Week 1 - Course Introduction and Megatrends Flashcards
What is a megatrend?
A powerful, transformative force that could change the global economy, business, and society (BlackRock, 2018).
Where do megatrends emerge?
(and who does it affect)
In the macroenvironment—affecting individuals, organizations, and society holistically.
(PESTLE = Macro-environment)
What are some examples of megatrends?
Changing family structures, technological advancements, gig economy, environmental instability.
How has the COVID-19 pandemic influenced megatrends?
The pandemic disrupted travel and traditional workplaces, accelerating remote work and exposing gaps in digital infrastructure and healthcare systems.
What are the first 5 Sustainable Development Goals (SDGs)?
- No Poverty
- Zero Hunger
- Good Health and Well-being
- Quality Education
- Gender Equality
What is SDG 13?
Climate Action – Take urgent action to combat climate change and its impacts.
When were the SDGs adopted?
In 2015, as part of the 2030 Agenda for Sustainable Development.
How does climate change impact organizations?
It disrupts supply chains and creates a need for sustainable innovation.
What are the benefits and risks of globalization?
Benefits: Cheaper labor, new markets. Risks: Supply chain issues, cultural concerns, ethical concerns.
Define intellectual capital and its types.
Intangible assets like human (skills), relationship (networks), and structural (patents, systems) capital.
What does Moore’s Law suggest?
Computing power doubles every 1–2 years, demanding continuous skill updates.
Continuous skill updates mean regularly learning new technologies and tools to keep up with rapid advances in computing power. This is important because it helps you stay relevant, competitive, and able to adapt in a fast-changing tech environment.
What does VUCA stand for?
Volatility, Uncertainty, Complexity, Ambiguity.
What defines the gig economy?
Short-term, task-based work like Uber driving or freelancing.
What are the four categories of gig workers?
Free agents, casual earners, reluctants, and financially strapped.
What are pros and cons of gig work?
Pros: Flexibility, job creation. Cons: Job insecurity, lack of benefits, exploitation.
What is labor market polarization?
A growing divide where high-skilled thrive and low-skilled face insecurity.
How did COVID-19 transform work?
Boosted remote work and e-commerce, but brought mental health challenges and “Zoom fatigue.”
Why are trade unions declining?
Due to gig economy growth, anti-union laws, and fewer full-time jobs.
What is a key challenge for modern labor markets?
Balancing flexibility with job security and worker protections.
