Essay writing guidelines

This course requires you to write short essays for every weekly module. These essays, or mini written responses, are designed to test your understanding of the course content and your ability to critically engage with the material by considering real-world scenarios and problems. They are also designed to test your ability to write clearly about the themes, issues, and theories covered in the modules.

These essays form a large portion of your overall grade, and your writing will need to adhere to the minimum and maximum length requirements. It is therefore important that you write clearly and succinctly. This guidebook will show you how to:

Plan your written response;

Structure your essay effectively;

Consult rubrics for guidance; and

Reference sources correctly.

Planning your written response

In planning your essay its important to first analyse the question, then outline your response by means of a mind map, and finally create a thesis statement, as explained in the sections to follow.

Analyse the question

Before writing your response, it is important to consider the question being asked, as you need to ensure your answer reflects what is being asked of you. One way to do this is to find the task word being used. For example, you may be asked the following question:

Applying the information covered in this module, compare the difference between China and Americas responses to trade liberalisation in the 21st century.

In this example, the task word is compare. As a result, your answer requires you to examine the differences between America and Chinas response to trade liberalisation in the 21st century and compare their responses with examples.

Other task words that may be used include discuss, examine, identify, contrast, analyse, evaluate, propose, assess, articulate, and investigate.

Outline your response

Once you have established what is being asked of you, the next step is to plan your written response. One method of approaching this is to sketch out a quick mind map of your ideas. This mind map should also include evidence that you will use to support your claims.

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Figure 1: Creating a mind map or rough outline is a good way to plan your essay before you begin to write.

Create a thesis statement

Having created an outline or mind map, you should now have an idea of your thesis statement. A thesis statement is a sentence (or two) that summarises the main point you will be making throughout your written response. It should directly address the question and show your marker that you have a clear argument or point. For example, based on the previous example question, the thesis statement may be as follows:

While China and America have both embraced trade liberalisation in the 21st century, China is adopting policies that encourage greater trade liberalisation, and America, under Donald Trump, is considering adopting protectionist policies.

The above thesis statement clearly addresses the question by comparing China and Americas trade policies in the 21st century. It also expresses the writers argument, which will be expanded upon in the body of the essay.

Structure your essay

Once youve planned your essay, you are ready to begin writing. A well-crafted essay should always be broken down into an introduction, a body, and a conclusion.

Introduction

Your introduction sets the stage for the rest of your essay and should be written in an interesting and appealing way that will encourage your reader to engage with your written assignment. The introduction should:

Briefly introduce the context of the essay;

Redefine the problem being addressed; and

Include your thesis statement.

Body

The body of your essay will explore your argument in greater detail by providing sub-points that support your argument as well as evidence to back up your claims. You should also logically break up the body of your essay into well-defined paragraphs. Each paragraph should include the following:

A topic sentence that summarises the main point of the paragraph. This sentence should support or contribute to your main thesis statement.

The topic sentence should then be followed by supporting evidence from your own research that backs up your claims.

The paragraph should end with an explanatory sentence that shows your reader how the paragraph links to your main argument.

Conclusion

Every written assignment should finish with a clearly written conclusion. The conclusion should summarise your main argument and illustrate how you have proven your thesis statement.

MODULE 7 UNIT 2

Adapting to disruptive change in the 21st century

2021 LSE

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Table of contents

Introduction3Business in the 21st century3The second machine age3From global to local5Drivers of change6The changing nature of business and work9New occupations9Changing nature of work10Creating innovation hubs11Managing change12Disruptive innovation12Response strategies13Beat the competition13Join the competition13Outlast the competition14The requirements of 21st century leadership15Sustainable leadership15Conclusion16Bibliography16Learning outcomes:

LO2: Identify the drivers of disruptive change and the challenges they present to organisations.

LO3: Interpret the importance of responding and adapting to disruptive change from an organisational perspective.

Learning outcomes:

LO2: Identify the drivers of disruptive change and the challenges they present to organisations.

LO3: Interpret the importance of responding and adapting to disruptive change from an organisational perspective.

Introduction

Technological innovations which, 20 years ago, were considered the exclusive domain of science fiction novels have steadily entered the real world. Self-driving cars, 3D printing, and intelligent and autonomous robots have become a reality and they are changing the way business is run. This has the potential to increase productivity on a scale only comparable to the introduction of electricity and its transformative effect on manufacturing capabilities at the turn of the 20th century. At the same time, some technological changes such as the growing use of fossil fuel energy throughout the world pose complex environmental challenges.

This set of notes explores the drivers of disruptive change that are reshaping the way business is conducted in the 21st century. You will be introduced to some of the leading academic research on the way technology is transforming the nature of work and business in the modern world, and will unpack how business leaders can meet these challenges. To do this, these notes investigate how business and public sector organisations should respond and adapt to change by reflecting on the rise of disruptive innovation and the skills 21st century leaders need to develop in an ever-changing business world.

Business in the 21st century

The way business is conducted in the 21st century will profoundly change due to rapid technological innovation. The next sections will examine some of the leading research on business and work in the 21st century.

The second machine age

Leading academics and industry experts have, for many years, argued that technology is fundamentally changing the way business is conducted in the 21st century. Professor Erik Brynjolfsson and scientist Andrew McAfee, for example, have conducted extensive research into the relationship between technological innovation and economic growth. They argue that the world is currently undergoing the second machine age an era when automation allows for the substitution of many cognitive tasks previously performed by humans (Brynjolfsson & McAfee, 2014b).

This has allowed corporations and business owners access to sophisticated, yet inexpensive, technology that performs tasks at a fraction of the cost of human labour, and often with greater precision. What is unique about this era is that while increases in

productivity have historically gone hand in hand with increases in wages, this new era has resulted in a great decoupling of productivity and wages, where productivity has dramatically risen while wages have dropped substantially (Brynjolfsson, 2013). Some argue that this has dire implications for business and will lead to the end of growth. Brynjolfsson and McAfee (2011), however, believe that by racing with the machine and by harnessing the collective skills of both man and machine, the 21st century is full of opportunities for innovation, growth, and entrepreneurship. Watch Video 1 in which Professor Erik Brynjolfsson outlines his vision of the future of work and the key to growth.

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Video 1: The key to growth is harnessing the collective power of humans and machines. (Source: https://www.youtube.com/watch?v=sod-eJBf9Y0)

Brynjolfsson makes clear that the future of work will significantly change as artificially intelligent machines develop the cognitive capacity to make better decisions. Machines, therefore, threaten to substitute rather than compliment human labour. He also makes clear that this is the result of three important technological changes that have reshaped work. These changes are exponential, digital, and combinatorial (Ted Talks, 2013). In an interview with the Harvard Business Review, Brynjolfsson and McAfee make clear that the second machine age has brought its own challenges and growing pains and the future trajectory of economic development is uncertain (Bernstein & Raman, 2015). In this new era:

Theres never been a better time to be a worker with special technological skills or education. Those people can create and capture value. However, its not a great time to have only ordinary skills. Computers and robots are learning many basic skills at an extraordinary pace.

(Bernstein & Raman, 2015)

Those who can harness the power of machines, adapt their business models, and take advantage of the combined skills of humans and machines will have a far better chance of

success in this second machine age than those who resist the powerful force of technological change.

