BUSS1000 Notes .docx - Week 1 Introduction Megatrends...

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Week 1: Introduction Megatrends Megatrends (John Naisbitt) are large, transformative processes with “global reach, broad scope, and a fundamental and dramatic impact” (‘Introduction’, 2017). Types of Megatrends: Impactful Technologies Impactful technologies are broad based from artificial learning to cloud and quantum computing. However, they possess significant challenges from cybersecurity and privacy, to rising inequality. Evolving Communities Demographic and social change will see governments and business finding huge opportunities as well as facing huge challenges, as the largest generation in history, millennials (1980-1995) drive the economy. Rapid Urbanisation Whilst urbanisation creates huge opportunities for smart, eco-cities, there are significant challenges that come with different types of urbanisation: tremendous demands on infrastructure, provision of services and job creation. E.g. New York, Beijing, Shanghai and London will need $8 trillion in infrastructure investments. Empowered Individuals Social platforms have changed the way people communicate, interact and organise their lives. There is an increasing expectation for experience rather than consumption, personalisation and customisation in everything we do. However, it will vary across different geographical regions. Economic Power Shift This captures the rise of new centres of economic activity in developing world countries. Whilst, economic power shifts have brought many gains, they have also been associated with patterns of economic loss, and used to bolster forms of protectionism and nationalism, with large potential consequences for business, individuals and communities. Resource Security This captures the increasing pressure on environmental resources including food, water, energy and mineral resources. We require over 60 critical materials for wind and solar fuel generation, lighting etc. but increasing demand along with rate nature of these materials can lead to critical shortfalls.
Wicked Problems Complex social and policy problems Wicked issue highly resistant to resolution Wicked problems are different to Megatrends, but are in many ways products of Megatrends Examples of Wicked Problems: Water and food shortage Youth unemployment Population growth Poverty Climate change Inequality Global security Week 2: Role of Business in Society
Stakeholders An organisation or “a person such as an employee, customer or citizen who is involved with an organisation, society, etc. and therefore has responsibilities towards it and an interest in its success.” Owners (e.g. investors, shareholders, agents, analysts, and rating agencies) Customers (e.g. direct customers, indirect customers and advocates) Employees (e.g. current employees, potential employees, retirees, representatives and dependents) Industry (e.g. suppliers, competitors, industry associations, industry opinion leaders, and media) Community (e.g. residents near company facilities, chambers of commerce, resident

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