Critically discuss the shift in the geopolitical landscape in 2023 and its impact on global business.

DEPARTMENT OF GLOBAL BUSINESS AND ENTERPRISE

BMG705 (CRN30745) MODULE ASSESSMENT RESIT SUBMIT BEFORE 23.59hr ON SUNDAY 03/12/2023

Individual Written assignment (100%)

Develop an essay based on ONE of the following topics:

a) Critically discuss the shift in the geopolitical landscape in 2023 and its impact on global business.

b) Investigate how climate change will directly or indirectly affect business focusing particularly on threats and opportunities.

c) Rapid changes in technology will change how we do business.

d) Diversity in the workplace is good for business. Discuss. 

You MUST:

  • Use specific examples, recent literature, and relevant data to support your answer- we expect that citations used are from credible sources, e.g recognized academic, industry, business, and government sources.
  • Show that you understand and can evaluate the differing opinions on these topics; do opinions differ historically or on a geographic or sectoral basis? How credible or unbiased are these opinions?
  • Use the lecture material and key literature introduced in class as a basis for your own research.

Submission

Online

via Blackboard Learn Turnitin before 23.59hrs on Sunday

03/12/2023

 

 

Length:

 

(2,500 words +/- 10%):

Feedback:

 

Usually 3 (working) weeks of the submission date

 The Ulster University Harvard referencing style must be applied to your assignments (see https://guides.library.ulster.ac.uk/businessguide for guide) and it will be assessed using the Level 7 qualitative assessment criteria (see Appendix 1). 

NOTE

  • Late submissions will not be accepted after this date unless supported by extenuating evidence as required by University of Ulster policy. Please refer to programme handbook.
  • The assignments will be marked in accordance with the Ulster University Plagiarism policy. Please refer to program handbook.
  • The document should be referenced using the UUBS Harvard system of referencing and page-numbered.

See:1 https://guides.library.ulster.ac.uk/businessguide

FEEDBACK

Feedback will be provided usually within 3 (working) weeks of the submission date.

 

Marking Scheme

 

 

 

Range (%)

 Descriptors

 

6

70 – 100

"Excellent" and "Comprehensive"

 

5

60 - 69

"Good" and "Wide""

 

4

50 - 59

"Limited" and "Occasional"

 

3

40 - 49

"Basic" and "Weak"

 

2

35 - 39

"Poor" and "Limited"

 

1

0 - 34

"Little" and "Insufficient"

EVALUATION

Critical Evaluation of Issues & Material Including an Original & Reflective Approach

SYNTHESIS

Synthesis of Issues & Material Including an Original & Reflective Approach

APPLICATION

Clear Evidence of Relevant Applications &/or Empirical Results

UNDERSTANDING 

Comprehensive Knowledge of Key Concepts & Principles

READING

Extensive Evidence of Reading Supplementary Sources 

Good Evidence of Reading Basic Sources

REFERENCING

Comprehensive Referencing

BIBLIOGRAPHY

Comprehensive Bibliography

STRUCTURE

Logical Structure

GRAMMAR

Correct Grammar

SPELLING

Correct Spelling

PRESENTATION

Excellent Well Directed Presentation

MARK AWARDED;

No Evaluation of Issues & Material

6

5

4

3

2

1

 

 

6

5

4

3

2

1

 

 

No Synthesis of Issues & Material

 

6

 

5

 

4

 

3

 

2

 

1

 

 

No Evidence of Relevant Application of Theory to Practice 

 

6

 

5

 

4

 

3

 

2

 

1

 

 

Little or No Evidence of Knowledge of Core Concepts & Principles

 

6

 

5

 

4

 

3

 

2

 

1

6

5

4

3

2

1

 

 

No Evidence of Reading Supplementary Sources

Little or No Evidence of Reading Basic Sources

6

5

4

3

2

1

 

 

Little or No Referencing

6

5

4

3

2

1

 

 

6

5

4

3

2

1

 

 

Little or No Bibliography Unacceptable Structure

6

5

4

3

2

1

 

 