1153795156845Explore further:

The relationship between man and machine has evolved since Professor Brynjolfssons discussion in 2013. The nature of work has also seen some significant developments since the COVID-19 pandemic began, as large groups of the global workforce had to engage in remote work, and rely heavily on the rapid advancements in technology such as digital communications, and the internet. Learn more about how AI and automation have influenced the creation of hybrid workforces and the future of work.

00Explore further:

From global to local

How will automation and greater use of robots change the global economy? Finbarr Livesey, a lecturer in public policy at the University of Cambridge, has done extensive research about current globalisation trends and has outlined his findings in his 2017 book From Global to Local: The Making of Things and the End of Globalisation. Livesey argues that the old logic of global trade liberalisation is being challenged as machines supplant cheap labour in the 21st century. Important technological developments, changes in consumer behaviour, growing feelings of nationalism, and environmental constraints are having an important impact on the nature of global trade. Livesey argues that this will most likely mean a return to regional and local production as companies no longer seek cheap labour in distant locations. Instead, production will increasingly be happening in local and regional contexts and will need a highly skilled labour force to maintain and operate sophisticated technology and machinery (See Modules 1 and 2 on trade and factors of production). In this context, Livesey suggests that international trade is likely to continue, but that there will be a greater emphasis on regional rather than global trade (Kirkus, 2017).

To support this thesis, Livesey points to several important shifts in the global economy that indicate this change:

The ratio of global trade to global GDP has fallen since the 2008 crash.

FDI flows are still below their pre-2008 financial crisis levels, and future FDI growth remains uncertain.

In many sectors, manufacturing is becoming localised as automation makes local production in industrialised economies cheaper.

Global politics has taken a nationalistic turn that promotes local production.

(Livesey, 2017)

Like Brynjolfsson and McAfee, Livesey finds that it is hard to predict the exact trajectory of globalisation. Nevertheless, he suggests that the countries and companies that can see

through the confusion and manage a local structure effectively will be the ones that will come out best once the dust settles (Livesey, 2017).

1153795156845Alternative perspective:

In a review of Liveseys book, Jeffrey D. Sachs, a professor at Columbia University and a director of the UN Sustainable Development Solutions Network, provides a critique of Liveseys work. He argues that fixed production costs will not disappear entirely, shipping costs may easily fall rather than rise, and nationalist rhetoric may not translate into policy changes. Read his full critique, which outlines why globalisation may not be at an end.

00Alternative perspective:

Drivers of change

Technological change is likely to be exponential in the 21st century and business will need to adapt accordingly. While not all technological developments have the power to dramatically reshape society, researchers at McKinsey point out some truly do have the potential to disrupt the status quo, alter the way people live and work, and rearrange value pools (Manyika et al., 2013:1). It is the responsibility of business leaders and policymakers to understand these important drivers of change to plan for the future. McKinsey has identified 12 technologies that may significantly change the dynamics of the global economy. Artificial intelligence (AI) alone is estimated to have the potential to produce additional global economic activity of about $13 trillion by 2030, which would amount to a 16 per cent higher cumulative GDP compared to 2018 (Bughin et al., 2018). Figure 1 illustrates these 12 technologies.

Figure 1: The 12 technologies with the potential to reshape the global economy, as identified by McKinsey. (Source: Manyika et al., 2013:4)

Engage further:

Having reviewed the 12 disruptive technologies that will reshape society, answer Poll 1.

Poll 1: Which technology, as identified by McKinsey, is most likely to directly reshape the industry you currently work in? (Access this set of notes on the Online Campus to participate in the poll and view your peers responses.)

Engage further:

Having reviewed the 12 disruptive technologies that will reshape society, answer Poll 1.

Meeting the challenge of disruptive change

These 12 technologies all share 4 common themes, namely:

They are all experiencing rapid breakthroughs;

They potentially have a broad impact;

They have the potential to have a significant economic impact; and

Their economic impact will potentially be disruptive, changing the status quo.

(Manyika et al., 2013:1-2)

It is, therefore, imperative that individuals, governments, and businesses prepare for these changes to direct their energy and investment in the right direction. In this environment:

Businesses will need to strategically invest in education and infrastructure;

Businesses will need to understand how technology is reshaping their comparative advantage;

Governments will need to protect citizens from disruption; and

Policymakers will need to learn how to manage disruptive change and new technological developments.

(Manyika et al., 2013:1)

While change can be threatening, resisting new technologies and failing to adapt to the changing business landscape may make current market offerings obsolete. In this context, leaders will need to be more aware and agile to harness the potential for growth and innovation these disruptive technologies represent.

1150620153670Adapting to the 21st century:

In the 21st century, companies will be required to adopt and embrace technological change more than ever before. Geoff Colvin, Senior Editor at Fortune, argues that the US company Tesla, co-founded by the engineer and inventor Elon Musk, is one such company that has built its success on technological innovation in the motor industry. However, the Tesla Model S, a battery-powered car, burst into flames on two occasions in 2013. This presented a huge business risk for Tesla as the company faced a safety investigation. Under traditional circumstances, the entire fleet would have to be recalled and repairs made across the country to correct the design error. However, having made use of special software, Tesla was able to correct the error remotely. By making use of technology and designing its products for the modern age, the company could recover rapidly from a potentially disastrous problem, renewing faith in the Tesla brand (Colvin, 2015). If you would like to find out more about the requirements of 21st century corporations, watch Geoff Colvins video, which unpacks why every aspect of business is about to change in the 21st century.

00Adapting to the 21st century:

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With the ever-evolving nature of technology, a number of companies are reforming to adapt to the changing conditions of the 21st century. Learn more about how organisations are adapting to change in the 21st century, and why it is important for companies to learn how to thrive in a radically different world.00Explore further:

The changing nature of business and work

New disruptive forces are also reshaping traditional work structures and occupations. The following sections will explore some of these changes.

New occupations

The way business is conducted and the nature of work in the 21st century is different to that of the 20th century. History has shown that technological developments have not only created new jobs but also entirely new industries. For example, following the invention of the magnetic resonance imaging (MRI) machine in 1974, new skilled jobs were created to manage and maintain this new machinery. As a result, occupations such as MRI special procedures technologists were created (Frey & Osborne, 2015:63). Similarly, the invention of the personal computer led to the creation of more than 1,500 new job titles. Research in the US has shown that these occupations employed highly skilled labour whose wages were on average twice the US median wage (Frey & Osborne, 2015:63). Countries with

access to highly skilled labour are, therefore, at an advantage in the 21st century when it comes to adopting novel technologies.

Changing nature of work

The rapidly changing business landscape makes it difficult to predict the nature of work in the 21st century. Disruptive forces such as automation, cybersecurity threats, and climate change are forcing governments and the private sector to rethink the nature of work. For example, climate change will force corporations in many sectors to transform their existing business models and supply chains to make their operations more environmentally sustainable. This pressure will increase as governments and civil society increasingly expect the private sector to take a leading role in the fight against global warming. Professor Weber of the Kellogg School of Management argues that companies already face comprehensive pressure to take a more proactive role in the fight against global warming; [e]veryone will have to adjust. The question is whether they innovate at the core of their business or limit themselves to quick fixes and actions at the margins. (Calvert, 2019). Much of this impact will adversely affect business and society, though some impacts also create new opportunities. For instance, a move towards wind power in America has created 75,000 jobs, while changing weather patterns in South Dakota have allowed farmers to expand their crops switching from wheat to corn production (Robinson, 2013).

