Industry 4.0 is full of promises for today's manufacturers. However, even if some have already successfully began implementing these types of technologies, a survey conducted by Deloitte demonstrates that many senior executives are in fact less ready than they may think. As they state, "tension between hope and ambiguity" is being observed amongst these executives. As the understand the strong impact and benefits involved with Industry 4.0, they remain unsure of how they can concretely take action for their business.
So how are these leader successful? How are they leading important changes within their companies when some believe they are not as ready as they should be? The answer: knowledge and awareness. They're gaining a deeper understanding of this new revolution, are become more aware of its associated challenges and are looking into the actions required to be successful.
Among the set of C-Suite executives surveyed by Deloitte, they were able to find a set of trends in the characteristics that these leaders possess. With those, they've established four profiles of leader that embrace the 4.0 advancements. They are the following:
- Social Supers: These leaders have figured out how to do well by doing good. They methods to generate new revenue streams are developed in a more socially or environmentally conscious manner. They believe in societal initiatives as essential to their business model as they lead to greater profitability. Overall, they have rigorous personalities when it comes to decision-making and strongly think their workforces are ready to move forward with the 4.0 Revolution.
- Data-Driven Decisives: These executives are seen as having clearer decision-making process as they heavily rely on data-driven insights. They are almost twice as likely to feel ready to capitalize on 4.0-related opportunities. Their likelihood of investing in disruptive technologies, being concerned about the ethical use of technologies as well as adequately training their employees for this revolution is higher than most others
- Disruption Drivers: Two main characteristics distinguish these leaders: they invest in new technologies to disrupt their markets and competitors as well as making technology investments that achieve or exceed business outcomes. They are more confident towards their ability to lead this new revolution. With their rather holistic approach to decision-making, they are more persuaded that their organizations are prepared to capitalize on these new opportunities.
- Talent Champions: This type of leader puts great focus on properly preparing their workforce and future talents to succeed in the 4.0 era. They take pride in their responsibility to train others as believe they know which skill sets are needed by their company to succeed. They see their workforce composition as being well-rounded and carefully crafted. Their socially driven initiatives have been shown to generate new revenue streams.
And now, you. Which type of leader are you or which one would you like to be?
Start no later than today to adopt some of these characteristics in order to shape yourself as a true 4.0 leader.
