“The Fourth Industrial Revolution (Industry 4.0) represents the combination of Artificial Intelligence (AI), Robotics, Cyber-Physical Systems and the Internet of Things.
Leadership 4.0 is about leaders creating their own digital transformation strategy and ensure it is aligned with the business and growth plans of their organization. This is achieved by demonstrating effectively the suite of nextgen leadership competencies of cognitive readiness which include critical thinking, innovative thinking along with emotional and social intelligence skills such as empathy and relationship management.”
– Prof Sattar Bawany (2019)
Leadership 4.0: How Ready are You to be a Digital Leader?
Transforming NextGen Leaders Today
Leadership Excellence Essentials, Issue 02.2019
Digitization which is the cornerstone of the Fourth Industrial Revolution (also known as Industry 4.0) has an impact on all organizations across various sectors or industries. In each case, the impact is a different one which makes it essential for companies to have a good understanding and view of what they face and how digitization will affect their company: which opportunities can be seized and which threats have to be faced? (Bawany, 2018)
The impact of digital disruption has to be managed alongside the more general volatile, unpredictable, complex and ambiguous (VUCA) operating conditions of recent years (Bawany, 2016). An ability to calculate and manage/mitigate risk will, therefore, be another key requirement of leaders seeking to propel their organizations into the digital age. Navigating a course through these difficult conditions may also force leaders to look at their individual leadership style and decide whether it needs to be adjusted.
Leading in Fourth Industrial Revolution
The nextgen leaders operating in the Fourth Industrial Revolution or Industry 4.0 which represents the combination of Artificial Intelligence, Robotics, Cyber-Physical Systems, the Internet of Things, and the Internet of Systems, has resulted in the need for organizations globally to incorporate the next generation leadership competencies in order to address the development needs of their rising leaders. This expanded group of upcoming leaders need to have a broader skillset, one that equips them to think and act globally in a VUCA business environment.
Today, research has shown the importance of several leadership competencies that have been effective in transforming the nextgen leaders. These include cognitive readiness skills and emotional & social intelligence competencies which are crucial in leading the team and organization in a highly disruptive and increasingly VUCA-driven business environment which underpin the Industry 4.0.
CEE along with our global strategic partners have developed a series of Leadership Masterclass Programs to enhance the competencies and skills of the managerial leadership at all levels to lead and engage their teams and stakeholders towards ensuring the sustainable competitive advantage of the respective organizations.
In a VUCA world what is needed is Cognitive Readiness : the preparedness and agility to handle the situation at hand and still prevail. Chief among the new VUCA-related competencies that leaders need to develop is a high level of Cognitive Readiness, which is the mental, emotional, and interpersonal preparedness for uncertainty and risk (Hagemann & Bawany, 2016).
Critical Thinking, the more common and tactical of the thinking skills, involves strategic thinking, creative thinking, problem-solving, and decision-making. It has been a hot topic for the past six years in the EDA Research on Trends for Executive Development . In the latest 2016 Survey,respondents also identified the importance of developing Cognitive Readiness in order to be able to effectively think critically.
Organisations are prioritizing the development of Cognitive Readiness as the one of priority for leading in a VUCA business environment. This may reflect recognition of its importance for current and emerging leaders and a serious commitment to developing these mental capabilities, or it may simply reflect curiosity about the latest leadership development topic and a desire to avoid being left behind. Either way, two issues are present. First, organisations will need to think creatively about the processes they employ to accelerate the developmentof Cognitive Readiness in High Potential Leaders.Second, organisations may want to explain why, in practice, Cognitive Readiness is important to their success and then define in much greater depth their expectations of perspective.
There is growing evidence that the range of abilities that constitute what is now commonly known as emotional & social intelligence plays a key role in determining success in life and in the workplace. (Bawany, 2014).
Extensive longitudinal research by Centre for Executive Education (CEE) has uncovered links between specific elements of emotional and social intelligence and specific behaviours associated with leadership effectiveness and ineffectiveness in developing an impactful organisational climate that is supportive in driving enhanced employee and customer engagement resulting in the achievement of the desired organisation results (See Results-based Leadership Framework for details).
An organisation’s employees have always made the difference between a truly successful organisation and a mediocre entity, but it’s amazing how often managers overlook or discount this fundamental recipe for economic survival. Organisations with cultures that focus on their people and that invest in their future will in the long-run, be more competitive than cultures that view employees as mere costs to be reduced in times of trouble.
The once identifiable boundaries of our marketplaces and industries have become permeable. Now they shift continuously, sometimes slowly, sometimes quickly, but always feeling slightly beyond our grasp. In this environment, leaders realise that a sustainable future is only possible if organisations can sense, adapt, and respond to change; if they can help their organisations evolve with an evolving world.
