Task Description: Identifying a grand challenge problem that impacts a particular business/ industry from the list below and Formulate a problem statement. You are required to use the frameworks and methods in PESTLE analysis and Developing a problem statement.
Climate Change/Environmental Degradation
Automotive Industry (with a focus on Holden, a major Australia-based automobile manufacturer)
Follow the Structured:
1. INTRODUCTION
Introduce what is the purpose of your assignment and what will be covered, and provide an overview of your selected business/ industry and its location.
Brief introduction of the purpose of the assignment and what it will cover, and an overview of the selected company (or industry). E.g., What/who is Holden.? What do they do? Where are they located? (If selecting an MNC, you need to select a specific location of operations for your analysis because this will affect your analysis) – Note: You need to pick a real company or industry, excluding what was covered in the workshop.
2. ANALYSIS
Here you are analysing the context for the grand challenge problem that you have identified. You need to apply the context from the perspective of how your chosen business/ industry is impacted by this grand challenge problem.
• Construct a simple PESTLE diagram (include all the factors – at least two dot points for each factor) for Holden.
From your PESTLE analysis done, select two factors only to explain in more detail. These factors need to refer to your grand challenge problem.
Please note that the assignment need to include references for this section to support your response.
3. 5Ws AND 1H
Identify the 5Ws and 1H (what, why, where, who, when and how) the problem statement.
You are expected to support their 5Ws and 1H analysis with credible sources. You will need more detailed version of what was illustrated here, and your analysis here must be used to inform your problem statement.
In the problem statement you need to clarify what the problem is and the consequence of not solving it; who is being affected by the problem (this could be a person, a group); when it occurred i.e. the time and date and when it needs to be solved; where is the problem felt, such as maybe in a product, service, resource etc, and why. The why can be why the problem is occurring and why the problem needs to be fixed. How is how did we create the problem; this hints at the root causes of the problem.
4.PROBLEM STATEMENT
Problem statement based on the information presented and your 5Ws and 1H.
5.CONCLUSION
Conclude by reinforcing the key points from your problem identification.
REFERENCE LIST
In APA 7 style
IMPORTANT NOTES:
Arguments need to be supported throughout by research and referencing (APA7 style) to acknowledge where the information is coming from.
A minimum of 6 references is required with at least half of them from academic/ business sources, such as peer-reviewed/ academic journal articles and credible websites/ publications like government, business or industry (avoid unsubstantiated sources that are not credible or reliable like Wikipedia, blogs, etc.).
The references are probably mostly going to be from industry/business/government publications as students will need to support the facts and data used in their assignment. E.g. Statista, Harvard Business Review, McKinsey, Forbes, The Economist, Government websites, etc.
The document needs to be structured using clear headings and paragraphs, formal writing.
THINGS TO KEEP IN MIND:
You should use third person and a formal tone in your writing.
The assignment needs to be supported by references – you must cite the sources you used to support your statements/ analysis.
*Remember that paragraphs should have 3 to 5 full sentences that are coherent with a clear start and end.
Students need to focus on the problem definition in A2 but keep an awareness that A3 will ask them to propose solutions and these solutions will need to be viable from the company perspective. For example, you cannot fix COVID or fix the political situation in the country or fix climate change, but what can the company do to deal with the challenges? This should give students an idea of how to approach the grand challenge problem statement for their selected business/ industry.
The purpose of this assignment is to identify and analyze a grand challenge problem that impacts a specific business or industry, and then formulate a problem statement based on the analysis. This assignment focuses on the Australian automobile manufacturer Holden within the context of the grand challenge of environmental degradation and climate change. Holden, a renowned automobile manufacturer, has had a significant presence in Australia. The company’s operations, strategies, and challenges will be examined in light of the environmental issues posed by climate change.
Political: Government regulations on emissions and pollution standards.
Economic: Economic shifts impacting consumer demand for sustainable vehicles.
Social: Growing awareness of environmental concerns among consumers.
Technological: Advancements in electric vehicle technology.
Environmental: Climate change impacts on production and resource availability.
Legal: Regulatory pressures to reduce carbon emissions and promote green initiatives.
Environmental and Technological Factors: Holden faces the challenge of reconciling the traditional automotive industry’s environmental impact with the rapid advancement of electric vehicle technology. The shift toward electric vehicles is crucial to mitigate environmental degradation caused by internal combustion engine vehicles, and Holden’s ability to adapt to this transition will be critical for its long-term viability.
Economic and Social Factors: Consumer preferences are shifting towards sustainable and environmentally friendly products. This shift impacts Holden’s ability to attract customers who demand more sustainable transportation options. Economic considerations such as the cost-effectiveness of producing electric vehicles versus traditional vehicles also play a role in the company’s future decisions.
What: The problem revolves around the challenge of reducing the environmental impact of Holden’s automobile production and adapting to the changing consumer demands for sustainable vehicles.
Why: The problem exists due to increasing global concerns about climate change, environmental degradation, and the need for sustainable practices across industries.
Where: The problem is felt within Holden’s operations, product development, and market presence in Australia.
Who: Holden, its employees, customers, and stakeholders are affected by this problem.
When: The problem is already affecting the industry and must be addressed urgently to meet environmental goals and consumer expectations.
How: The problem has been exacerbated by the historical reliance on internal combustion engine vehicles, which contribute to environmental degradation.
The problem at hand is the imperative for Holden, a major automobile manufacturer in Australia, to navigate the grand challenge of environmental degradation and climate change in the automotive industry. Failure to address this challenge could result in severe consequences for the company, including diminished market share, reputational damage, and potential regulatory sanctions. The impact of this problem extends to various stakeholders, including Holden’s employees, customers seeking eco-friendly options, and the broader society concerned about the ecological footprint of the automotive sector. As the urgency to tackle climate change grows, Holden must swiftly transition towards sustainable practices and technologies, including the development and promotion of electric vehicles. The root causes of this problem can be traced to the historical reliance on conventional combustion engine vehicles and the lag in adapting to emerging electric vehicle technology.
In conclusion, Holden, a significant player in the Australian automotive industry, is faced with the grand challenge of environmental degradation and climate change. The company’s response to this challenge is essential for its long-term success and sustainability. By acknowledging the impacts of climate change and aligning its strategies with the growing demand for eco-friendly vehicles, Holden can not only mitigate potential negative consequences but also position itself as a leader in addressing environmental concerns in the automotive sector.
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