BUSS1000 BUSS1000 – THE FUTURE OF BUSINESS WEEK 1: Wicked Problems: complex social and policy problems • E.g. water and food shortages, youth UE, pop growth, poverty, climate change, inequality, global security etc. • Many orgs look to solve these problems o Climate Action Network of Australia à advocate for a better climate change awareness o Bill and Melinda Gates Foundation à curing easily preventable diseases o Tesla à electric motor vehicles to reduce carbon emissions • Limitations: o Complex o Stakeholders/shareholders o Manifestations of bigger social trends and shifts MEGATRENDS John Naisbitt: large, transformative processes with global reach, broad scope, and a fundamental and dramatic impact à direct link to Wicked problems • Evolving communities o World pop 7.5b 2016 à 10b 2050 o 2015-2100 growth generation from Asia to Africa o Millennials are largest generation in history à will continue to happen o 8% world pop over 65 in 2015 à 13% by 2030 • Rapid urbanisation o 2% world pop in cities 1800 à 54% by 2015, 61% by 2030 o 750 biggest cities (of 4146) contribute 57% global GDP o 1.5m per week join cities • Empowered individuals o 400m connected in 2000, 3.2b 2015 o Social media o Rise in experiential consumption o $5.67tr in socially responsible investments in 2014 • Economic power shift o Emerging economies 33% of world total 2015 à 50% by 2025 o Emerging economies grow 75% faster than developed o By 2030, 80% world pop in middle class o 2030 E7 > G7 purchasing power • Resource security o World Economic Forum (WEF) identifies water as #1 risk o Energy consumption to increase by 35% by 2035 o Clean energy materials at critical levels o Life critical phosphorous to peak by 2050 o 50% increase required in global food production by 2050 • Impactful technologies o 90% of world’s data created in the last 4 years o 75% of stock trades today created by algorithm o 1 trillion objects connected by 2025 o Artificial intelligence 4:1
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BUSS1000 BUSS1000 – THE FUTURE OF BUSINESS · • Economic power shift ... , Fairtrade purchases (e.g. Cadbury) ... § Supplier Power: • No. suppliers • Size of suppliers
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o ClimateActionNetworkofAustraliaàadvocateforabetterclimatechangeawarenesso BillandMelindaGatesFoundationàcuringeasilypreventablediseaseso Teslaàelectricmotorvehiclestoreducecarbonemissions
o Whyanorganisationexistso Understandingofwhatleaderswanttheorgtobecomeo Providescontextforalldecisionsw/inorganisationo Guidingthedevelopmentofstrategy+organisation
o Critiques:Ethicsofspendingshareholderfundsonventuresunrelatedtoprofitability• CreatingSharedValue(CSV):drivingmutuallybeneficialchange,reconceivingproductsandmarketsàdrive
o Marketisdifficulttoenter(saturated,strongcompetitors(oligopoly))• Suppliers:existingagreementsw/orgsàmediumtolowpower• Buyers:switchingcosts,loyalfollowers,costofgame+consoleàhighpower• Substitution:externalfirmsetc.àmediumtohighpower