In view of the current disruptive and VUCA centric business environment in the era of the Fourth Industrial Revolution, now, more than ever, leaders have to navigate unfamiliar, challenging times, a quickening pace of change, increasing expectations, and a rising tide of rapidly-evolving conditions. This new and different environment is challenging leaders to find new ways to lead their organizations and achieve sustained success. Because of these circumstances, there is a thirst for leadership, yet leaders face a whirlwind environment laden with remarkable opportunities and daunting challenges through which to lead their people and organizations.
Against this backdrop, we have designed, developed and successfully delivered in recent years, this Masterclass Series which leverages on best-in-class or thought-leadership concepts, tools, and techniques to drive organizational & leadership excellence.
It is designed to provide CEOs, C-Suite Leaders as well Business and HR leaders with a platform to develop from being good to great. The programs incorporate a number of unique features and work on a number of levels. It is specifically aimed at enhancing and developing the skills, knowledge, and behaviors of the participants. The participants will develop their understanding of Leadership Effectiveness and how it will lead to a creation of a sustainable competitive advantage for their respective organizations through the development of an organisational climate that will contribute towards enhancing employee engagement and productivity.
The CEE 2018 Directory for Masterclass Series for Transforming the NextGen Leadership is available as a download here. The Masterclass with its various modules and content is proven in its success. It is based on both CEE and our strategic partners’ extensive experience globally with a broad range of businesses across diverse industries, on contemporary, proven frameworks and approaches on what we know it takes to transform the culture and the leaders and managers of a business from “Good to Great”!
The highly volatile, uncertain, complex and ambiguous and chaotic changes brought about by the internet over the last twenty years are nothing compared to what is to come over the next few years. No industry, no organization is immune from the threat of digital disruption and with labor markets being transformed by artificial intelligence and automation, no individual is immune. The next generation of transformation leaders at all levels is required to drive digital transformation and to lead in the Fourth Industrial Revolution (also known as Industry 4.0).
In March 2018, as part of CEE ongoing Leadership Readiness Research since 2011, we explore a key question: How ready are the leaders of businesses and in the public sector in harnessing the full potential of Industry 4.0 operating within the digitalized, disruptive and VUCA-driven business environment with the view to benefit their clients, their people, their organization, their communities, and society more broadly?
This Masterclass is designed to inspire you and to help transform you and your team’s leadership practices to succeed in an innovative, digital context within the era of the Industry 4.0. During this highly experiential workshop, you will take part in interactive simulations, focused group discussions and receive bite-sized takeaways enriched by the facilitator’s own experience coaching and mentoring leaders who have been involved in digital business transformations. So you can go back and improve your own organizations with a renewed sense of energy, effort and skill set.
For the Course Outline, visit here.
The CEE Masterclass Series for Transforming NextGen Leaders are certified by The International Professional Managers Association (IPMA).
The programs incorporate a number of unique features and works on a number of levels. It is specifically aimed at enhancing and developing the skills, knowledge and behaviours of the participants – both individually and as a group. At all times the focus of every interaction is about action – participants will be impacting on their people, their organisation and, most importantly – themselves!
The participants will develop their understanding of Leadership Effectiveness and how it will lead to creation of a sustainable competitive advantage for their respective organisations through the development of an organisational climate that will contribute towards enhancing employee engagement and productivity.
1) Sattar Bawany (2018). Leading the Digital Transformation of Organizations, Expert Insights, New York, Business Expert Press LLC.
2) Sattar Bawany (2017). The Future of Leadership in the Fourth Industrial Revolution: Importance of Cognitive Readiness and Emotional & Social Intelligence Skills for IR 4.0 in Leadership Excellence Essentials, Issue 12.2017.
3) Sattar Bawany (2016). Leading in a VUCA Business Environment: Leveraging on Cognitive Readiness and RBL for Organizational Success in Leadership Excellence Essentials, Issue 07.2016.
4) Sattar Bawany (2016). NextGen Leaders for a VUCA World: Transforming Future Leaders for Successin Leadership Excellence Essentials, Issue 08.2016.
5) Sattar Bawany (2014). Building High Performance Organisations with Results-based Leadership (RBL) Framework in Leadership Excellence Essentials, Issue 11.2014
6) Bonnie Hagemann, Sattar Bawany et al. (2016). Research on Trends in Executive Development: A Benchmark Report, published by Executive Development Associates (EDA); Pearson TalentLens and Performance Assessment Network (PAN), February 2016.
7) Bonnie Hagemann & Sattar Bawany (2016). Enhancing Leadership and Executive Development – Latest Trends & Best Practicesin Leadership Excellence Essentials, Issue 03.2016 (March 2016).
8) Klaus Schwab (2017). The Fourth Industrial Revolution. New York, Crown Publishing Group.
9) World Economic Forum (2018). World Economic Forum (WEF) Annual Meeting at Davos Meeting January 2018.
10) World Economic Forum (2015), WEF Outlook on the Global Agenda 2015