SG7001 Managing Strategy & Operations and Partnerships Assignment Sample 2024
Evaluation of Risks and Opportunities
Huge megatrends and technical progress have contributed to an increase in spending that will shape the industry, the environment, and culture in the years ahead. Stockholders may be involved in these particular drivers of change in their early stages, and as these simultaneous developments emerge, certain benefits and risks may emerge in the enterprise. By the meaning of the term “megatrend,” it is a transition event that is projected to have a major influence on business and society. Megatrends help an organization remain competitive over time and keep consumers involved in doing business with them. They will help recognize the risks and challenges that the business will encounter in the real by taking full advantage of current and planned megatrends, as well as discover possibilities to shift the environment and gain a competitive advantage, by staying ahead of ongoing and anticipated drivers of change.
| Megatrend | Issues affecting organization | Impact and implication |
| Industry 4 | Confidentiality, security, energy, and safety are some of the topics that concern the enterprise when it implements strategies of industry 4. | Capital is the most significant investment a firm can generate in technical advancement, and it can be costly, denigrate the organization, and have an effect on its activities trading activity expense. (Maresova et al., 2018).
The company operates in a collaborative environment in which the maker is supposed to conduct research, which can be perceived as a threat to proponents’ well-being, leading to a negative perception of the company. Even though this is a cultural change, such barriers can be expensive to a company’s bottom line.IT security flaws will pave the way for data theft and unauthorized access through a variety of means. As a result, businesses could suffer reputational damage as well as an adverse societal profile. |
| Sustainability | The variability of the population, tight regulations, the availability of raw materials and their costs, and public opinion are all big concerns in terms of sustainable development. | As a result of these big concerns, adverse impacts on the developing economy may be anticipated, creating new business challenges. These issues have a direct impact on the firm’s reputation because the entire textile industry relies on pigments and other additives that need a source of water (Desore, 2018). And apart from current cognitive impairment, the business faces transition difficulties as a result of society’s response to environmental issues, such as economies and regulation, as well as technological developments that could increase consumer prices while imperiling potential perceived value performance levels. |
References
Atelier https://chiang-mai-clothing.com/ Accessed on 12 March 2021
Desore, A. and Narula, S.A., 2018. An overview on corporate response towards sustainability issues in textile industry. Environment, Development and Sustainability, 20(4), pp.1439-1459.
Industry 4.0- Megatrends < https://www.k3syspro.com/advice-centre/erp-advice/industry-4-0-megatrends/> 12 March 2021.
Maresova, P., Soukal, I., Svobodova, L., Hedvicakova, M., Javanmardi, E., Selamat, A. and Krejcar, O., 2018. Consequences of industry 4.0 in business and economics. Economies, 6(3), p.46.
Megatrends – Investing in the industries of the future that will impact our lives, businesses and the world https://catanacapital.com/blog/megatrends-investing-industries-of-future/ Accessed on 12 March 2021.
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