BUSS1000 Entire Course Notes - BUSS1000 | Future of...

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BUSS1000 | Future of Business Lecture 1: An Introduction and Introducing Problems Wicked Problems Complex social/policy problems - an issue highly resistant to resolution Organisations looking to solve wicked problems include - Climate Action Network of Australia - Bill and Melinda Gates Foundation - Tesla Examples: Water and food shortages, youth unemployment, population growth, poverty, climate change, inequality, global security Limitations of talking about Wicked Problems Complex and big – but are a fixed target People and organisations work to solve problems – typically while focused on one Manifestations of bigger social trends and shifts so we need a way of conceptualising them (megatrends) Megatrends Large, transformative processes with ‘global reach, broad scope, and a fundamental and dramatic impact’ Broader in scope as they focus on shift and change rather than a fixed target Australian and Global Levels Direct linkages to the Wicked Problems (some overlap) Six specific megatrends discussed: Evolving Communities Rapid Urbanisation Empowered Individuals Economic Power Shift Resource Security Impactful Technologies Impactful Technology 90% of world’s data created in the last 4 years 75% of stock trades today created by algorithm 1 trillion objects connected by 2025 Artificial intelligence 4:1 wins in GO (game) in 2016 Empowered Individuals 400m connected in 2000, 3.2b in 2015 Always on, anywhere, personalised nature of social media Rise in experiential consumption $5.67tr in socially responsible investments in 2014 Resource Security WEF (World Economic Forum) identifies water crisis at #1 risk Energy consumption to increase by 35% by 2035 Clean energy materials at critical levels Life critical phosphorous will peak by 2050 50% increase required in global food production by 2050
BUSS1000 | Future of Business Evolving Communities World population 7.5b in 2016, 10b in 2050 2015-2100 growth generation from Asia to Africa Millennials are the largest generation in history 8% of world’s population over 65 in 2015, 13% by 2030 Economic Power Shif Emerging economies 33% of world total in 2015, 50% by 2025 Emerging economies grow 75% faster than developed economies By 2030, 80% of world population in middle class 2030 EF>G7 purchasing power Rapid Urbanisation 2% of world population in cities in 1800, 54% in 2015, 61% by 2030 750 biggest cities (of 4,146) contribute 57% of global GDP 1.5m per week join cities Why are we talking about Megatrends? For business, and in turn you, these represent - Challenges - Opportunities Megatrends will define the world We don’t know what the world will look like in 50 years - However, we do know what Megatrends are shaping our world Lecture 2: The nature, role and purpose of business Definitions Organisation : a group who work together in an organised way for a shared purpose Company : an organisation that sells goods or services to make money Corporation : a company or group of companies controlled as a single organisation Business: a company that buys and sells goods and services Stakeholder:

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