Industry, Innovation & Infrastructure: A Global Challenges Essay

This essay examines the megatrend of industry, innovation, and infrastructure and its impact on global challenges, focusing on Tesco as a case study. It evaluates the importance of good health and well-being, analyzing how this megatrend affects the business environment and organizations. The essay outlines innovations in this area to overcome challenges, secure market share, and achieve sustainable competitive advantages. It also explores how these megatrends will impact future managers and leaders, emphasizing the role of technology, digital transformation, and strategic adaptations in ensuring business growth and sustainability in a rapidly evolving global landscape.

Global Challenges
Individual Essay

Contents
INTRODUCTION...........................................................................................................................1
Main Body.......................................................................................................................................1
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
The nature of global challenges are transnational but in it is trans-institutional. In order to
solve these challenges, collaboration action is needed among international organisation,
universities, corporations, NGOs, creative individuals as well as governments. A megatrends
refers to a general way of development which consist different phenomena or a changing process
(Androsch and Redl, 2019). It consist exponential waves that make fundamentally re-shift in the
competitive environment of the future. For this essay, selected megatrend is industry, innovation
and infrastructure in order to understand its importance in the organisation. For this essay,
selected company is Tesco which is a multinational retailing company of UK. It is founded by
Jack Cohen in 1919 and its head quarters is in Welwyn Garden City, Hertfordshire, England,
UK. The following essays covers analysis and evaluation of good health and well being as well
as its impacts on business environment. It further analysis the organisation who is impacted from
this megatrend along with this it outline the innovations in this area in order to overcome this
challenges for securing its market share as well as sustainable competitive advantages. It also
analysis how these megatrends will impact future managers and leaders.
Main Body
Mega trends are powerful and transformative forces that has potential in order to change
the global business, economy and society. In global business environment, there are many
megatrends exist which help company to improve its growth as well as gain more and more
competitive advantages. No poverty, zero hunger, good health and well being, quality education,
gender equality, clean water and sanitation, affordable and clean energy, decent work and
economic and economic growth, industry innovation and infrastructure, reduced inequalities,
sustainable cities and communities, responsible consumption and production, climate action, life
below water, life on land, peace, justice and strong institutions as well as partnerships for the
goals (Baimyrzaeva and Meyer, 2020). All these mega trends helps in making sustainable
development in the country and society as well as help people to improve their lifestyle. The
megatrend of good health and well being wants to ensure the health and well being of the people
in their every stage of life which helps economy and society to develop effectively. It also create
opportunities for the company to improve its growth in the market as well as gain more and more
competitive advantages by solving it in effective manner.
1

A megatrend of industry, infrastructure and innovation is important for every successful
communities. In order to meet or overcome future challenges, it is important for every country to
upgraded its industries and innovation for making sustainable growth in world wide. This makes
companies to promote innovative sustainable technologies for ensuring equal and universal
access of financial markets and information. This help in making economic growth of the
country by bringing prosperity, creating jobs as well as building prosperous and stable societies
in all over the world. This will make government of a country to develop sustainable, reliable,
quality and resilient infrastructure which includes transborder and regional infrastructure in order
to support human well being and economic development (Connor, 2017). This will also makes
them focus in order to provide equitable and affordable access of infrastructure for all the people.
This megatrends also makes governments to promote sustainable and inclusive industrialization
which also helps in raising their employment share and gross domestic product before 2030. This
megatrend help small scale industries and other enterprises by increasing their access to financial
services which includes affordable credit as well as their integration into markets and value
chains. By upgrading the infrastructure and all industries help company to increased the use of
resource efficiency. This infrastructure enhancing the scientific research which helps in
upgrading the technological capabilities in industries which makes company to use technologies
effectively in order to make their growth more improved. It also encourage innovation and
sustainability which makes government to support companies and people to conduct various
research in order to create innovative things that helps company to increase their competitive
advantages and increase the economic growth of the country. This megatrends provide support to
the domestic technology, innovation and research of developing countries which helps their
economy to increase its growth as well as it also helps its domestic company to achieve their
goals effectively. It also helps in increasing the access of information and communications
technology which not only support economy but also creates opportunities for companies to
trade their goods and services in another country in easiest manner. Sustainable investment in
infrastructure and innovation are important for making economic growth and development
(Cullen, 2022). More than 50 % of world population are lived in cities where renewable energy
and mass transport is massively important but the up-gradation of information and
communication technologies is also important for increasing to growth of the industry.
Innovation and development in technologies is most important in order to overcome the
2