Cybersecurity threats will also become a growing concern within the private sector as valuable information is increasingly stored digitally and transmitted via the internet. New processes will need to be established, and providing the necessary staff training will become a priority to equip staff with the adequate skills to protect firms against cyberattacks and hacking. Industry research confirms that there is a major skills gap in the cybersecurity industry so much so that the cybersecurity unemployment rate was zero percent in 2016, and that 3.5 million unfilled cybersecurity positions are predicted by 2021 (Morgan, 2018). This disruptive force is also impacting senior management, as companies become aware of the need for Chief Information Security Officers (CISOs), whose responsibility it will be to ensure the protection of a businesss valuable digital assets. Rapid advances in technology means there is, and will be, a severe shortage of skilled cybersecurity professionals for the foreseeable future.

In addition to this, automation has the potential to transform the nature of work by making certain jobs redundant. Nevertheless, it is important to remember that it can also create new industries, jobs, services, and goods. The World Economic Forum estimates that by 2022, 75 million current job roles may be displaced by the growing use of new technologies such as AI and robotics, while 133 million new job roles may emerge at the same time. In some areas, such as logistics, office and administration, and transport, low-skilled jobs are likely to be the first to disappear from the job market. On the other hand, the jobs that appear to be at least risk are those that require creative or social skills which are not easily replicable via automation. This is because machines do not yet have the soft skills such as negotiation, persuasion, or ideation (Frey & Osborne, 2015:59). Figure 2 illustrates some of the low-risk sectors that are less likely to be affected by disruptive change, though further technological innovation in the future may change the situation.

Figure 2: Sectors that require soft skills and creative thinking are least at risk of automation. (Source: Frey & Osborne, 2015:59)

This research raises an important point about the nature of work in the 21st century. It suggests that as low-skilled jobs are steadily automated and new high-skilled jobs created, employers are going to have to invest in further training and development to provide their employees with the necessary skills to navigate the future world of work (Frey & Osborne, 2015:61). Climate change and cybersecurity threats may also see new jobs being created as businesses respond to meet the challenges of these disruptive forces.

Creating innovation hubs

Another trend that has emerged in the 21st century is the creation of innovation hubs most famously the thriving entrepreneurial area of Silicon Valley in America. Enrico Morettis research has revealed that, despite the possibility for remote work, geography still matters as skilled labour forces tend to be concentrated in cities with thriving entrepreneurial businesses. Job-hopping is another common trend as employees leave companies to start their own ventures in the same area. This has made Silicon Valley the home of Facebook, Google, and eBay, while companies like Dropbox, Uber, and Twitter are all based in San Francisco (Frey & Osborne, 2015:64). What this suggests is that the digital revolution has enabled the creation of several technology hubs. Cities that do not adapt to the 21st century economy risk falling behind in the new economic race for talent (Frey & Osborne, 2015:64).

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Managing change

Rapid changes in the business landscape have caused some panic within the business community as senior leaders worry that their business may be blindsided and pushed out of the market by disruptive competition. But as Joshua Gans (2016:83) points out in the MIT Sloan Management Review, what is particularly disturbing in the 21st century is that even when a company does everything right it remains vulnerable to competition from unexpected sources. The following sections will explore how companies manage this dilemma.

Disruptive innovation

One of the leading thinkers on managing disruptive change within business is Harvard Business School Professor Clayton Christensen, who developed what he termed disruption theory or disruptive innovation. Video 2 is an interview with Professor Christensen in which he outlines disruption theory and explains how some companies have changed their business models to manage disruptive competition.

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Video 2: Companies need to understand disruption theory to navigate the future. (Source: https://www.youtube.com/watch?time_continue=460&v=qDrMAzCHFUU)

There are two important characteristics that disruptive technologies share. First, disruptive technologies tend to initially underperform and are not able to serve most of the consumer market. Nevertheless, there is sufficient demand for there to be a market opening. Second, disruptive technologies tend to develop in ways that meet new needs, which has the potential to create new demand. These changes happen so rapidly that the existing market leaders who do not innovate find they are too late to respond effectively as the disruptive technology dominates the market (Gans, 2016:83-84). In Video 2, Professor Christensen outlines this dilemma and briefly examines how this dilemma occurred in the Asian motor

industry. He highlights the need for responsive leaders who can use theoretical insights and empirical data to make better decisions about the future. In a world of rapid change, history may not offer a reliable guide to future trends. Those companies that are not prepared to innovate and reassess the market (which could potentially entail abandoning old business models or consumer markets) may be at risk of becoming irrelevant.

1153795155575Further reading:

Christensen recognises that it is difficult to foresee which new companies and disruptive technologies are likely to be a threat. Chris Larson, from the HBX Business Blog, outlines four key principles of disruptive innovation that help business leaders identify potential competition within the marketplace.

00Further reading:

Response strategies

In his research on business in the 21st century, Joshua Gans (2016:84) argues that several companies have been able to remain relevant either by investing in new innovations after they have entered the market or by acquiring new entrants, effectively absorbing the competition. He suggests that there are three strategies businesses can use to overcome the threat of competitors who initially seem marginal but then go on to rapidly gain market share. These three methods will be explored in the following sections.

Beat the competition

Because it is difficult to predict if and when a disruptive technology will gain market share, one method of addressing a rapidly growing disruptive technology in a market is to aggressively invest in the new technology rather than trying to make improvements to the old one. This is generally a viable option for market leaders that have enough resources to invest in a new technology, which allows them to exert some control over the evolution of the disruptive technology (Gans, 2016:85). An example of this is Microsofts heavy investment in Internet Explorer in the 1990s, which eventually gained traction and alleviated the threat of Netscape Navigator. As a result, Internet Explorer remains a dominant player while Netscape Navigator has been discontinued (Gans, 2016:85-86).

Join the competition

If a company does not want to actively oppose or compete against a new market entrant or a new disruptive technology, an alternative approach would be to acquire the competition. An example of this is Seagate Technologies acquisition of Conner Peripherals, which was producing 3.5-inch disk drives in the 1990s. This acquisition was successful because Conners 3.5-inch drives proved to be more popular than Seagates 5.25-inch drives. The acquisition, therefore, allowed Seagate to continue to be a market leader (Gans, 2016:86).

One of the advantages of this approach is that a company can wait until the technology becomes a threat before acquiring it, rather than investing large amounts of capital into a potentially redundant technology. There are also mutual advantages to this approach. On the one hand, the market leader, realising that they may be threatened in the future, can neutralize the threat (Gans, 2016:86). On the other hand, the new market entrant,

although aware that they have a superior product may recognise that joining their competition and avoiding a period of aggressive competition is valuable to growth (Gans, 2016:86). Nevertheless, the cost of integration, for example, the administrative cost of merging the business operations, may prove too high, which makes cooperation a less advantageous approach.

Importantly, if acquisition is chosen, it is vital for a company purchasing a new technology to integrate this technology into their existing structures, which will prevent other new market entrants from bringing further disruption. Gans clearly illustrates this point:

For an acquisition to be effective, incumbents must have capabilities that allow them to integrate entrants properly. Specifically, they need to use the acquisition as an opportunity to develop the disruptive technology further and not suppress it. Just buying something and putting it on the shelf will not stop and may even encourage other disruptive entrants.

