We are still at the beginning of Industry 4.0, also known as the Fourth Industrial Revolution, which brings together physical assets with digital technologies such as analytics, artificial intelligence and cognitive technologies. Based on research involving more than 2,000 specialists in 19 countries, a new report by Deloitte Global addressed the existence of four types of leaders.
The four types of leaders in Industry 4.0
The Social Supers: Although most of the executives surveyed state that social impact is an organisational priority, many still struggle with the tension between creating a positive impact and generating profit. They also believe that social initiatives, in most cases, contribute to profitability. This type of leader considers social initiatives fundamental to their business models in the Industry 4.0 era and translates their optimism into the way they work, with confidence and benefits in other areas.
The Data-driven decisives: A methodical, data-driven approach to strategy development in the Industry 4.0 era gives these leaders confidence. They also demonstrate leadership traits that can position their organisations on a path to long-term success. They are bolder: half of them invest in technology to compete in markets, whereas only one third of other leaders do so. Being data-driven in decision-making pays off for nearly half of the organisations led by these decision-makers, which generate 5% or more annual revenue growth, compared to only 25% of other organisations.
The Discription Drivers: These are executives who report investing in technologies to reshape the market. These leaders are more likely to say they feel prepared to capitalise on the opportunities associated with Industry 4.0 and are ready to invest in the opportunities associated with this industry. They are also more focused on believing they have a workforce with future-ready skills and plan to continue training their current employees extensively, with a focus on short-term results, understanding Industry 4.0 technologies, and a lack of leadership vision.
The Talent Champions: These are executives who are further ahead than their peers in preparing work for the future. They believe they know which skill sets are required. Despite this confidence, they are not complacent: they take responsibility for training their employees for the future of work and are also more attentive to investing in technologies that can compete with rivals. This focus leads to a range of benefits that can be reflected in a positive outcome; that is, by prioritising workforce development, employees can be more aligned and motivated to expand their influence.
Which leadership profile do you identify with?
Are we prepared, and do we identify with any of these types of leaders?
Learn more in the Forbes article