GRAMMAR

6

5

4

3

2

1

 

 

6

5

4

3

2

1

 

 

Unacceptable Grammar Poor Spelling Unacceptable Presentation 

COMMENTS: Feedback should reflect the following: strengths, weaknesses and areas for improvement

SECOND MARKERS COMMENTS (if appropriate): 

AGREED OVERALL MARK (if appropriate): (Condonable Range for Postgraduate Courses: 45 - 49%)

LECTURER:

SECOND MARKER (if appropriate):

 

Plagiarised (Do not copy)

(a) The Shift in the Geopolitical Landscape in 2023 and Its Impact on Global Business

Introduction

The geopolitical landscape in 2023 has undergone significant shifts, impacting global business in multifaceted ways. Key events, including the ongoing Ukraine-Russia conflict, rising tensions in the Asia-Pacific region, and evolving trade policies, have reshaped the international business environment.

Key Geopolitical Shifts

  1. Ukraine-Russia Conflict: The prolonged conflict has disrupted energy supplies, particularly natural gas to Europe, leading to increased energy costs and supply chain disruptions.
  2. Asia-Pacific Tensions: Rising tensions between China and Taiwan have escalated, affecting global semiconductor supply chains and prompting businesses to reconsider their manufacturing bases.
  3. Trade Policies: The U.S. has intensified its trade war with China, imposing additional tariffs and restrictions, which have forced multinational companies to diversify their supply chains away from China.

Impact on Global Business

  1. Energy Sector: European businesses have faced increased energy costs, prompting a shift towards renewable energy investments to mitigate dependency on Russian gas.
  2. Technology and Manufacturing: The semiconductor industry has experienced significant disruptions, leading companies like Apple and Samsung to diversify their chip production to other countries such as Vietnam and India.
  3. Supply Chain Realignment: Businesses are increasingly adopting a "China plus one" strategy to reduce reliance on Chinese manufacturing, leading to growth in manufacturing sectors in Southeast Asia.

Differing Opinions

Opinions on these geopolitical shifts vary:

  • Historical Perspective: Historically, geopolitical tensions have led to shifts in global trade patterns, as seen during the Cold War era.
  • Geographic Basis: European countries emphasize energy independence, while Asian countries focus on regional stability and trade diversification.
  • Sectoral Basis: The technology sector advocates for diversified supply chains, while traditional manufacturing sectors face challenges in relocating operations.

Conclusion

The geopolitical shifts in 2023 have created both challenges and opportunities for global businesses. Companies must navigate these changes by diversifying supply chains, investing in renewable energy, and staying informed about geopolitical developments to maintain resilience in an uncertain global landscape.

(b) Climate Change: Threats and Opportunities for Business

Introduction

Climate change presents both direct and indirect effects on businesses, with significant threats and opportunities. Companies must adapt to the changing environment to sustain their operations and capitalize on emerging opportunities.

Threats

  1. Physical Risks: Increased frequency of extreme weather events, such as hurricanes and floods, disrupts supply chains and damages infrastructure. For example, Hurricane Ida in 2021 caused significant disruptions in the U.S. energy sector.
  2. Regulatory Risks: Stricter environmental regulations and carbon pricing increase operational costs. The European Union’s Green Deal aims to reduce carbon emissions by 55% by 2030, affecting industries reliant on fossil fuels.
  3. Market Risks: Shifts in consumer preferences towards sustainable products can affect market demand. Traditional automotive companies face declining demand as electric vehicle (EV) adoption rises.

Opportunities

  1. Green Innovation: Businesses investing in green technologies, such as renewable energy and electric vehicles, gain a competitive advantage. Tesla’s dominance in the EV market showcases the potential of green innovation.
  2. Sustainable Practices: Companies adopting sustainable practices can reduce costs and improve brand reputation. Unilever’s Sustainable Living Plan has enhanced its market position by aligning with consumer values.
  3. New Markets: Climate change mitigation efforts create new markets for sustainable products and services. The global renewable energy market is projected to reach $2.15 trillion by 2025, driven by increased investment in clean energy.

