Marketing Training
The retail industry is a thriving sector with a Gross Domestic Product of $3.7 billion*. In the next five years, the industry will create more than 10,000 jobs with mega projects and investments such as the Orchard Turn and the Integrated Resorts in 2011**. Against this backdrop, there is a need to develop more professionals with the relevant skills and knowledge. The BA (Hons) in Retail Marketing will help fill this gap and address the need for more executive professionals in the industry. The degree, which targets polytechnic business diploma holders, will position retail as a choice career.

Through its School of Business Management, NYP has been providing training in retail studies since 1995. In 2006, NYP established the Singapore Institute of Retail Studies (SIRS) together with the Workforce Development Agency of Singapore. SIRS has since been a lead provider of manpower training for the retail industry.

With its track record and reputation in retail training, NYP is well-positioned to prepare the next generation of retail professionals to support Singapore’s goal to be a global retail destination.

Mr Chan Lee Mun, Principal & CEO of NYP, said: “We are pleased to collaborate with the University of Stirling to develop and build new capabilities for the retail industry. The programme affirms our emphasis on providing continuing education opportunities for polytechnic graduates through tie-ups with foreign universities.”

The programme will be jointly taught by the retail and marketing team of NYP’s School of Business Management and faculty staff from the University.

University of Stirling – A Choice Partner
The University of Stirling is a reputable institution recognised for its teaching and research, and quality of programmes. It has a well-established retail management programme and the presence of its Institute of Retail Studies (IRS) adds to its retail expertise and capabilities.

The IRS has many years of association and experience with Singapore’s retail industry, and is widely known to practitioners in the retail business in Singapore, Malaysia, Thailand, Australia and Japan. The IRS is also one of Europe's largest university-based retail institutes and has developed a reputation for offering a range of high quality education and training programmes to the retail sector as well as undertaking research of an international standard.

Professor Christine Hallett, Principal & Vice-Chancellor of Stirling University, added: “The University of Stirling is at the forefront of research and learning that shapes the world at a local, national and international level. Working with academic, commercial, public, private and voluntary sector partners we are one of the UK’s leading research universities in the fields of health and well-being, the environment, culture and society, enterprise and the economy, and sport. The University was selected for this partnership due to its status as a world leader in retail education. The Institute for Retail Studies (IRS) has a long association with Singapore dating back to 1989, including close links with the Singapore Retailers Association and The Retail Academy of Singapore. IRS is now one of Europe's largest University based retail institutes and has developed a reputation for offering a range of high quality education and training programmes to the retail sector as well as undertaking research of an international standard.”

Overseas Exchange
One of the special features of this degree programme allows students to opt to complete part of their studies at the University campus in Stirling, UK. Similarly, students from the Stirling home campus may also choose to complete part of the degree in Singapore. This arrangement will enhance the global outlook of students in the programme, and prepare them to work more effectively in global economies.

Intake
The programme will have an initial intake of 40 students per year. It is open to holders of relevant Polytechnic Diplomas or other suitable qualifications. Successful candidates will gain direct entry into the third year of the programme. The first batch of graduands is expected to enter the workforce in two years’ time.

Released on 18 January 2008

* Source: Workforce Development Agency Website>Job Opportunities & Prospects 2005
** Source: Workforce Development Agency Website>Speech by Minister of Manpower at Official
Opening of SIRS on 20 March 2007