At a recent IRC leadership event in Singapore Mr Vivek Bhatia, the Asia Pacific Regional CEO of engineering giant Thyssen Krupp, spoke on leadership transformation.
Specifically, he explored the key requirements of successful leadership within the 4th industrial revolution; the digital age. As with industrial revolutions past, the core focus remains the creation of value. However, the difference now is the ‘VUCA’ world in which we operate – one which is Volatile, Uncertain, Complex and Ambiguous. This has an impact at all levels: political, social, economic and environmental.
Within this context Bhatia suggested that leaders need to:
Of course, leaders do not have the luxury of dealing with each of these one at a time and so the challenge is weaving the four into a concurrent narrative.
The other challenge comes from the fact that change impacts organisations at such a high speed and from avenues not previously expected. In addition, while technology is a great enabler, when it comes to leadership, as a tool it can sometimes be more of a hindrance than a help.
In the time of Industry 4.0, it is the capacity of leaders to transform their organisations, enabling them and their teams to adapt to the changing environment which will be the true mark of sustainable success.
You might also be interested in:
The current criticism of the World Health Organisation for their handling of the COVID-19 pandemic highlights a major issue for the way NGOs must operate in the future.
We are at the precipice of a new decade of change for women. As 2020 creates new promises across different socio-economic fronts, this decade will embrace and welcome women’s role in government, politics, business and corporate leadership in a way that normalises their presence and influence in otherwise homogeneous male environments.