Leadership – Management for Fourth Industrial Revolution Economy – Industry 4.0

Leadership – Management

The basics remain the same. Vision, Task, People

Improvement is required in multiple dimensions to develop new business models, new technology based processes and people relations and reward systems based on new technology.
The most substantial improvements start but do not finish with individual leaders: their beliefs, conduct, ways of handling people and understanding of strategy. The leaders have to  perceive the organization as a dynamic entity, not an inert set of assets.
Leaders need good intelligence. You may say leadership IQ.  Leaders need to understand their own weaknesses and strengths and be in possession of information on how all the business units are operating. Coaching could be a very effective way to increase self-awareness and reduce blind spots of managers in persons with adequate leadership IQ. The management shift needed to adapt to the Industry 4.0 would be individual and organizational spheres.
For the individual shift, senior leaders and management need to fully understand their teams and learn about how to impact them. Research supports the concept of levels of engagement and performance, from Level 1, which is apathetic, through to Level 5, passionate and unbounded. This emergent leadership model draws on  empirical research on employee engagement and organisational behaviour.

Typical phases of leadership belief, thinking and behavior:

• Level 1 – Lifeless/Apathetic: “I am demoralized/There is nothing I can do to change this situation.”

• Level 2 – Reluctant/Stagnating: “I am frustrated/There is no point trying too hard.”

• Level 3 – Controlled/Orderly: “I need to be in control/I’m reluctant to share information.”

• Level 4 – Enthusiastic/Collaborative: “We can achieve great things as a team/I respect myself and others.”

• Level 5 – Unlimited/Unbounded: “I inspire others to achieve their unlimited potential/I am living a fulfilled life.”

How can leaders and organizations shift to a higher level of performance and success, while facing challenges of the Industry 4.0?

Leaders need good intelligence. You may say leadership IQ.  Leaders need to understand their own weaknesses and strengths and be in possession of information on how all the business units are operating. Coaching could be a very effective way to increase self-awareness and reduce blind spots of managers in persons with adequate leadership IQ.

There is impact of technology on three areas of business importance. Business models, Processes and People Relations.

Adoption of innovations both technological and managerial will not take place in organizations unless top managers are aware of them, promote them and develop expertise to evaluate them. Hence the senior managers of companies have to make efforts and organize seminars and workshops to develop awareness, promotion and evaluation of Industry 4.0 business and industrial practices.

Source:

May 2019
https://www.weforum.org/agenda/2019/05/humane-leadership-is-the-4irs-big-management-innovation/