COR1703 – MANAGING IN A VUCA CONTEXT CLASS 1 SMU Classification: Restricted COR1703 Managing in a VUCA Context • Instructor: Whitney ZHANG Wei – whitneyzhang@smu.edu.sg – 68280405/97315718 – LKCSB 5015 SMU Classification: Restricted Introduce yourself • • • • • • Full name? Name prefer to be called? Year of study? Degree of study? Where are you from? Any hobbies or sports? What is your career goal? What is your expectation of this course? What do you know about the course and what you hope to walk away with? SMU Classification: Restricted SMU Classification: Restricted How do we learn? Learning value of What we read Portion we retain 10% What we hear 20% What we see 30% What we hear and see 50% What we say ourselves 70% What we do ourselves 90% SMU Classification: Restricted The Learning Pyramid SMU Classification: Restricted Learning Objectives By the end of this course, students will be able to: • Describe and interpret some of the trends impacting our world and explore their ramifications for the world of business. • Explain the factors that underlie these increasingly complex problems. • Understand the larger context of a problem, while examining some of the details in a more focused way. • Learn the ability to identify and analyse a problem from various perspectives and develop a mind-set to appreciate the complex, uncertain and ambiguous nature of problems. • Developing your own problem-solving mind-set and building future oriented capabilities SMU Classification: Restricted Understand the world around us How these changes impact you as a manager and/or a future leader Seamless transition into the workforce What As a kind of a manager mind-set how do you prepare do you need for it and why? yourself to solve problems? SMU Classification: Restricted 1 2 3 4 Megatrends VUCA Speed Disruption 8 Thinking about the Future 9 Resilience and agile absorption 7 Building a future Scenarios and Options 10 Competing on the edge 6 Organizational Learning 11 Putting it all together Plus Presentations 5 Organizational Boundaries 12 Putting it all together Plus Presentations SMU Classification: Restricted Assessment Methods Students will be assessed through a combination of group projects and individual contributions Class participation Article presentation * Final Project Individual Essay Final exam 15% 20% 20% 15% 30% *Higher score of the two article presentations SMU Classification: Restricted Class Participation • Why your participation is important? – Creating a learning environment through debate, dialogue and discussion ▪ ▪ ▪ ▪ ▪ Asking or answering questions Adding to comments and answers Contributing insightful comments or questions Contributing opposing views Merely agreeing or disagreeing doesn’t count • How is your participation assessed? – Quantity AND QUALITY! • • • • Cold call? Look for updates from TA after each class After mid-term reminder from TA Online individual journal SMU Classification: Restricted Article Presentation • Two articles to be presented from each category (no written report) – Article Category A: Essential readings in lesson 3, 4, 5, 6 – Article Category B: Essential readings in lesson 7, 8, 9, 10 • During the presentation, each group has to demonstrate the following: – – – – • • • • Understanding of the content A good and critical summary of the article Ability to engage the class in the learning associated with the content Bring in examples to make the topic engaging and relevant Two presentations each lesson starting lesson 3 Presentation: 25 minutes Dress code: Casual Q&A: 5 – 10 minutes SMU Classification: Restricted Article presenation Criteria Scores Organization of presentation 25% Subject knowledge 50% Critical engagement of the class in learning 15% Efforts of the team members to collaborate 10% SMU Classification: Restricted Final Project • The objective of the final presentation is to give you an experience of what real life business challenges can entail • Choose a publicly listed company (first-come, first-served) • Identify some key issue(s) relevant to VUCA – Please focus on the future. It is OK to talk about the past and understand what they have done, but what is important is how it could shape their future • Perform in-depth analysis on the company, the industry in which it operates, and the macro-environment that is relevant to the company – External and internal analysis – Key issue(s) – Recommendation and suggestions • Presentation with no written report: • Q&A: • Dress code: Formal 25 minutes 5 – 10 minutes SMU Classification: Restricted Final Project Criteria Scores Organization of presentation 20% Subject knowledge 60% Critical engagement of the class in learning 10% Efforts of the team members to collaborate 10% SMU Classification: Restricted Individual Essay • Based on the materials covered during the course, pick one topic, most resonated with you, and explain why it resonated most with you, which could be how it helped you to discover: (i) something new, (ii) about the way you view the world and/or (iii) about yourself • Understanding of VUCA at individual level • No more than 1000 words • Arial font 11 with 1.5 line-spacing • Due in week 11 • Soft copy and hard copy SMU Classification: Restricted Individual essay Criteria Scores Definition of topic 10% Structure of essay 10% Content analysis 60% Presentation 20% Definition of Topic (10%) Clearly defined the topic Structure of the Essay (10%) Clear structure and organization 10 5 Good and proper referencing