(Gans, 2016:89)

Importantly, existing market leaders should not resist the new technology but should invest sufficient resources to improve their existing model and embrace the value created by the new disruptive technology.

Outlast the competition

The last approach to disruptive technologies is to wait out the disruption while enhancing an existing product in areas that the disruptive technology fails to address. By doing this, established companies can develop in a certain direction, meet a need within the market, and create value in ways that the disruptive technology is unable to (Gans, 2016:88). An example of this is Mergenthaler Linotype Companys ownership of fonts in the typesetting industry. While new entrants disrupted the market, the fact is they did not own the font types major customers such as newspapers and publishing houses required to retain the style of their brand (Gans, 2016:88).

Gans identified three methods of addressing the threat of disruptive technologies: to either beat, join, or outlast the competition. In addition, he suggests there may be a fourth approach to managing disruptive change. Reflecting on Facebooks acquisition of Instagram and WhatsApp in 2012 and 2014 respectively, he argues that Facebooks deliberate decision not to integrate these two technologies into Facebook could be a fourth approach. By allowing both companies to operate within their existing structures, Facebook bought an option to control future competition and reduced the cost of integration, which could have made cooperation an unattractive option. Facebook therefore has the option to control the direction of these disruptive technologies and no longer risks being in direct competition with them (Gans, 2016:89).

Further reading:

The rapid advancement of technology has led to many new developments and innovations being introduced in various areas of society, business, and industry. This has led to the introduction of new trends that not only change the way we engage with each other, but also with the technology itself. Explore these examples of some of the most disruptive technologies being used and developed.Further reading:

The requirements of 21st century leadership

Applying these approaches to disruptive technologies requires a new type of leader that can navigate the complex modern business environment of the 21st century. Video 3 is a clip featuring Rasmus Hougaard who elaborates on what aspects leaders will have to focus on, while dealing with the challenges of the 21st century.

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Video 3: Leaders of the 21st century. (Source: https://www.youtube.com/watch?v=Fl61CYDNd1g)Hougaard mentions that leaders need to focus on mindfulness, selflessness, and compassion. With these focus areas, the way in which leaders empower other people are brought forward. However, it is also important to note that leaders need to lean on a supportive network of peers to manage the scale of change in the 21st century as the dynamics of business become global, more integrated, and complex. As a result, relying on outdated business practices for the 20th century may leave senior leaders blind-sided by rapid changes.

Sustainable leadership

While Barton has identified some important qualities leaders in the 21st century will need to possess, further leadership qualities are required in an age where environmental and sustainability issues determine the future of long-term growth. In an interview with

members of the World Business Council for Sustainable Development, The Guardian journalist Jenny Purt asked several members what qualities future leaders needed to develop to manage the sustainability challenges of the future. These qualities include:

Being motivated by personal values rather than purely financial gains;

Fostering mediation skills to facilitate the sharing of knowledge and ensuring stakeholder ownership;

Rooting a companys vision in ethical community-oriented behaviour; and

Applying economic, moral, and political incentives to effectively incorporate sustainable development.

(Purt, 2012)

In a rapidly changing world whose environmental resources are coming under increasing pressure, leaders of both large and small organisations need to consider the long-term impact of their business models. Thinking along these lines will assist in adapting business models to the needs of the 21st century. Making these changes now will also ensure that businesses are better prepared for a future where organisations with unsustainable business models face growing demands from governments, consumers, and civil society to change their behaviour.

Conclusion

Disruption is a defining feature of the 21st century as new sophisticated technologies, previously unimagined, become integrated into day-to-day life. This requires new skills, more adaptive leadership, and innovative business models. Those leaders that remain complacent risk being left behind as more innovative and responsive companies set the pace and standards of the 21st century.

This set of notes has illustrated the changing nature of work in the 21st century as disruptive forces create new occupations and makes others redundant. While some organisations and individuals may feel threatened by these changes, those who can manage disruptive innovation effectively by developing the skills needed in the 21st century will have a strong chance of taking advantage of the opportunities these disruptive forces present.

Bibliography

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Morgan, S. 2018. Top 5 cybersecurity jobs that will pay $200,000 to $500,000 in 2019.

Available: https://cybersecurityventures.com/career-news/ [2019, May 26].

MSCI. 2020. Disruptive Technology: Innovation meets society and business. Available: https://www.msci.com/documents/1296102/17292317/ThematicIndex-Disruptive- Technology.pdf/2d71a34f-87f0-c8f2-e357-0c237e8861bf?t=1589294780209 [2021, January 15].

Oltskik, J. 2020. The cybersecurity skills shortage is getting worse. Available: https://www.csoonline.com/article/3571734/the-cybersecurity-skills-shortage-is- getting-worse.html [2021, January 15].

Palihapitiya, C. & Manyika, J. 2013. Managing disruptive technology: A conversation with investor Chamath Palihapitiya. Available: http://www.mckinsey.com/industries/high-tech/our-insights/managing-disruptive- technology-a-conversation-with-investor-chamath-palihapitiya [2017, September

7].

Purt, J. 2012. What qualities do future leaders need to meet the challenges of the 21st century? Available: https://www.theguardian.com/sustainable-business/future- leaders-sustainability-21st-century [2017, September 8].

Robinson, E. 2013. Geography at risk: Threats and opportunities. Available: https://www.bloomberg.com/graphics/infographics/climate-change-threats-and- opportunities.html [2017, October 12].

Sachs, J. 2017. End of globalization? Maybe, maybe not. Available: http://www.imf.org/external/pubs/ft/fandd/2017/09/book2.htm [2017, September

6].

Ted Talks. 2013. Erik Brynjolfsson: The key to growth? Race with the machines [Video file]. Available: https://www.youtube.com/watch?v=sod-eJBf9Y0 [2017, September 4].

The British Academy. 2018. Reforming Business for the 21st Century. Available: https://www.thebritishacademy.ac.uk/documents/76/Reforming-Business-for- 21st-Century-British-Academy.pdf [2021, January 15].

MODULE 7 UNIT 3

Presentation transcript

2021 LSE

789305104076500

Table of contents

Introduction3Climate change3Economic dimensions and business risks3Social dimensions4Political dimensions4Global free-rider problem5Political uncertainty5Possible solutions5Global governance and management5Cybersecurity threats6Economic dimensions6Social dimensions7Political dimensions7Global governance and management7Managing cybersecurity8Automation8Economic dimensions8Social dimensions8Political dimensions9Global governance and management9Conclusion10Bibliography10Learning outcomes:

LO4: Articulate the social, economic, and political impact of climate change, cybersecurity threats and automation on the global economy.

LO5: Illustrate the ways in which disruptive forces are governed and managed in the global landscape.

Learning outcomes:

LO4: Articulate the social, economic, and political impact of climate change, cybersecurity threats and automation on the global economy.

LO5: Illustrate the ways in which disruptive forces are governed and managed in the global landscape.

Introduction

Disruptive forces are reshaping the way business is conducted in the 21st century. This presentation will focus on three disruptive forces, namely climate change, cybersecurity threats, and automation. You will explore the economic, social, and political dimensions surrounding each of these disruptive forces and the ways in which they are being managed and governed at a global level.