environmental and economic challenges and helps economy to increase its growth by providing
more jobs opportunities as well as promoting new energy efficiency. By the increase in access of
internet helps companies to easily trade their product and service in national and international
market in order to increase their economic growth as well as achieve their goals effectively. This
will also helps economy of a country to improve its growth and make more and more sustainable
development in the country.
The megatrend of industry, innovation and infrastructure also provides the impact of
Tecso which helps its management to maintain and increase its market share as well as
sustainable competitive advantages. This megatrends makes government to increase their
investing in innovation and infrastructure for improving their economic growth helps Tesco to
gain access of highly skilled staff which increase their productivity and sales effectively (Dhakal,
Connell and Burgess, 2018). This megatrends makes daily changes in technologies which also
help management of Tesco to increase their productivity and provide more innovative and
creative products and services to all over the world with the help of advance technologies. By the
innovation of digital technology makes company to easy access international market and fulfil
their customers needs and wants effectively. Digital technology help Tesco to overcome the
barriers of global business environment as well as make their competitive position in all over the
world. This will also help them to develop customer experience as well as maintain competitive
position in an global market. It provides unique opportunity to its management for improving
their business processes. By the use of new technological improvements, its management can
make their business operation more adaptable and collaborative which includes communication,
data storage, analytics and so on. Customers are important driving force of the company which
makes its management to use effective strategies in order to make their customers experience
more successful and make long term engagement with the company. As the digital
transformation make data, analytics as well as communication more strong and collaborative
which helps in flowing the information more quick manner and assist management of Tesco to
create more relevant and appealing products for their customers (Kelly and Brooks, 2018). From
this company can improve its customer experience as well as make them engaged with the
company for long term. In every businesses, customers play a critical and central role in order
make effective success of the company. With the help of digital technology, the information
about customers can be flow easily in every department of Tesco which helps in making
3

customer relations with the company for long term. The digital technology helps in storing
customers information with their buying history as well as preferences which also helps
company to make their customers satisfied with their products and services and make long term
relationship with them. This helps Tesco to maintain its market share as well as increase their
competitive advantages. Digital technologies help company to flow their inter-departmental
information in fastest manner which increase their efficiency of their business operation and
eliminate redundant tasks in relevant manner. The operating costs of Tesco is also reduced
because the use of digital technology eliminate the time-consuming and complex workflows
effectively. This will help in adjusting the workflows according the changing goals and priorities
of Tesco time to time. Digital technology make certain process of Tesco automatic which makes
company to fulfil the customers needs and wants in better as well as quick manner. By the
development of strong digital working environment in Tesco will ensure its management to
increase the growth of the business in an exponential speed (King, Cole and Hill, 2017). This
digital environment helps its management to get aware about the possible factors that helps them
to make improvements and growth of the company. By maintaining strong customer base, swift
flow of information, customer relations and automatic workflows assist company to find an
effective way that help company to grow and expand their business in more appropriate manner.
By the increase in speed and agility in flow of information along with the automatic workflows
aid management of Tesco to increased the speed of products in the market. This will also helps
them to get quick response and feedback from their customers. The automatic workflow of Tesco
assist in ensuring that the products are improved and created in fastest manner. The megatrend of
digitalization aid Tesco to increase the market the of their products with the help effective
marketing platforms which also helps them to create awareness about their products in many
more countries. By the development and advancements in technology, helps the workforce of
Tesco to become more productive in their daily tasks. This makes their employee to perform
their in more better manner as well as accomplished them before the time. Digitalization makes
their workforce transformation which also leads their business towards the progress as well as
maintain their competitive position in a changing business environment (Lustig and Ringland,
2019). All these things combine help Tesco to increased their revenue as well as develop more
creative strategies for increasing their competitive position in the market. By the increase of
access of internet in all over the world, it make easier for the people to know more about the
4

company and their products which create opportunity for the management of Tesco to use
effective sources that helps in providing the information about the products to their potential
customers in all over the world. Innovation in technology help company to easily communicate
and interact with their clients, investors, potential customers and others in fastest and wider
manner. The advance technology creates various tools of video conferencing such as Skype ,
Zoom helps to communicate and make meeting in different countries conveniently. Digital
platforms like Email, social media, and other are crucial for Tesco because it help them to
communicate and interact with customers in more easier way (Nolan, 2017). This will also help
them to understand the needs and wants of their customers which makes them create their
products that fulfil their needs and make them satisfied with the company. Due to the use of
digital technology, the important data of Tesco is stores in cloud which makes its management to
use effective and strict measures in order to secure their data and customers from any kind of
theft and virus. The use of advance technology makes company to increase their efficiency of
different function and operations as well as products and services. This will make reduction in
the operating cost and enable Tesco to grow its business rapidly. Technology like management
information system helps company to track their sales, data, level of productivity as well as
expenses in effective manner. The more advance technology help its management to analyse the
effective methods in order to overcome the challenges that affects its business environment in
order to maintain and secure their market share as well as enhance their competitive advantages
in effective manner.
The future of megatrends makes an effective environment in all over the world where
lifestyle of people is more improved as well as they have better opportunities for the employment
as well as they contain high skills and experience in order to perform their task in more efficient
manner. The megatrends of industry, innovation and infrastructure makes government to invest
in providing proper training and knowledge to the people which helps them to develop various
skills and become future leader and manager of a company (Rohner, 2018). This will help
government to improve their economic growth as well as help company to achieve their goals
and objectives effectively. Development of future leader and manager is more important for the
company in order to achieve effective success in the market. In order to make an individual a
future leader or a managers in a company, it is important for the government to use effective
strategy that helps in providing proper training to individual in which they learn how to utilise
5

