A 2018 Deloitte global survey found general ambiguity about how leaders are navigating the Industrial Revolution 4.0. This year’s survey of 2000 C-suite executives showed a more clear and tempered perspective in which leaders recognize the many dimensions and ensuing challenges the Fourth Industrial Revolution brings. They also saw a subset of leadership styles forging a path forward:
1: Social Supers – Social Supers believe societal initiatives contribute to profitability and these initiatives are fundamental to their business models. They also have a great rigor around decision-making and believe their workforce is prepared for Industry 4.0.
2: Data-Driven Decisives – These leaders are twice as likely to say they are ready to lead their organizations in capitalizing on new Industry 4.0 opportunities. They will most likely invest in disruptive technologies, consider the ethical use of new tech, and train their current employees for the evolving climate.
3: Disruption Drivers – More confident they can lead in the Industry 4.0 and their organizations are prepared to capitalize on new opportunities, these leaders take a more holistic approach to decision-making. They will invest in technologies to upend their markets and competitors and make technology investments that already achieve or exceed their business outcomes.
4: Talent Champions – Talent Champions are further along in preparing their workforces for the future. They are confident in their workforce composition, believe they know current skill sets, and are willing to train their employees for the future of work. Notably, two-thirds of Talent Champions have generated new revenue streams through socially driven initiatives, versus half of all others surveyed.
Two additional encouraging survey observations: (1) These personas are contagious. These leaders share a commitment to doing good, have a clear vision of the path forward, and their characteristics might offer lessons for those still defining their approach. (2) Their annual organizational growth is faster, more than 5% annually, than their counterparts.
As you implement Industry 4.0 technologies, you can equip your employees and organization to adapt to the multi-dimensional Industrial Revolution 4.0 by understanding the ROI of these technologies. Proven IT Finance can provide Technology Business Management (TBM) guiderails that offer Value Insights®, transparency into what and how tech investments drive business results.