Climate change

The issue of climate change can no longer be ignored as evidence of manmade global warming is mounting. In recent years, limiting future global warming has become one of the highest priorities on the international agenda. The growing use of fossil fuel energy and other economic activities have produced unsustainably high levels of greenhouse gas (GHG) emissions, which have lead to an increase in the average temperature on Earth. Meeting this environmental challenge and reducing GHG emissions needs to be collectively addressed by business, government, and civil society.

Economic dimensions and business risks

Climate change and economic welfare are closely interlinked, particularly in a globalised world. In the Stern Report, it was estimated that severe climate change (an increase of between 36C) could result in economic losses of between 520 per cent of global GDP per annum (Bernauer, 2013:19). For example, increased temperatures will affect agricultural yields, while destructive weather patterns have the potential to destroy major economic assets. The growing threat of climate change to the economy is one important factor that has led governments to collectively agree to reduce their carbon emissions. The change in the politics of climate change will dramatically alter the way business is conducted as low-carbon technology and alternative energy sources will increasingly be integrated into the global economic system.

In a world where investing in high-carbon emitting assets could incur severe economic penalties, businesses face several risks:

Regulatory risks: Government regulations that penalise the use of high-carbon emitting assets threaten the operational and financial viability of a business.

Stranded asset risks: Companies that hold assets that are likely to suffer unanticipated or premature write-downs because of regulatory action or markets shifts face significant financial risks. For example, as alternative energy sources become more accessible and carbon emissions are increasingly regulated, the value of coal and oil may decrease, making investment in these industries risky.

Technological risks: Rapid technological advances may significantly reduce the cost of alternative energy, increasing accessibility. Companies that are not sensitive to this change risk incurring high energy costs.

Market risks: Changes in fossil fuel prices and consumer prices could negatively impact companies with high-carbon assets as drivers of demand, supply, output, and capital expenditure change to adapt to a low-carbon economy.

Reputational risks: Companies that have invested in assets that have high- carbon emissions are in danger of reputational risks, including damage to their public image, brand, and loss of revenue. In some cases, this has caused massive divestment from investors on moral and ethical grounds.

Supply-chain risks: On average, supply chain emissions are four times greater than a companys operational emissions (Climate Disclosure Project, n.d.). Companies need to consider their entire value chain to identify areas that need to become more sustainable.

(Fulton & Weber, 2014:17-20)

Research by the Climate Disclosure Project found that some companies are blind to climate risks in half of their supply chains. Better reporting measurements and open communication between suppliers, customers, and businesses will reduce this risk substantially.

Social dimensions

Climate change issues need to be tackled at all levels of society for the necessary reductions in GHG emissions. It is, therefore, vital to garner public support for climate change mitigation. Research has shown that greater public engagement, both at an individual and organisational level, will increase the likelihood of government commitment to sustainable development (Bernauer, 2013:18).

Climate change also has the potential to increase levels of conflict particularly if resources such as food and water become scarce. While academics disagree on the extent of such climate change-induced violence, former UN Secretary-General Kofi Annan has warned that climate change is becoming a direct threat to international peace and security (Annan, 2006).

Political dimensions

The 2015 Paris Agreement represents the core element of the international climate regime, but political efforts to tackle the climate change problem are taking far longer than desired

(Bernauer, 2013:3; Falkner, 2016). There are several political challenges that hinder climate change efforts, including:

Global free-rider problem

Climate change action has higher costs and benefits for different countries, which has resulted in a lack of consensus among the international community (Bernauer, 2013:4). Bernauer argues that one of the largest problems is the fact that:

large, rich countries with large GHG emissions would have to contribute most to problem-solving. Hence, they experience the largest opportunity costs, but they are likely to suffer least from climate changes because they have a high capacity for adaptation.

(Bernauer, 2013:4) This lack of consensus has stalled collective action substantially.

Political uncertainty

Political uncertainty is another hindrance to climate change mitigation as small businesses, individuals, and large corporations are reluctant to invest in costly adaptation measures if they think future governments will retract the incentive to adopt these measures. This problem extends to the international system where countries are less likely to adopt measures if they feel other countries are likely to abandon them (Bernauer, 2013:5). Political uncertainty, therefore, undermines long-term commitment at the regional and international level.

Possible solutions

One method of solving this issue is to create legally binding climate regulations at the national level that prevent future leaders from abandoning climate change policies in the future.

Encouraging flexibility mechanisms (e.g. carbon trading) allows countries with high GHG emissions to invest in reduction measures in other countries by buying emissions permits. This may increase global participation in climate change initiatives.

Global governance and management

(Bernauer, 2013:8-10).

Responding to the 2015 Paris Agreement and UN sustainable development goals (SDGs), governments are introducing ever more legislation to tackle climate change. As a result, there has been a substantial growth in climate change laws across the globe. The following figures illustrate some of these global changes:

There are over 1,800 climate change laws globally, a 30-fold increase since 1997.

Two thirds of all global climate change court cases have strengthened or upheld climate change regulations.

There has been over 1,500 climate change related lawsuits in May 2020. The largest proportion of these lawsuits are situated within the United States, which has four times as many lawsuits than the rest of the globe. These lawsuits are usually filed by NGOs or individuals to enforce existing climate change agreements.

(Setzer & Byrnes, 2020)

Cybersecurity threats

Cybersecurity is defined as:

The activity or process, ability or capability, or state whereby information and communication systems and the information contained therein are protected from and/or defended against damage, unauthorised use or modification.

(Korff, n.d.)

In a digital world where sensitive information is stored online, it is imperative for individuals, businesses, and the public sector to manage the risk of cyberattacks. This is done through effective reporting, measurement, and the implementation of appropriate security measures.

Economic dimensions

Cyberattacks are increasingly becoming an economic threat. As more value is created through information communication technology (ICT), businesses are at greater risk of cyberattacks. Digitisation also increases the integration of systems, making connected businesses more vulnerable to attacks. If measures are not put in place to protect businesses, this could slow the adoption of new technologies, thereby hindering growth (World Economic Forum, 2017).

One method of improving cybersecurity is to ensure that supply chains are correctly managed. This includes:

Purchasing goods from trusted suppliers;

Separating core business machines from other networks; and

Educating staff and consumers on the importance of protective measures.

(Sharma et al., 2017)

Social dimensions

As more private information is uploaded and stored online, individuals are at greater risk of their private information being hacked, bank accounts accessed, and intellectual property being stolen. Through the use of encryption, ransomware, and phishing, hackers can steal large amounts of personal data and money without proper detection or prosecution.

The digital age has also seen the widespread sharing of information, which has enormous implications for personal privacy. To understand the economic implication of this, read more about the economics of privacy.Political dimensions

Cyberwarfare is defined as

The actions by a nation-state or international organization to attack and attempt to damage another nations computers or information networks throughcomputer viruses or denial-of-service attacks.

(Rand, n.d.)

Cybersecurity has become an increasingly political issue. Instances of cyberwarfare have alerted governments to the fact that their information systems are at risk of attack from other states in ways previously unimagined. For example, Russia has been accused of hacking and denial-of-service (DoS) attacks. This form of warfare is growing steadily in the digital age.

Global governance and management

The internet is a key feature of the global economy. Nevertheless, cyberattacks are not only a concern for business. Research has found that hackers can target the U.S Department of Justice or Iranian nuclear facilities just as easily as they can mine credit card data (Renda, 2013). The rise of hacking and cyberattacks is another reason why governments need to step in to ensure that the appropriate measures are put in place both at a local and international level.