of sources 5 Content and Analysis (60%) Evidence of relevant reading and research 10 Analyzed issues and ideas in sufficient depth 10 Logical and coherent arguments 10 Evidence of original and creative thought 15 Evidence of critical thinking Presentation (20%) Fluency and writing style Spelling, syntax, punctuation, grammar, and paragraphing Final Grade for Essay Total 15 10 10 100 SMU Classification: Restricted Final Exam • • • • Online exam 2 hours Close book close notes MCQs, short answer questions, openended questions. • Review session SMU Classification: Restricted • • • • Academic integrity Grouping Self and Peer evaluation Course materials (essential and optional readings) • Simulation game • Communication • Consultation by appointment SMU Classification: Restricted Deadlines • • • • • • • • • Week 2: Choose one article from each category Week 9: choose your company Week 11: Individual essay (soft copy and hard copy) Week 12: final project due (no matter your presentation is in week 12 or 13) Submit article presentation slides at the start of the class Submit Final project presentation slides Midnight before actual presentation day Submit a hard copy of your slides (article presentation and final project) on the day of your presentation All submission (softcopy) to dropbox NOT via email Do NOT wait until last minute to submit to dropbox SMU Classification: Restricted Understanding the Future SMU Classification: Restricted Understanding the Future Predictions are difficult… The world we live in is complicated… … and it keeps changing.. Hence, we have to find ways to make sense of it… ▪ One way is to understand it from the lens of VUCA ▪ ▪ ▪ ▪ SMU Classification: Restricted BREAK! SMU Classification: Restricted Identify megatrends • What is a megatrend? • A megatrend is a long-term change that affects governments, societies and economies permanently over a long period of time. • Megatrends are slow, steady and powerful for decades SMU Classification: Restricted Megatrends • • • • • Demographic Globalization Technology Economic power shift Environmental SMU Classification: Restricted • Opportunities? • Challenges? • Implications? SMU Classification: Restricted https://www.youtube.com/watch?v=im5SwtapHl8&t=3s SMU Classification: Restricted Megatrends • • • • • Demographic Globalization Technology Economic power shift Climate change and resource depletion SMU Classification: Restricted Megatrends - demographic • • • • • Population increase Aging (the world will be 9 years older) 70% more urban 50% population growth based in Africa Women are over half of the workforce SMU Classification: Restricted Megatrends • • • • • Demographic Globalization Technology Economic power shift Climate change and resource depletion SMU Classification: Restricted Megatrends - Globalization • Increasingly free flow of goods and services, financial capital, and knowledge across country borders • Increased economic interdependence among countries and their organizations • Higher performance standards on every dimension SMU Classification: Restricted Megatrends • • • • • Demographic Globalization Technology Economic power shift Climate change and resource depletion SMU Classification: Restricted Megatrends - Technology • Technology diffusion rate – Telephone — 35 years; TV — 26 years; Radio — 22 years; PCs — 16 years; Internet — 7 years • Information age – Impact of internet – Big data • Biotechnology and AI – The marriage of DNA sequencing, computing power, and nanotechnology SMU Classification: Restricted SMU Classification: Restricted Megatrends • • • • • Demographic Globalization Technology Economic power shift Climate change and resource depletion SMU Classification: Restricted Megatrends – Economic Power shift • • • • • The rise of Asia China: the rise, the slowing down, the aging population The role of Africa The potential of middle east Rising geopolitical tension SMU Classification: Restricted SMU Classification: Restricted Megatrends – Economic Power shift • • • • • The rise of Asia China: the rise, the slowing down, the aging population The role of Africa The potential of middle east Rising geopolitical tension SMU Classification: Restricted SMU Classification: Restricted Megatrends – Economic Power shift • • • • • The rise of Asia China: the rise, the slowing down, the aging population The role of Africa The potential of middle east Rising Geopolitical tension SMU Classification: Restricted Megatrends • • • • • Demographic Globalization Technology Economic power shift Climate change and resource depletion SMU Classification: Restricted Megatrends – Climate change and Resource Depletion • • • • Global warming Increased costs of extreme weather Increased energy consumption led by increased urbanization 50% increase of food production to feed the increasing population • 40% gap between water supply and demand SMU Classification: Restricted Surprise: Black Swan Events SMU Classification: Restricted Why megatrends • Megatrends are the forces that define our present and future worlds • The interaction between them is as important as each individual megatrend • https://www.youtube.com/watch?v=Qfc7VG4ocr8&t=40s SMU Classification: Restricted Activity • Discuss interactions of any two megatrends • Choose one interaction and discuss its implications • Present to the class your discussion SMU Classification: Restricted Next Week • Understanding VUCA • Choose your first article that you want to present from category A and inform me
