Global Challenges

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 Table Of Content
Introduction 3
Main Body 4
Conclusion 9
References 10

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Introduction
At the present time, there are various challenges which are faced by organisations which have made
many changes and difficulties in developing their market. In the global market, the rise of new
technologies is the most challenging factor which has an impact on organisations' profit earning or
development. The rise of technologies has helped many of those organisations to boost their
efficiency and higher their potential although there are also many negative impacts which have
made problems. Lack of privacy, data protection and tough competitions are the few major
problems which are faced by the organisation. The following essay will introduce the megatrends
and their impact on each of them. It will provide analysis and research to show the chosen
megatrend's impact on the business landscape. This essay will analyse the megatrend impact on the
one chosen organisation by this and highlight the innovative areas to overcome the challenges to
secure market shares.

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Main Body
Megatrend is an aspect which helps in contemplating various visions of the future. It is a general
way of consisting of several phenomena, directions of development and a wide range of processing
and bringing changes. At times, it often gets considered as such occurring which gets developed at
global level and often believed to be continued in the same direction. Megatrends are familiar
things; it is not surprising as changes are happening on a daily basis and would likely also be
continuing tomorrow as well (Toader et al., 2018). It generally gets characterised by different
global patterns related to mobility, environment and behaviours. Megatrends widely bring
exponential waves which bring fundamental changes in the competitive landscape. It is a
sustainable growing movement with both significant and global impact, a few of its impacts are
given below.
Demographic and Social change- Currently the world is facing social and demographic changes at
a high rate which is also possessing different challenges for businesses and governments. Firstly,
the vast growth of the global population in a few regions is adding new workers every year to the
workforce whereas in other countries the population of working age is decreasing (Dolado et al.,
2021). The second impact is the rise in inequality and ageing of the population which is disrupting
the economic potentiality and maximisation.
Rapid Urbanisation- This takes place generally in developing countries of the Global South,
which are linked inextricably with economic development and the growth of cities. Developing
countries can also capture urbanisation which raises productivity, impacts the environment, creates
job opportunities and reduces the cost of infrastructure. As a result, the growth of urbanisation
would represent different opportunities in business which would help in prospering and growing
cities. Growing cities widely needs investments which would encourage the efficiency of
urbanisation development along with having an impact on the economic activity.
Rise of Technology- It increases the effectiveness and efficiency of different organisations by
growing its level of automation. The rise in technology helps in matching the demand and supply of
the market along with facilitating different types of transactions which would enhance the ability to
predict and provide transparency in an organisation. Technology also increases the level of
consumers getting influenced by different products and services of organisations due to its
improvement in general well-being (Linthorst et al., 2020). The value chain or organisations also
gets strongly enabled due to the financing, production, instance and involvement of different types
of designs in it which would increasingly catch the attractiveness of customers.
Climate Change & Resource Scarcity- Changes in climate are a very long-term trend over many
years which have also increased the level of accuracy and certainty of scientific predictions which
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affects the impacts of humans on the climate. As the growing population increases in a rapid way,
the expected demand is also getting raised with it by 35%. Interconnectivity between different
climatic trends results in resource scarcity and climatic changes which is also reducing the
productivity of agricultural land. Globally, the demand for water would also be increased by 40%.
Several countries of the world have also combined the ecological footprint of humans which
directly impacts the land, water and energy.

