SG7001 Managing Strategy Operations and Partnerships
Activity 2: An evaluation of opportunities and threats posed by megatrends
| Megatrend | Key issues affecting the organization | Impact and Implication |
| Artificial Intelligence | ● Major companies across the world are using AI in automobile production, as it has grabbed the ultimate attention of the customers in a sustainable way.
|
AI-driven tools can improve productivity as well as promote competitive advantages (Pagliaro, 2019).
The implication of AI depends on the practitioners’ knowledge of the technologies driven by AI. However, it can be obtained by providing adequate training regarding the knowledge about the AI software’s utilization to the employees (ghabbourauto.com, 2019). |
| Data analytics of Big data and ecological aspects maintenance | ● The organizational staffs have etiquette knowledge about data analytics, and it also has been enhanced by proper training
● The cost of data analytics technologies are very high, which gets sponsored by stakeholders.
● Potential legislation to reduce carbon emission, such as Climate Change Act 2008 has been reinforced the ecological aspects maintenance |
The data analytics tools can be helpful for analyzing the data which can be helpful for increasing customer satisfaction (Kalaitzi et al. 2021). The managers of Ghabbour Auto should provide training to the employees regarding the use of data analysis tools which can lead to organizational growth (ghabbourauto.com, 2021).
However, educating the employees about the sustainability of environment is also another concern of implementing ecological aspects maintenance |
| Internet of Things | ● The growing trend of IoT among automobile producers, and increasing demand of people for IoT.
● Chance of cyber crime prevails in IoT-driven technologies. |
As the IoT-driven tools can automate the business processes, the tools can also disrupt a business process if the knowledge of the tools is not properly gained (Linthorst and de Waal, 2020). Therefore, it can have a big impact on the business, though the rising trend for IoT can boost the engagement of customers. The managers of Ghabbour Auto should provide training to the employees regarding the usage of IoT-driven tools which can enhance the productivity as well as efficiency of the organization, along with withdrawing the potentiality of breaches. |
| Block chain | ● In the competitive market segment the companies under the automobile sectors are using block chain networks which are verified and encrypted using a cryptographic algorithm.
● As per the view of Malik and Janowska (2018), “by eliminating the centralized system, block chain provides a transparent and secure way of recording transactions”, which has been widely used by organizations across the world. |
The security will be enhanced and it will help to support the engagement of customers in a sustainable way. The sales rate can be boosted, and it can be implemented by cryptographic algorithm. |
Table 1: An evaluation of opportunities and threats posed by megatrends
(Source: Influenced by Malik and Janowska, 2018)
Reference
ghabbourauto.com (2021), Home, page, available at: http://www.ghabbourauto.com/ [accessed 9th July, 2021]
Kalaitzi, D., Matopoulos, A., Fornasiero, R., Sardesai, S., Barros, A.C., Balech, S. and Muerza, V., 2021. Megatrends and trends shaping supply chain innovation. In Next generation supply chains (pp. 3-34). Springer, Cham.
Linthorst, J. and de Waal, A., 2020. Megatrends and Disruptors and Their Postulated Impact on Organizations. Sustainability, 12(20), p.8740.
Malik, R. and Janowska, A.A., 2018. Megatrends and their use in economic analyses of contemporary challenges in the world economy. Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu, (523), pp.209-220.
Pagliaro, M., 2019. An industry in transition: The chemical industry and the megatrends driving its forthcoming transformation. Angewandte Chemie International Edition, 58(33), pp.11154-11159.
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