Differing Opinions

  • Historical Perspective: Historically, industrial revolutions have led to significant environmental impacts, but recent emphasis on sustainability marks a shift towards balancing economic growth and environmental protection.
  • Geographic Basis: Developed countries prioritize technological solutions, while developing countries emphasize adaptation and resilience to climate impacts.
  • Sectoral Basis: Energy-intensive industries face significant challenges in reducing emissions, whereas technology sectors view climate change as an innovation opportunity.

Conclusion

Climate change poses significant threats to businesses, but it also offers opportunities for innovation and market growth. Companies that proactively adopt sustainable practices and invest in green technologies can thrive in a changing climate landscape.

(c) Rapid Changes in Technology and Their Impact on Business

Introduction

Technological advancements are reshaping how businesses operate, presenting both challenges and opportunities. The rise of artificial intelligence (AI), blockchain, and the Internet of Things (IoT) are transforming various sectors.

Technological Trends

  1. Artificial Intelligence (AI): AI enhances efficiency and decision-making processes. For instance, Amazon uses AI to optimize supply chain management, reducing delivery times and costs.
  2. Blockchain: Blockchain technology ensures transparency and security in transactions. IBM’s blockchain platform has revolutionized supply chain management by providing real-time tracking and reducing fraud.
  3. Internet of Things (IoT): IoT connects devices, enabling real-time data collection and analysis. Smart manufacturing, exemplified by Siemens’ digital factories, improves production efficiency and reduces downtime.

Impact on Business

  1. Operational Efficiency: Automation and AI improve operational efficiency by streamlining processes and reducing human error. McKinsey estimates that AI could increase global GDP by 1.2% annually.
  2. Customer Experience: Advanced technologies enhance customer experiences through personalized services and products. Starbucks uses AI to customize recommendations, improving customer satisfaction.
  3. Data Security: Blockchain provides enhanced data security, protecting businesses from cyber threats. Financial institutions use blockchain to secure transactions and reduce fraud.

Differing Opinions

  • Historical Perspective: Technological revolutions, such as the Industrial Revolution, have historically transformed industries, but also posed challenges such as job displacement.
  • Geographic Basis: Developed countries lead in technological adoption, while developing countries face challenges in infrastructure and digital literacy.
  • Sectoral Basis: The tech industry rapidly adopts new technologies, whereas traditional industries may struggle with integration and workforce adaptation.

Conclusion

Rapid technological changes are transforming business operations, offering opportunities for efficiency and customer satisfaction. However, businesses must address challenges such as data security and workforce adaptation to fully leverage technological advancements.

(d) Diversity in the Workplace: Benefits for Business

Introduction

Diversity in the workplace encompasses various dimensions, including gender, race, ethnicity, and culture. Embracing diversity can significantly benefit businesses by enhancing innovation, decision-making, and overall performance.

Benefits of Workplace Diversity

  1. Enhanced Innovation: Diverse teams bring varied perspectives and ideas, fostering innovation. A study by McKinsey found that companies with diverse executive teams are 33% more likely to outperform their peers.
  2. Improved Decision-Making: Diverse teams make better decisions by considering multiple viewpoints. Cloverpop’s research indicates that diverse teams make decisions 60% faster than non-diverse teams.
  3. Increased Market Reach: Diverse workforces can better understand and serve diverse customer bases. PepsiCo’s diverse marketing teams have successfully launched products catering to different cultural preferences.

Differing Opinions

  • Historical Perspective: Historically, diversity was often overlooked, but recent movements emphasize the importance of inclusion in the workplace.
  • Geographic Basis: Diversity initiatives vary globally; Western countries prioritize diversity, while some regions may face cultural or regulatory challenges.
  • Sectoral Basis: Tech companies actively promote diversity to foster innovation, while traditional sectors may lag due to entrenched practices.

Conclusion

Diversity in the workplace offers substantial benefits for businesses, including enhanced innovation, improved decision-making, and increased market reach. Companies that prioritize diversity can achieve better performance and a competitive edge in the global market.

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