Governments are beginning to take cybersecurity threats more seriously, but the establishment of appropriate regulations varies greatly across the world. For example, America has passed the Cybersecurity Informations Sharing Act (CISA), and has federal cybersecurity regulations that target specific industries, while organisations like the European Union Agency for Network and Information Security (ENISA) have been established in Europe to help govern and protect users in a digital economy.

Find out more about the latest changes to global cybersecurity laws and regulations.Managing cybersecurity

From a business perspective, the management of cybersecurity is a key challenge as threats escalate and new risks constantly emerge requiring quick adaptation (Kaplan & Boehm, 2017b). According to leading cybersecurity experts, companies need to roll out a cybersecurity strategy by:

Identifying the most at-risk business assets and prioritising their protection;

Integrating cybersecurity into larger business governance processes and business risk management;

Creating a culture of cybersecurity within the business;

Uncovering potential threats and mitigating risks proactively; and

Testing cybersecurity measures continuously.

(Kaplan & Boehm, 2017a)

Businesses at risk can make use of the National Institute of Standards and Technology (NIST) cybersecurity framework to better manage and reduce the risk of cyberattacks.

Automation

The use of artificial intelligence (AI), data analytics, and robotics is rapidly increasing as technology improves. As companies adopt such transformative technologies, they not only improve productivity and create new business models but also pose severe challenges to society and the workforce.

Economic dimensions

While the adoption of AI technology is varied between sectors, research finds that early AI adopters that combine strong digital capability with proactive strategies have higher profit margins (Bughin et al., 2017). Not only do their profit margins improve three times faster than their peers, they are the fastest innovators and disruptors in their respective industries (Manyika et al., 2017). This is important as it will widen the gap between early adopters and the rest who may find it harder to catch up to their innovative counterparts.

Social dimensions

Many individuals are threatened by the incorporation of technology such as AI and automation. As a result, the debate about the future of work is often polarised. Some critics argue that automation and AI will have a negative impact on the labour market, while others believe it will create alternative forms of employment and generate growth. In the medium term, it is more likely that AI will be used to complement rather than substitute human work until the technology improves (Manyika et al., 2017).

The question of whether and how to tax new technologies has become an important social issue. Some argue that robots and AI should be taxed in a similar way to human workers. Companies would then be taxed on their levels of automation and use of AI. However, critics argue that this will discourage important innovation, research, and development, which would ultimately hinder economic growth (Rimmer, 2017).

Political dimensions

The fact that robots and AI are entering a wide range of economic sectors and are also increasingly deployed in warfare means new policy and legal frameworks will need to be created. To address these issues, the European Parliaments legal Affairs Committee called for a Charter of Robotics to include ethical dimensions. Among other things, the committee stressed the importance of:

Defining fundamental rights;

Setting up accountability frameworks;

Ensuring safety and privacy; and

Investigating the reversibility of the use of robotics and AI.

Global governance and management

(Rimmer, 2017)

Due to advances in technology, policymakers and governments need to create environments that both encourage innovation and protect individuals from the changes that arise because of innovation.

There are several approaches to managing this change:

Encourage investment in human capital.

Encourage the creation of human jobs that suit the digital age.

Simplify regulations to encourage technology-enabled entrepreneurship.

Increase public-private partnerships that invest in digital infrastructure.

Invest in education, particularly in science, technology, engineering, and mathematics.

Prepare social safety-nets to protect against mass unemployment.

(Manyika et al., 2017)

Business leaders will also need to embrace the changes that AI, analytics, big data, and robotics are making. To do this business leaders need to:

Gain practical knowledge of, and experiment with, new technologies;

Adapt existing business models;

Invest in digital assets; and

Invest in training their workforce to meet the skills gap.

(Manyika et al., 2017) By embracing change, companies are less likely to be caught off guard by new technology.

Conclusion

In a globalised world that is changing rapidly due to various disruptive forces including climate change, cybersecurity threats, and automation it is important for both the private and public sector to adapt and prepare for the future. This presentation has explored some of the economic, social, and political implications of these disruptive forces. It has also explored how they are governed and managed in the global landscape.

Bibliography

Annan, K. 2006. Comments made at UNFCCC conference in Nairobi, 15.11.2006.

Available: http://www.buildingecology.com/articles/climate-change-kofi-annans- comments-in-nairobi/ [2017, September 11].

Bernauer, T. 2013. Climate change politics. Annual Review of Political Science. 16(13):1- 28.

Bluefin. 2017. Global cybersecurity laws and regulation changes in 2017. Available: https://www.bluefin.com/bluefin-news/global-cyber-security-laws-regulation- changes-2017/ [2017, September 12].

Bryce, H. 2017. The internet of things will be even more vulnerable to cyber attacks.

Available: https://www.chathamhouse.org/expert/comment/internet-things-will-be- even-more-vulnerable-cyber-attacks [2017, September 12].

Bughin, J., Hazen, E., Ramaswamy, S., Chui, M., Allas, T., Dahlstrm, Henke, N. & Trench, M. 2017. How artificial intelligence can deliver real value to companies. Available: http://www.mckinsey.com/business-functions/mckinsey-analytics/our- insights/how-artificial-intelligence-can-deliver-real-value-to-companies [2017,

September 12].

Business & Human Rights Resource Centre. n.d. Climate change litigation. Available: https://business-humanrights.org/en/corporate-legal-accountability/special- issues/climate-change-litigation [2017, September 11].

Climate Disclosure Project (CDP). n.d. Supply chain. Available: https://www.cdp.net/en- US/Programmes/Pages/CDP-Supply-Chain.aspx [2017, September 12].

Climate Tracker Initiative. 2017. Carbon tracker initiative why is climate risk disclosure important for investors? [Video file]. Available: https://www.youtube.com/watch?v=aEJJwGmD0U8 [2017, September 11].

Eagan, N. 2017. Cybersecurity is very fast becoming an all-out arms race. Available: http://blogs.lse.ac.uk/businessreview/2017/05/13/nicole-eagan-cybersecurity-is- very-fast-becoming-an-all-out-arms-race/ [2017, September 12].

Earth Institute. 2017. Climate change litigation growing rapidly, says global study.

Available: https://phys.org/news/2017-05-climate-litigation-rapidly-global.html [2017, September 11].

Falkner, R. The Paris Agreement and the new logic of international climate politics. International Affairs 92(5):107-125.

Fulton, M. & Weber, C. 2014. Carbon asset risk: Discussion framework. Available: http://www.unepfi.org/fileadmin/documents/carbon_asset_risk.pdf [2017,

September 11].

Intergovernmental Panel on Climate Change (IPCC). n.d. Reports. Available: http://www.ipcc.ch/publications_and_data/publications_and_data_reports.shtml [2017, September 11].

Kaplan, J & Boehm, J. 2017a. At the core of your cybersecurity strategy: Knowing your capabilities. Available: http://www.mckinsey.com/business-functions/digital- mckinsey/our-insights/digital-blog/at-the-core-of-your-cybersecurity-strategy- knowing-your-capabilities [2017, September 12].

Kaplan, J. & Boehm, J. 2017b. The pitfalls in measuring cybersecurity performance. Available: http://www.mckinsey.com/business-functions/digital-mckinsey/our- insights/digital-blog/the-pitfalls-in-measuring-cybersecurity-performance [2017,

September 12].

