Industry 4.0 is full of promise for today's manufacturers. However, even though some have already started to successfully implement these kinds of technologies, a study by Deloitte shows that many leaders are actually less prepared than they think. As they put it, "a tension between hope and ambiguity" can be observed among these executives. Understanding the significant impact of the benefits tied to Industry 4.0, they still don't know how to concretely act on them within their company.
So how are these leaders succeeding? How are they driving these important changes within their companies when some feel they are not as ready as they should be? The answer: knowledge and awareness. They build a deeper understanding of this new revolution, become more aware of the challenges that come with it, and study the actions needed to succeed.
Among the executives surveyed by Deloitte, senior leaders showed a clear set of trends and characteristics of their own. With those, the firm defined four leader profiles driving 4.0 progress. They are:
- Social Supers: These leaders have figured out how to succeed by acting responsibly. The ways they generate new revenue streams are designed to be more mindful of society or the environment. They believe these social initiatives are critical to their business model because they drive greater profitability. Overall, they have rigorous decision-making personalities and firmly believe their workforce is ready to move forward with the 4.0 revolution.
- Data-Driven Decisives: These executives' decision-making process is clearer because they rely heavily on insights backed by data. They are nearly twice as likely to feel ready to capture 4.0 opportunities. Their likelihood of investing in disruptive technologies, of paying attention to the ethical use of technology, and of adequately training their employees for this revolution is higher than most.
- Disruption Drivers: Two main characteristics distinguish these leaders: they invest in new technologies to disrupt their markets and competitors, and they also make tech investments that meet or exceed business outcomes. They are more confident in their ability to lead this new revolution. Thanks to their fairly comprehensive approach to decision-making, they are more convinced that their organizations are ready to take advantage of these new opportunities.
- Talent Champions: This type of leader places a strong emphasis on properly preparing the workforce and future talent to succeed in the 4.0 era.
And now, you. What kind of leader are you, or which one would you like to be?
Start today by adopting some of these characteristics to position yourself as a true 4.0 leader!