Currently, businesses are prone to face many challenges in their external environment and these can
create heavy disturbances. The above-discussed global megatrends play a huge role in shaping the
business environment and help them guide their strategy as per their requirement (Thomas, 2018).
The first megatrend that has been discussed above is demographic and social change. demographic
and social change is one of the major megatrends that has been affecting businesses on a high note.
Demographic changes such as the integration of working labours in a particular nation are bound to
create a lot of changes in businesses. businesses can even experience a loss of workers due to shifts
in demography whereas businesses on the other side will experience growth in their labour supply
(Thomas, 2018). Demographic changes such as the increase of women labourers are also highly
prone to developments in businesses. Other demographic changes such as the integration of people
from different nationalities and races might help the businesses to gather more working capital,
however, on the other hand, it can also create disturbances in the local community such as rising
crimes and communal imbalance. societal changes such as the elimination of women's partiality can
impact many businesses and can even create a positive move for them.
Rapid urbanisation is another major global megatrend through which businesses are becoming
powerful on one hand, whereas creating a negative impact on the other. Through rapid urbanisation,
businesses are experiencing many strategies which are beneficial for their organisation in targeting
more people and finding more customer reach. Rapid urbanisation has helped businesses to gather
more skilled and qualified workers and have better infrastructure for their business. It has also
helped businesses to communicate, accommodate and distribute their products and services. On the
other hand, urbanisation has created a sense of growing limitlessly which has pushed businesses
beyond the limit and environmental considerations (Bodo, 2019). Businesses tend to follow rapid
development without being considerate of their impact on the outer environment which can be
considered a negative impact.
The rise of technology has also been a major global trend for businesses which has helped
businesses in several ways to be considered an integral and inseparable part of businesses
nowadays. Through the use of technology, businesses have been able to push their business
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operations, production, supply, distribution, marketing and management efficiently with less effort
and less human capital (PWC, 2022). However, businesses that are extremely involved in the latest
technologies are cutting down employment which is considered by the working class people as a
curse and loss of skills. Business technologies have also affected the environment in many ways
through waste, carbon emission and pollution. Climate change and resource scarcity are also
integral parts and factors for businesses worldwide. Climate change and businesses are correlated
with each other as they both tend to impact each other. Climate change can have many adverse
impacts on businesses with their worldwide supplies and distribution. Businesses create many
environmental problems mentioned above which result in climate change in the long run. Resource
scarcity on the other hand is likely to cause businesses to face higher challenges in maintaining
their production and supplies and balancing their competitive advantage in the global market
(Ghadge et al., 2020). It can also create heavy disturbances in their human capital as they are also
considered a vital part of organisational resources.

BT Group is known as the British multinational telecommunication company; it operates in over