Korff, D. n.d. Cyber security definitions a selection. Available: https://www.sbs.ox.ac.uk/cybersecurity- capacity/system/files/CPDP%202015%20-%20KORFF%20Handout%20-%20DK150119.pdf [2017, September 12].

Manyika, J., Chui, M., Madgavkar, A. & Lund, S. 2017. Whats now and next in analytics, AI, and automation. Available: http://www.mckinsey.com/global-themes/digital- disruption/whats-now-and-next-in-analytics-ai-and-automation [2017, September

12].

Rand. n.d. Cyber warfare. Available: https://www.rand.org/topics/cyber-warfare.html [2017, September 12].

Renda, A. 2013. Cybersecurity and internet governance. Available: https://www.cfr.org/councilofcouncils/global_memos/p32414 [2017, September

12].

Rimmer, M. 2017. The wild west of robot law. Available: https://eprints.qut.edu.au/106013/1/The%20Wild%20West%20of%20Robot%20L aw.pdf [2017, September 12].

Setzer, J. & Byrnes, R. 2020. Global trends in climate change litigation: 2020 snapshot. Grantham Research Institute on Climate Change and the Environment. Available: https://www.lse.ac.uk/granthaminstitute/wp-content/uploads/2020/07/Global- trends-in-climate-change-litigation_2020-snapshot.pdf [2020, December 14].

Sharma, S., Takkar, J. & Patel, J. 2017. A survey on supply chain cyber security.

Available: http://www.ijirst.org/articles/SALLTNCSP017.pdf [2017, September 12].World Economic Forum. 2017. Cybersecurity is becoming a worrying economic challenge. Heres what we can do. Available: http://ewn.co.za/2017/07/06/cybersecurity-is-becoming-a-worrying-economic- challenge-here-s-what-we-can-do [2017, September 12].

MODULE 7 UNIT 3

E-Learning activity transcript

2018 LSE

789305104076500

Table of contents

Introduction3Climate change3Economic dimensions and business risks3Social dimensions4Global free-rider problem5Political uncertainty5Possible solutions52.4 Global governance and management5Cybersecurity threats6Economic dimensions6Social dimensions7Political dimensions7Global governance and management7Managing cybersecurity8Automation8Economic dimensions8Social dimensions8Political dimensions9Global governance and management9Conclusion10Bibliography10LO4: Articulate the social, economic, and political impact of climate change, cybersecurity threats and automation on the global economy.

LO5: Illustrate the ways in which disruptive forces are governed and managed in the global landscape.

LO4: Articulate the social, economic, and political impact of climate change, cybersecurity threats and automation on the global economy.

LO5: Illustrate the ways in which disruptive forces are governed and managed in the global landscape.

Introduction

Climate change

Economic dimensions and business risks

In a world where investing in high-carbon emitting assets could incur severe economic penalties, businesses face several risks:

Regulatory risks: Government regulations that penalise the use of high-carbon emitting assets threaten the operational and financial viability of a business.

(Fulton & Weber, 2014:17-20)

Social dimensions

Political dimensions

The 2015 Paris Agreement represents the core element of the international climate regime, but political efforts to tackle the climate change problem are taking far longer than desired

(Bernauer, 2013:3; Falkner, 2016). There are several political challenges that hinder climate change efforts, including:

Global free-rider problem

(GD to create a map of the world. America will have a high thermometer and lots of money, while Africa will have a low thermometer and only marginal capital. Graphic to appear next to text.)

(Bernauer, 2013:4) This lack of consensus has stalled collective action substantially.

Political uncertainty

Possible solutions

One method of solving this issue is to create legally binding climate regulations at the national level that prevent future leaders from abandoning climate change policies in the future.

Global governance and management

(Bernauer, 2013:8-10).

Responding to the 2015 Paris Agreement and UN sustainable development goals (SDGs), governments are introducing ever more legislation to tackle climate change. As a result,

there has been a substantial growth in climate change laws across the globe. The following figures illustrate some of these global changes:

There are over 1,200 climate change laws globally, a 20-fold increase since 1997.

Two thirds of all global climate change court cases have strengthened or upheld climate change regulations.

Climate change-related lawsuits have tripled since 2014. The largest proportion of these lawsuits are situated within the United States, which has three times as many lawsuits than the rest of the globe. These lawsuits are usually filed by NGOs or individuals to enforce existing climate change agreements.

(Grantham Research Institute on Climate Change and the Environment, 2017: Earth

Institute, 2017)

Cybersecurity threats

Cybersecurity is defined as:

(Korff, n.d.)

Economic dimensions

One method of improving cybersecurity is to ensure that supply chains are correctly managed. This includes:

Purchasing goods from trusted suppliers;

Separating core business machines from other networks; and

Educating staff and consumers on the importance of protective measures.

Social dimensions

(Sharma et al., 2017)

Political dimensions

Cyberwarfare is defined as

The actions by a nation-state or international organization to attack and attempt to damage another nations computers or information networks throughcomputer viruses or denial-of-service attacks.

(Rand, n.d.).

Global governance and management

Find out more about the latest changes to global cybersecurity laws and regulations.

Managing cybersecurity

Identifying the most at-risk business assets and prioritising their protection;

Integrating cybersecurity into larger business governance processes and business risk management;

Creating a culture of cybersecurity within the business;

Uncovering potential threats and mitigating risks proactively; and

Testing cybersecurity measures continuously.

(Kaplan & Boehm, 2017a)

Businesses at risk can make use of the National Institute of Standards and Technology (NIST) cybersecurity framework to better manage and reduce the risk of cyberattacks.

Automation

Economic dimensions

Social dimensions

Political dimensions

Defining fundamental rights;

Setting up accountability frameworks;

Ensuring safety and privacy; and

Investigating the reversibility of the use of robotics and AI.

Global governance and management

(Rimmer, 2017).

Due to advances in technology, policymakers and governments need to create environments that both encourage innovation and protect individuals from the changes that arise because of innovation.

There are several approaches to managing this change:

Encourage investment in human capital.

Encourage the creation of human jobs that suit the digital age.

Simplify regulations to encourage technology-enabled entrepreneurship.

Increase public-private partnerships that invest in digital infrastructure.

Invest in education, particularly in science, technology, engineering, and mathematics.

Prepare social safety-nets to protect against mass unemployment.

(Manyika et al., 2017)

Business leaders will also need to embrace the changes that AI, analytics, big data, and robotics are making. To do this business leaders need to:

Gain practical knowledge of, and experiment with, new technologies;

Adapt existing business models;

Invest in digital assets; and

Invest in training their workforce to meet the skills gap.

(Manyika et al., 2017) By embracing change, companies are less likely to be caught off guard by new technology.

Conclusion

Bibliography

Annan, K. 2006. Comments made at UNFCCC conference in Nairobi, 15.11.2006.

Available: http://www.buildingecology.com/articles/climate-change-kofi-annans- comments-in-nairobi/ [2017, September 11].

Bernauer, T. 2013. Climate change politics. Annual Review of Political Science. 16(13):1- 28.

Bluefin. 2017. Global cybersecurity laws and regulation changes in 2017. Available: https://www.bluefin.com/bluefin-news/global-cyber-security-laws-regulation- changes-2017/ [2017, September 12].

