This is an MBA-grade full-length essay on the challenges and opportunities that are facing businesses within Industry 4.0.

Below is a snippet summary of the answer.

You can get the full essay HERE.

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These are the instructions for a 2,000-word essay under the course CORP3543 (Contemporary Business Issues).

The essay instructions required the student to pick one of the following topics.

Question 1: What are the contemporary challenges and trends reshaping the retail industry?

Indicative Answer: Students are expected to explain the essence of retail, consumer behaviour, customer service and satisfaction, and some elements of marketing. They also need to clarify how digitalisation changes the shape of retail as well as consumer behaviour and expectations. Emphasis should be given to the discussion of contemporary customers’ expectations and link them to the theories of sharing economy and experience economics, which companies should take into account and adjust their business strategies accordingly. Students must provide a specific case study example(s) in their discussion: e.g., John Lewis, Thomas Cook, Deliveroo.

Question 2: Has the COVID19 pandemic disrupted the landscape of standard supply chain management concept and how?

Indicative Answer: Students must discuss the standard theories and models of the supply chain and lean management. They are also expected to examine how current pandemic challenges these existing models and debate whether businesses (and scholars) should rethink them. Specific emphasis should be given to a particular case study example of the industry sector: for instance, car manufacturing (e.g., VW, Toyota), clothing (textile) industry (e.g., Nike), technology production (e.g., HP), maritime transportation, etc. Students must demonstrate the ability to apply theories in their discussion of real-life examples.

Question 3: Mission impossible? What are the motivating factors and challenges to businesses being sustainable and how effective are contemporary sustainability strategies?

Indicative answer: Students must discuss some of the motivating factors to business being sustainable (such as consumer/NGO pressure, legislation, SDGs, climate change and threats to long-term business survival as a result of inaction) as well as the challenges to businesses being sustainable (e.g., cost, consumer apathy, shareholders, weak legislation, ‘unreachable’ parts of the supply chain etc.) Students must also discuss the effectiveness of sustainability strategies such as making changes to supply chain or manufacturing practices, adopting the SDGs or a certification system (such as ISO26000, Fairtrade etc.) and how effectiveness can be ascertained/measured. The analysis must include real-life case study examples and practical recommendations for businesses.

Question 4: Critically discuss the challenges and opportunities for businesses within Industry 4.0.

Indicative Answer: Students must assess and debate the changing landscape of the world economies and the impact of technologies on the labour market. Good answers should include the critical discussion of how digitalisation has created new types of jobs and now requires new skills of potential employees. Students should also provide how digitalisation influenced other spheres of doing business and how technologies are being implemented there: supply-chain, sales, customers service, and public, private sectors, in general. Students must provide a specific case study example(s) in their discussion by examining a particular industry sector or a company: e.g., financial industry, deliveries (e.g., Deliveroo), or streaming services (Netflix vs Blockbuster).

Additional Instructions and Class Content

In the pdf below.