technology that helps in increasing the company growth and and competitive advantage of the
company. The technology help in company to improve their efficiency and produce effective
product of the company which also makes company to hire those employees who has proper
knowledge and ability to use these skills in order to perform in their company. In many
company, their management divides the employees in different group which makes them to learn
and perform their task by collaborating with other members. This will helps company to train
future leader or manager that manage or lead their whole group in effectively and have the
knowledge to use technology for managing different task and function of the company in
appropriate manner. The company wants to increase their sales and market share, this makes
important for the company to use effective technology which helps them to make effective
growth in the market. This makes company to trained their employees how to use digital
technologies in order to help company to increase their customer experience as well as revenue
in relevant manner (Sansaniwal, Rosen and Tyagi, 2017). The employee who properly
understand the use of technology help company to prepare future leader and manager for the
company. The company should encourage their employee in order to gain broad understanding
about the company as well as future possible direction which helps them to become effective
manager or leader of the company as well as learn various skills in order to manage whole
business environment in efficient manner. The future leader or manager needs to knows about
the roles and responsibilities of each employees in the organisation because this will help them to
manage them and their task in more efficient manner. The employee should also have critical
thinking and creative skills because this helps them to solve various problems and challenges
which may arises in future while managing a company. The technological knowledge helps them
to understand the current trend and challenges which makes them to make effective decisions
that for solving these challenges as well as create opportunities that help company to increases its
market share as well as competitive advantages ( Watzel, 2020). The future leader and manager
should also have effective communication skills in order to communicate and interact with their
other subordinates in order to influence them to give their best in their performance which helps
them to make more effective growth in the market.
6

CONCLUSION
From the above mentioned essay, it is concluded that megatrends are effective forces that
help companies to drive their sustainable growth as well as maintain their competitive position in
a changing business environment. It is important for the company to analyse latest megatrends in
order to make opportunities for the company to enhance its competitive growth as well as earn
more and more profit. Investment in innovation and infrastructure are most important drivers that
helps in economic growth and development. Advancements in technology and infrastructure
helps company to overcome its various issues and challenges, create more and more job
opportunities for the people and improve its efficiency in order to operate their business in most
better manner. Use of advance technology helps company to improve their customer experience
as well as secure their market share and competitive growth in most effective manner. By
providing proper training and development to an individual help company to prepare future
leader and manger which helps in managing their different task and functions effectively and
efficiently. This will also results in increase growth of the company.
7

REFERENCES
Books and Journals:
Androsch, F.M. and Redl, U., 2019. How Megatrends Drive Innovation. BHM Berg-und
Hüttenmännische Monatshefte, 164(11), pp.479-483.
Baimyrzaeva, M. and Meyer, C.T., 2020. Megatrends and the future of work for public sector
leaders and educators. International Journal of Public Leadership.
Connor, S., 2017. Global Megatrends and the Black Country.
Cullen, J.G., 2022. THE MANAGEMENT CLASSROOM OF THE FUTURE: MEGATRENDS
AND GLOBAL CHALLENGES. The Future of Management Education, p.150.
Dhakal, S.P., Connell, J. and Burgess, J., 2018. Inclusion and work: addressing the global
challenges for youth employment. Equality, Diversity and Inclusion: An International
Journal.
Kelly, K.R. and Brooks, B.W., 2018. Global aquatic hazard assessment of ciprofloxacin:
exceedances of antibiotic resistance development and ecotoxicological
thresholds. Progress in molecular biology and translational science, 159, pp.59-77.
King, T., Cole, M., and Hill, J.P., 2017. Food safety for food security: Relationship between
global megatrends and developments in food safety. Trends in Food Science &
Technology, 68, pp.160-175.
Lustig, P. and Ringland, G., 2019. Megatrends and how to Survive Them: Preparing for 2032.
Cambridge Scholars Publishing.
Nolan, C., 2017. Global megatrends affecting agribusiness. Farmer’s Weekly, 2017(17029),
pp.6-7.
Rohner, P., 2018. Water: A megatrends perspective. In Assessing global water megatrends (pp.
27-39). Springer, Singapore.
Sansaniwal, S.K., Rosen, M.A. and Tyagi, S.K., 2017. Global challenges in the sustainable
development of biomass gasification: An overview. Renewable and Sustainable Energy
Reviews, 80, pp.23-43.
Watzel, R., 2020. Challenges for geological surveys deriving from global megatrends: The
Federal Institute for Geosciences and Natural Resources of Germany's perspective and
answers. Geological Society, London, Special Publications, 499(1), pp.79-83.
8