Business Futures

Description

This subject is designed to give students a broad overview of the complexity of the global business environment. Students gain an understanding of how changes in the context of the business environment affect strategic decision making and managerial processes. Understanding business and management in context engages students to appreciate the interrelationships between the economical, environmental, social, technological, political, legal and regulatory frameworks and how these influence the organisational capability to innovate and compete successfully in the future. Students are encouraged to explore the business context of wicked problems and contemporary business challenges, ethical dilemmas and sustainability issues in different industry settings.

Subject objectives

Upon successful completion of this subject students should be able to:

1. explain the connections between and impacts on strategic management and innovation processes of social, technological, economic and environmental changes

2. discuss the relationship between international, national or regional institutions and systems and their impacts on business practices

3. contrast key dimensions of major economic systems and their relationship to government policy and the business regulatory environment

4. develop managerial capabilities in preparing and making business decisions and differing business practices in a challenging business context

This subject also contributes specifically to the following program learning objectives:

Demonstrate inter-relationships between differing business disciplines (1.2)

Apply critical and creative thinking to address issues in business (2.3)

Demonstrate an awareness of conflicting ethical demands of various stakeholders within business and related professional environments (4.1)

Evaluate business responses to ethical issues and dilemmas (4.2)

Critically analyse the core professional obligations, values and operations of organisations, including sustainability (4.3)

Contribution to the development of graduate attributes

This subject builds on the students? knowledge of the external business environment. It provides an opportunity to further develop and deepen the understanding of contemporary issues and how they affect business decision-making and the ability to innovate. Students develop analytical thinking, critical thinking, and problem-based learning skills for addressing wicked problems and industry issues in complex and dynamic business settings.

Content

Wicked problems and complexity

Strategic uncertainty

Globalisation and global business

International trade

Industry analysis

Scenario planning

Sustainable business development

Workplaces of the future

Business environments of the future

Strategic innovation

Socially responsible business

Assessment

Assessment task 1: Report (Individual)

Objective(s):

This addresses subject learning objective(s):

1, 2 and 3

This addresses program learning objectives(s):

1.2, 2.3, 4.1, 4.2 and 4.3

Weight: 40%

Assessment task 2: Research project (Group)

Objective(s):

This addresses subject learning objective(s):

1 and 4

Weight: 30%

Assessment task 3: Final Exam (Individual)

Objective(s):

This addresses subject learning objective(s):

1, 2, 3 and 4

Weight: 30%

Minimum requirements

Students must achieve at least 50% of the subject?s total marks.