21949 Challenge/Opportunity Discovery
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Subject handbook information prior to 2020 is available in the Archives.
Credit points: 12 cp
Subject level:
Postgraduate
Result type: Grade and marksRequisite(s): 25720 Applied Financial Management OR 23707 Philosophy, Politics and Economics OR 22788c Accounting Practices and Tools OR 24748c Delivering Customer Value
The lower case 'c' after the subject code indicates that the subject is a corequisite. See definitions for details.
These requisites may not apply to students in certain courses.
There are course requisites for this subject. See access conditions.
Description
This subject introduces students to a range of analytical tools and skills to understand, analyse and evaluate challenges and opportunities today's organisations are facing. Students examine a range of environmental, social, technological and economic drivers of megatrends (associated with technological, sociocultural, political, economic and ecological forces) influencing organisations, industry sectors and societies as they operate within planetary boundaries. They explore how these changes/trends can be addressed through digital concepts and business models. Students become familiar with complexity thinking, multi-level perspectives and methods for envisioning futures, and apply these to specific problems. They participate in a Digital Lab which introduces them to the key digital tools and concepts needed to successfully operate in a digital environment and drive digital strategies. Coursework focuses on developing students' analytical skills, such as research, critical thinking, scanning, pattern recognition, creative problem solving and presentation and visualisation skills. The subject further focuses on developing students' team working skills and their ability to collaborate with multiple stakeholders with diverse needs and perspectives and to account for judgments made within ethical decision making frameworks.
Subject learning objectives (SLOs)
| 1. | apply a range of frameworks, approaches and methods creatively and critically to envision and gain insights into social, environmental, technological and economic megatrends and potential futures |
|---|---|
| 2. | apply a range of tools and techniques to devise socially and environmentally sustainable strategies for organisations to address challenges and opportunities in the digital era |
| 3. | utilise a range of visualisation and storytelling techniques to persuasively and professionally present findings to a professional/expert audience |
| 4. | demonstrate advanced team working and ethical decision making skills and abilities to collaborate with diverse individuals and stakeholders |
Course intended learning outcomes (CILOs)
This subject also contributes specifically to the following program learning objectives:
- Analyse relationships between different types of data sets to gain insights to complex business challenges (2.1)
- Identify innovative business models in relation to disruptive technologies and trends (2.3)
- Construct and present multi-media communications for diverse audiences (3.1)
- Critically evaluate current and planned business practices in terms of sustainability (4.2)
Contribution to the development of graduate attributes
The subject develops students’ understanding of a range of social, environmental, technological and economic shifts and megatrends and how these changes/trends can be addressed as opportunities for digitally-driven strategies and responsible management practice. The subject introduces students to multidisciplinary methods for envisioning futures and key digital tools and concepts. Students will apply a range of analytical tools and techniques, and develop their communication, collaboration and presentation skills. By developing the above skills and capabilities, the subject prepares students for 21950 Challenge/Opportunity Design and 21951 Challenge/Opportunity Delivery.
This subject contributes to the development of the following graduate attributes:
- GA2. Critical thinking, creativity and analytical skills – be able to apply and demonstrate critical and analytical skills, and innovation in business practice.
- GA3. Communication and Interpersonal skills – be able to use communication skills effectively to work with others.
- GA4. Attitudes and values – have an understanding of obligations and responsibilities in business and their impact.
Teaching and learning strategies
The subject includes interactive sessions and facilitated discussions with academics and industry experts, student group presentations, student group workshops, and company presentations.
The subject synthesizes knowledge acquired in other subjects of the degree. Students apply that knowledge to an organizational case under the guidance of academic staff and industry professionals.
Preparation outside class: Students are required to complete a range of materials provided online including, for example, courses provided via Lynda.com, academic and non-academic readings, TED talks, documentaries, podcasts and movies.
Content (topics)
- Environmental, social, technological and economic megatrends
- Research and transdisciplinary methods of analysis and inquiry including futures thinking
- Analytical tools and techniques at macro, meso and micro levels
- Visualisation and storytelling tools and methods
- Key digital tools and concepts for addressing business challenges and opportunities
- Capabilities and techniques supporting effective collaboration and ethical decision-making.
Assessment
Assessment task 1: Case analysis and digital strategy development
| Objective(s): | This addresses subject learning objective(s): 1, 2, 3 and 4 This addresses program learning objectives(s): 2.1, 2.3, 3.1 and 4.2 |
|---|---|
| Type: | Report |
| Groupwork: | Group, group and individually assessed |
| Weight: | 70% |
| Criteria: | Students will be assessed as a group based on the quality of the research, analysis and evaluation as demonstrated in the group report and presentation (Group assessment weighting 30%). Individually, students will be assessed based on their contribution to team and project management, their initiative and specific role (students will choose specific roles/tasks to take the primary responsibility for) and their presentation skills (total 40% for individual contribution). |
Assessment task 2: Reflective essay
| Objective(s): | This addresses subject learning objective(s): 4 |
|---|---|
| Type: | Essay |
| Groupwork: | Individual |
| Weight: | 30% |
| Length: | No more than 4 A4 pages |
Minimum requirements
Students must achieve at least 50% of the subject’s total marks and complete all assessments.
Recommended texts
Driving Digital Strategy: A Guide to reimagining your business (Gupta 2018).
The Business of Platforms: Strategy in the age of digital competition, innovation, and power (Cusumano, Gawer, & Yoffie 2019).
Open Innovation Results: Going Beyond the Hype and Getting Down to Business (Chesbrough 2020)
Competing in the Age of AI: Strategy and Leadership When Algorithms and Networks Run the World (Iansiti & Lakhani 2020)
A range of additional readings and resources including academic and non-academic publications, Lynda.com courses, TED talks, documentaries, movies, podcasts etc are provided on Canvas.
Additional materials and slides used in class will be shared in Canvas. Please check Canvas regularly and ensure you prefer all required materials prior to coming to class.
References
Boudreau, K. J., & Lakhani, K. R. (2013). Using the crowd as an innovation partner. Harvard Business Review, 91(4), 60-69
Pisano, G. P., & Verganti, R. (2008). Which kind of collaboration is right for you. Harvard business review, 86(12), 78-86.
Iansiti, M., & Lakhani, K. R. The Truth about Blockchain (2017). Harvard Business Review, January–February, 118-127.
De Langhe, B., Puntoni, S., & Larrick, R. P. (2017). Linear thinking in a nonlinear world. Harvard Business Review, 2017(May-June), 11.
Gupta, S. (2018). Driving digital strategy: A guide to reimagining your business. Harvard Business Press.
Cusumano, M. A., Gawer, A., & Yoffie, D. B. (2019). The business of platforms: Strategy in the age of digital competition, innovation, and power. New York, NY: HarperCollins.
Chesbrough, H. (2019). Open Innovation Results: Going Beyond the Hype and Getting Down to Business. Oxford University Press.
Iansiti, M & Lakhani, K. (2020) Competing in the Age of AI: Strategy and Leadership When Algorithms and Networks Run the World. Harvard Business Press.
McKinsey & Company (2018). An executive's guide to AI.