Bryce, H. 2017. The internet of things will be even more vulnerable to cyber attacks.

Available: https://www.chathamhouse.org/expert/comment/internet-things-will-be- even-more-vulnerable-cyber-attacks [2017, September 12].

September 12].

Climate Disclosure Project (CDP). n.d. Supply chain. Available: https://www.cdp.net/en- US/Programmes/Pages/CDP-Supply-Chain.aspx [2017, September 12].

Earth Institute. 2017. Climate change litigation growing rapidly, says global study.

Available: https://phys.org/news/2017-05-climate-litigation-rapidly-global.html [2017, September 11].

Falkner, R. The Paris Agreement and the new logic of international climate politics. International Affairs 92(5):107-125.

Fulton, M. & Weber, C. 2014. Carbon asset risk: Discussion framework. Available: http://www.unepfi.org/fileadmin/documents/carbon_asset_risk.pdf [2017,

September 11].

Grantham Research Institute on Climate Change and the Environment. 2017. Global trends in climate change legislation and litigation: 2017 update. Available: http://www.lse.ac.uk/GranthamInstitute/publication/global-trends-in-climate- change-legislation-and-litigation-2017-update/ [2017, September 11].

Intergovernmental Panel on Climate Change (IPCC). n.d. Reports. Available: http://www.ipcc.ch/publications_and_data/publications_and_data_reports.shtml [2017, September 11].

September 12].

12].

Rand. n.d. Cyber warfare. Available: https://www.rand.org/topics/cyber-warfare.html [2017, September 12].

Renda, A. 2013. Cybersecurity and internet governance. Available: https://www.cfr.org/councilofcouncils/global_memos/p32414 [2017, September

12].

Rimmer, M. 2017. The wild west of robot law. Available: https://eprints.qut.edu.au/106013/1/The%20Wild%20West%20of%20Robot%20L aw.pdf [2017, September 12].

Sharma, S., Takkar, J. & Patel, J. 2017. A survey on supply chain cyber security.

Available: http://www.ijirst.org/articles/SALLTNCSP017.pdf [2017, September 12].

World Economic Forum. 2017. Cybersecurity is becoming a worrying economic challenge. Heres what we can do. Available: http://ewn.co.za/2017/07/06/cybersecurity-is-becoming-a-worrying-economic- challenge-here-s-what-we-can-do [2017, September 12].

In the assignment Please:

Use the course material notes and highlight in yellow

Question 7:

Module 7 has addressed the various disruptive forces that are reshaping the way business is conducted in the 21st century. Businesses need to be able to identify and analyse how these disruptive forces are impacting their organisation to mitigate risks and plan for the future. The social, economic, and political impacts of these disruptive forces were covered in this module. You have also been introduced to the ways these disruptive forces are managed and governed internationally.

This assignment requires you to reflect on the impact of disruptive forces from an industry perspective.

1) Choose one of the following disruptive forces:

Climate change

Cybersecurity threats

Automation

Choose Automation as a disruptive force

Industry: You can take any industry

Assess a threat and an opportunity associated with your chosen disruptive force from the perspective of an industry of your choice, by conducting independent research and referring to the content covered in this module.

When writing your essay, you are required to make reference to the course material and any other sources consulted as part of independent research, as indicated in the rubric below. Your submission, excluding in-text citations and list of references, may not exceed 600 words.

Rubric

The following rubric will be used to grade your submission:

Limited

[0%-49%] Adequate

[50%-59%] Accomplished

[60%-79%] Exceptional

[80%-99%] Outstanding

[100%]

Adherence to the brief

The student has written about one disruptive force and has assessed a threat and an opportunity associated with this disruptive force from an industry perspective.

The essay includes in-text citations and a reference list. The student has not exceeded the word count of 600 words. No submission

Answer fails to adhere to any of the elements contained in the brief.

Answer shows limited adherence to the elements contained in the brief. Answer adheres to some elements contained in the brief, but most key elements are missed. Answer adheres to most but not all elements of the brief. Answer adheres to all elements of the brief.

Answer adheres to all elements of the brief and writing style is succinct.

Engagement with course content

The student has engaged with the course content to support a nuanced and an accurate written response. No submission, or the answer fails to show evidence of any engagement with the course content. The submission contains some errors of fact, or there is no evidence that the student has understood the risks and opportunities associated with their chosen disruptive force. There is some evidence that the student has engaged with the course content. However, the information extracted is at times inaccurate and has not been used to meaningfully answer the question by addressing how the disruptive force will impact an industry. Answer demonstrates evidence of a reasonable level of engagement with the content provided. Most information is relevant and accurate. The student has been able to reasonably illustrate how the disruptive force will impact an industry. Answer demonstrates a thorough understanding of how their chosen disruptive force will impact the industry of their choice. Answer demonstrates a thorough and nuanced understanding of how their chosen disruptive force will impact the industry of their choice, by referring to the course content.

Evidence of critical thinking

The student drew larger conclusions and links between their own research and situated this within the content covered in the course. The student drew meaningful conclusions about the opportunities and threats associated with a disruptive force for a particular industry. There is limited evidence that the student has conducted independent research to draw meaningful links about the risks and opportunities associated with the disruptive force they have identified.

There is little evidence of critical thinking and the submission leans towards a broad and general description of the opportunities and threats associated with a disruptive force rather than a deeper critical, cohesive analysis of the opportunities and threats associated with a disruptive force for a particular industry. There is some evidence that the student has engaged with the content and independent research. There are instances when larger conclusions about the risks and opportunities associated with their chosen disruptive force are made, but these conclusions fail to fully consider the unique industry context. There is some evidence of critical thinking and the submission leans towards a general description of their chosen disruptive force rather than an analysis of it. There is evidence that the student has engaged well with the content and independent research, however there remains some room for improvement. The student shows command of the relevant conceptual issues with some analytical depth. However, the submission does not clearly draw meaningful conclusions about the unique threats and opportunities associated with their chosen disruptive force from an industry perspective, and there is a sense that more reflection on the issues covered in the module is needed. Answer demonstrates a thorough understanding of the key risks and opportunities associated with the chosen disruptive force from an industry perspective. The student has conducted independent research, and has drawn important links and conclusions between this and the course content. The answer demonstrates clear analytical sophistication, including a personal marshalling of evidence to support their claims. Answer demonstrates a thorough and nuanced understanding of the key risks and opportunities associated with their chosen disruptive force from an industry perspective. The student has conducted independent research, and has drawn important links and conclusions between this and the course content. The answer demonstrates superior analytical sophistication, including a personal and superior marshalling of evidence to support their claims.

Coherence and clarity

The answer clearly structured, and written in a way that is comprehensible. Answer lacks clarity and needs a more comprehensible structure relating to language style, grammar and accuracy of facts and information. Answer is not logically structured, or is incomprehensible. Answer shows clarity and the writing is comprehensible, but needs to be more structured. Answer is written clearly and coherently. The writing is logically structured but there is room for improvement in the application of the module content. Answer is clearly structured and written with great clarity and coherence. The application of module content is adequate. Answer is extremely well- structured and written with exceptional clarity and is comprehensible. The application of module content is excellent.

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Uploaded By : Pooja Dhaka
Posted on : November 22nd, 2024
Downloads : 0
Views : 133

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