Current Problem
The French are currently dealing with a significant obstacle in the form of a high unemployment rate. According to the latest available data, the unemployment rate in France came in at 8.06% during the fourth quarter of 2020 (Macrotrends, 2022). This places it in fourth place among the countries of Europe with the greatest unemployment rate, behind Italy, Spain, and Greece respectively (Macrotrends, 2022). Unemployment is a significant problem in the most northern region of France, particularly for people with only a secondary education or no education. Due to this, the persons impacted have fallen into poverty and have a low standard of living.
Although it is extremely unlikely that France would ever have a rate of unemployment that is exactly zero, the government can take steps to ensure that it has one of the lowest rates conceivable by implementing several policies. Utilizing developing technology on both a domestic and international scale is the most important step the nation can take to improve its situation (OECD iLibrary, 2022). This will ensure that the people of France are creative thinkers and entrepreneurs.
Emerging Global/Local Technologies
The development of several different technologies can tackle the problem of unemployment. For instance, the process of turning fresh discoveries into marketable products plays an important part in the development of new employment opportunities (Carillo et al., 2020). The spirit of entrepreneurship is intrinsically linked to this technology. It stipulates that novel concepts and technological advancements must be brought to market so that many people can reap their benefits. To accomplish the goal of sustainability, individuals will implement novel ideas and cultivate a sense of agency within themselves. Nonetheless, implementing such technology will come with a considerable cost if the results are scalable and effective.
Application of the Hype Cycle and 6 D’s of the Disruption Model
The stages of a technology’s life cycle, from its inception to the point where it has achieved widespread adoption, are graphically represented by what is known as the hype cycle. Gartner, a business that specializes in information technology (IT) research and advisory, is the company that developed the branded tool known as the hype cycle (OECD iLibrary, 2022). On the other hand, the stages of the hype cycle are frequently used as reference points in reports on marketing and technology. The unemployment rate in France can be factored into the hype cycle to help direct decision-making regarding technological advancements. A distinct set of opportunities and dangers is associated with each cycle step.
The times in which individuals currently find themselves to be living are truly extraordinary. Information can make its way around the world in the blink of an eye. On devices that are always connected, users always have access to a wide variety of media, including music, movies, games, communication, and knowledge. Due to digitization, powerful technologies that were once exclusively available to large corporations and governments are gradually becoming more accessible and affordable (Carillo et al., 2020). These technologies range from biotechnology to artificial intelligence. Never before has there been such an opportunity for startups to unseat established businesses and cause corporate goliaths to perish in a completely unforeseen manner. Understanding and internalizing the growth cycle of digital technologies is the key to having a beneficial impact on the lives of millions of people. Digitization, deception, disruption, demonetization, dematerialization, and democratization are the six main elements that make up this growth cycle, which is referred to as the Six Ds of Exponentials.
The use of the hype cycle will require the notion of commercialization to pass through five stages that overlap with one another. In the beginning, the technological trigger stage will be used to conceptualize and discuss its impact. Early adopters will start using it right around the time it reaches its pinnacle in the inflated stage (Carillo et al., 2020). In addition, failures and defects will be identified at the stage known as the trough of disillusionment. On the ascent toward enlightenment, most businesses in France will put it into practice and test their capability (OECD iLibrary, 2022). At last, it will reach a plateau of productivity, at which point the technology will be utilized extensively across the nation. Alternately, the technology will progress via six stages referred to as the 6 Ds of Exponential Growth, which are digitalization, deception, disruption, demonetization, vanishing, and democratization. Combining these two approaches will encourage more effective and efficient utilization of technology for every individual in France.
Fostering Sustainability Practices on the Economy
The issue of the collective ecological footprint that humans leave behind can be addressed head-on by implementing France’s sustainable practices in several different ways. Typically, they concentrate on slowing or halting the destruction of the natural environment, or they approach the problem from the opposite end by looking for ways to cut down on waste, lower carbon emissions, and use solar power more (Carillo et al., 2020). Rejecting inefficient short-term procedures to embrace the country’s long-term well-being is the unifying idea that underpins France’s approach to achieving economic sustainability.
Introducing newly developed goods or services into the market is commercialization. In its broadest sense, commercialization refers to bringing a new interest or service to market, which encompasses manufacturing, distribution, marketing, sales, and customer service, as well as several other crucial tasks essential to that success (OECD iLibrary, 2022). Therefore, the commercialization of sustainable practices will bring the economy of France to its highest possible level of performance. It may be deduced from this that France’s employment rate will be brought down to an extremely low level.
Recommendations
To begin, a multinational corporation already operating in France will help promote sustainability by supporting the Sustainable Development Goals (SDGs) regarding their strategic goals on employment and entrepreneurship. This might be accomplished by the creation of work possibilities or by assisting individuals who wish to launch their businesses (Carillo et al., 2020). In addition, multinational corporations in France may establish an incubator to encourage technologies that could be utilized to solve the problem. Generally, unemployment in France is a topic that needs addressing the causes, solutions, and tactics for reducing the level of unemployment in the country.
In general, the unemployment rate in France is currently the country’s most significant challenge. The only way to solve this problem is to use recent discoveries in the form of products that can be sold. Implementing this technology with the assistance of the hype cycle and the 6 D’s disruption model is the best way to guarantee that it will be effective in lowering unemployment rates. In addition, there should be an emphasis placed on using sustainable methods to increase the profitability of the technology for the people of France.
References
Carillo, K., Cachat-Rosset, G., Marsan, J., Saba, T., & Klarsfeld, A. (2020). Adjusting to epidemic-induced telework: empirical insights from teleworkers in France. European Journal of Information Systems, 30(1), 69-88. Web.
Macrotrends. (2022). France Unemployment Rate 1991-2022. Web.
OECD iLibrary. (2022). Home. Web.