- One Semester or equivalent
- 36 hours
Aims and objectives
This unit is designed to challenge the conventional mindset and frameworks used in the delivery of innovation and high risk strategies within volatile, uncertain, complex and ambiguous (VUCA) environments. Students will explore a range of conceptual theories as well as real examples such as non-human biological systems, asymmetric warfare, geo-politics, medicine, space flight, infrastructure and of course business. While the predominant approach is to focus on failure to explore lessons learned, we will seek to uncover lessons from success. The approach to risk in this unit will be framed from the perspective of exploiting VUCA environments through adaptation to shape the environment for strategic success instead of the predominant focus on what could go wrong.
After successfully completing this unit, you will be able to:
- Critically evaluate and apply high-risk strategies in various organisation types.
- Apply business fundamentals to the analysis, design and operation of high risk strategies for innovation in Australian organisations.
- Reflect on the characteristics of VUCA (volatility, uncertainty, complexity and ambiguity) with Australian business.
- Research an Organisation’s approach to delivering high risk strategies and building a sustainable organisation making recommendations for improvement to a range of stakeholders.
- Communicate proficiently in professional practice to a variety of audiences and function as an effective member or leader of a diverse team.