Business Immersion Week HR Workshops Students to listen to the following podcast: https://employeebenefits.co.uk/podcast-herbert-smith-freehills-ensures-reward-strategy- pandemic-proof/ and then answer the following two questions briefly, using the knowledge from the podcast, the HR Workshops they attended and other relevant sources or own experience:  ?How has the Pandemic and Industrial Revolution 4.0 changes Rewards and Leadership strategies for companies?  ?What are the key reward and other HR strategies you would suggest to attract top latent in the post -pandemic era under the light of Industrial Revolution 4.0? Assignment Guidelines and Criteria Please use evidence from th

How Does Industry 4.0 Impact On The Entrepreneurial Leadership Skills That Managers Need In The 21st Century ?

Konstantinos Biginas

Learning Objectives

• Appreciate the characteristics of successful Entrepreneurial Leaders in the era of Industrial Revolution 4.0.

• Critique the impact of Industrial Revolution 4.0 on the Entrepreneurial

Leadership skills that managers need in the 21st Cecntury.

• Critically evaluate the roles, and responsibilities of entrepreneurial

leadership in modern contexts

What Is Entrepreneurial Leadership?

• In recent times, entrepreneurial leadership

has become a new phenomenon in

business management.

• Entrepreneurial leadership can be defined

as a combination of leadership qualities

and spirit of entrepreneurship.

• Entrepreneurial leadership aims to create

new products, new processes and

expansion opportunities for new and

existing businesses.

Source: CU Management

• In other words….entrepreneurial leadership refers to the managers who

feel confident with taking risks, seizing opportunities, pursuing innovation.

• Entrepeneurial leaders are innovative and forward thinkers.

• They are aware of their own capabilities, and the distinctive

of their surrounding environments.

characteristics

• Their aim is to create value for businesses, stakeholders and society.

• With disruptive innovation areas ranging from 3D printing to sophisticated

robotics and predictive analytics, connectivity and smart devices lay the

groundwork for entrepreneurship as we move toward industry 4.0.

• Industrial Revolution 4.0 is a recent technology phenomenon where

innovations in robotics, predictive analytics, and the Internet of Things (IoT)

are disrupting manufacturing and other highly ingrained industries.

• Innovative technologies, like artificial intelligence (AI) and automation, have

created waves throughout the business world, changing the way managers

do everything from hiring new employees to conducting marketing

campaigns.

• Industrial Revolution 4.0 disrupts the world of work.

• New technologies change the nature of individuals’ work and their tasks, and

therefore it is necessary to determine how managers cope with these changes,

specifically relating to their entrepreneurial leadership skills.

• Hattingh (2018) highlights that due to the rapid velocity change and new

disruptive technology of the 4.0, the working environment is becoming

“unknown and unpredictable”.

• Managers battle to cope with vulnerability and precariousness of the new world

of business.

• As technology grows exponentially,

entrereneurial leaders will have to make

complex calculations based on a number of

factors quickly and efficient.

• Entrepreneurial leaders of tomorrow will be

expected to see and fully understand the big

picture and the very fine detail

simultaneously.

• Entrepreneurial leaders will need to recognize

and extract the relevant and valuable insights

from the quantity, granularity and speed of

available information. Source: askhrdf.com

· Entrepreneurial leaders need to become transformers who can confidenly dentify and capitalize on disruptive trends….

Source: askhrdf.com

1. Social Supers. Certain leaders stand out for their ability to do well by doing good. These Social Supers consider social initiatives fundamental to the success of their businesses. Their optimism about creating societal impact influences their outlook in several ways.

2. Data-Driven Decisives. Some C-level executives are overcoming challenges by taking methodical, data-focused approaches to strategic decision-making. The need for fully utilisation of big data is fundamental.

3. Talent Champions. These leaders are preparing employees for digital transformation. They are more likely than others to invest in employee retraining for the future of work.

4. Disruption Drivers. These leaders understand that investments in disruptive innovations set their organizations apart from competitors. They are confident, which gives them an advantage when coping with the unknowns of Industry 4.0. More-assured organizations will be better prepared to implement disruptive technologies.

• There will be enormous managerial leadership challenges as the impact of technology and the disruption that comes will result in an exogenous force over which leaders would have little or no control at times.

• It is the role of leaders to guide their teams and to be mindful of these forces when making business decisions that would impact on the sustainability of their organisations.

• Leaders should thus grasp the opportunity and power so as to shape Industrial Revolution 4.0 and direct it toward a future that reflects the organisation values and success.

Please reflect and answer the following two questions:

· Critically discuss the challenges and opportunities of Industrial Revolution 4.0 for today’s managers. What are your views?

· What characteristics and skills define the successful entrepreneurial leader in the era of 4.0? Please bring an example of a successful entrepreneurial leader and justify your answer.

QUESTIONS? Konstantinos

Biginas, SFHEA

Source: analyticsinsight.net

· Antonovsky, A. Health, Stress and Coping; Google Books; Jossey-Bass: Hoboken, NJ, USA, 1979.

· Antonovsky, A. The salutogenic model as a theory to guide health promotion. Health Promot. Int. 1996, 11, 11–18. 7. Makridakis, S. The forthcoming information revolution. Futures 1995, 27, 799–821.

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· Hattingh, S. Preparing the workforce for the Fourth Industrial Revolution. Ski. Work Theory Pract. J. 2018, 9, 6–18.

· Kamitake, Y. The Formal Structure of Industrial Revolutions. Hitotsubashi J. Soc. Stud. 2008, 40, 17–58. 9. Dombrowski, U.; Wagner, T. Mental Strain as Field of Action in the 4th Industrial Revolution. Procedia CIRP 2014, 17, 100–105.