180 countries and became the largest fixed line, broadband and mobile services provider in the
United Kingdom. After the rise of technologies have made various changes and upgrades on the
technologies which have brought a rise of challenges and tough competition in the market for BT
Groups. The highest number of fixed lines and low cost are the two most benefits of technology
which have helped BT groups to enhance them to be more competitive in the market (Lau and
Haugh, 2018). The negative impact of the rise of technologies are Cyber security, Rise in
competition, Customer demand, and negative impact on the environment and people caused BT
Groups to face challenges to grow their market.
New technologies have both pros and cons in which lack of personal privacy and lack of security
have caused problems for BT Groups to provide better services to their customers. After the rise of
technologies, lack of privacy was one of the major challenges due to other third parties or hackers.
It has made many customers lose their personal data, network security and other internet things
which are provided to customers (Lim et al., 2022). Data Breach has made many customers prefer
other companies over BT Groups telecom services. Adaptation of various new software and
monitoring net services to avoid third parties entering or taking other personal information or any
important factors will help them to be more responsible and reduce their services. Rise of
competition is still one of the major challenges which have caused problems for the BT Groups to
lose their customers and face reduction in their company profits. New technologies have provided
every telecommunication company with better opportunities to boost their company efficiency, it
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has enhanced competitors and other telecom companies to reach more new customers and gain a
better position in the market (Bahrini and Qaffas, 2019). Prioritising one factor or services which
will help them to increase their customer groups and following trends to reach towards customers
before other competitors. Customers are the main sources of competitive advantages for telecom
companies which bring a high return and increase towards global companies.
Environmental factors are caused by radiation which is caused by an increase in the number of
technologies used for attracting customers and providing better services to the customer (Gunadi
and Ryu 2021). A huge number of technologies have caused a negative impact on the customers
which has reduced its business cooperative responsibilities or problems in making a positive image
of their brand. Each company has various responsibilities and factors which are needed to consider
avoiding challenges or any negative impact from their company. It has made a reduction in their
company flexibility and a reduction in their brand awareness. There are various approaches or
focusing on environmental responsibilities to avoid harming the environment will help them to
create a better awareness of their brand awareness in the market.
In the demographic and social change there are many challenges which have caused in the market
which are an increase in high population and social changes such as increase in unemployment
which lead companies to have lower changes in getting effect on the company (Opik et al., 2018).
Ageing populations are a factor of demographic changes which cause companies by declining
productivity and higher cost labour and decrease in international competitiveness. These are the
factors which caused direct impact on government economy and businesses losses due to shortage
in effective labour and reduced work effectiveness. Impact on sales rates and demand of long term
employees are the two major factors which has caused problems for the company which made it
tougher for the businesses as well as for BT Groups to have to face the problems in having
effectiveness in the market. Understanding the factors which are important for the company
workplace to enhance the efficiency for the employee to overcome the lack of potential employees
to reach closer to their business goals. Providing proper training and increasing opportunities for
the employee which allows them to have chances to achieve good results in the market.
The impact of Rapid Urbanisation caused businesses to have problems in maintaining the health of
their experienced workers and satisfying their employee made company to reduce their employee
efficiency. Covid-19 is a factor which impacted on the workers along with the company which
caused major losses in the growth of revenue and various problems in the process of development.
Although there are some recommendations which will help the company to grow and overcome
those challenges in the market. Implementation of modern technologies and changes in the factors
which create new facilities in the workplace and modern AIs which will help them to improve the
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health conditions of the employees (Vukanović, 2018). Building trust and adding new technologies
help companies to maintain their efficiency even without having any negative impact on the
productions. Building a sustainable environment and provisions of essential services are also some
of the factors which can be used as solutions to overcome the impact of urbanisation. It will help to
make plans to influence workers to maintain their health to increase their working efficiency to
create working habit of the workers considering their physical and mental health.
While operating in the managerial and leadership roles, I will face many benefits and challenges in
the process through the introduction of these global megatrends. Being in the leadership position, I
will be the one to be directly affected by the significant changes in the outer world. The
responsibilities and functions of the business will be directly burdened upon the leadership position
to mitigate any emerging risks from the megatrends (Vukanović, 2018). As it is evident that
megatrends are highly influential in business operations, they might also bring certain challenges
while adapting to the changes they might bring. Rapid urbanisation in the sense of leadership and
managerial role will be highly beneficial for me as it would make it easier for the organisation to
acquire new talents and skilled employees. Rapid urbanisation can be considered as one of the
major shapers of business organisations and their development. Through the aspect of rapid
expansion, I can take my business into performing and experiencing certain opportunities to grow. I
can also help my organisation and its objectives to focus on having more employees with a
specialised skill set. Urbanisation can be proportionally related to the development of business.
Rapid urbanisation would directly follow the change in demography and society in the outer world.
Demography and society would directly play a major role in shaping my career as a leader or
manager in a business organisation. Sudden change in demography can either help my organisation
to obtain very skilful employees (Wright and Schultz, 2018). Changes in demography such as the
engagement of more women employees in the organisation will be beneficial for the organisation to
comply with the gender gaps. Rapid urbanisation will also follow an increase in the number of
people from different races, religions and cultures. It will directly be highlighted in the managerial
post that I will pursue. Indulging in people from different races and religions can enhance my
diverse working methods. I can also help my organisation to have a diverse culture in the
organisation through which organisational values can be enhanced. On the other hand, it can also
impact the working culture of the organisation as people from different cultures will possess
different working methods and work ethics.
The rise of technology is another aspect that would highly impact my career as a manager and a
leader in a business organisation. It will be directly helpful to organise my work in the organisation.
Aspects like recruitment, employee management, customer analysis, the delegation of work and
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compensation of salary and bonuses will be made easier to address. I will have to align my
technological skills in the place of the era of technological advancements. Technological
advancements are also going to help me develop my career by increasing my skills and knowledge.
Climate change can be very impactful for the business where I would operate as a manager
(Kononiuka). Climate change can affect my organisation to change its strategies and operations in
any emergency. Resource scarcity can also hinder the process in which I can help my organisation
to obtain the necessary raw materials for production and development. Resources can also include
employees that would help me to put organisational objectives on the line.

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Conclusion
From the above study, it can be concluded that the global challenges are several factors such as
trends, development and so on that have the potential for global impacts. The above study has
highlighted the particular trends, developments and so on placing potential challenges for the
business entities to operate their business. It can be concluded that changes in demography such as
the integration of workforce from other nationalities can increase crime rates in local communities
and so on. The Aging of the population is also one of the concerns for the business organisation, it
reduces productivity and workforce. Other challenges such as rapid urbanisation also limit the
consideration of the environment; the advancement of technology in business operations limits
working opportunities and so on. It can also conclude that the utilisation of technologies in business
creates challenges such as cyber security for loss of confidential data and information, rise in
competition and so on. The study above has also concluded the reflective perspective impacts of
challenges on future managers.

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