In the modern world where the Fourth Industrial Revolution is taking place, organizations are facing numerous challenges they have to overcome in order to derive benefits and remain successful. The established model of leadership will also have to undergo significant transitions so as to meet the requirements of fast-changing technologies and business. The purpose of each leader is to evaluate how ready their organization is to meet the future and make the most of it.
First of all, it is important to establish what the Fourth Industrial Revolution is. It is not merely an academic theory – it is an economic reality supported by substantial evidence (Groscurth, 2018). It brings a lot of promises and opportunities: new technologies and new products that enhance human life are constantly introduced. In the era of the Fourth Industrial Revolution, physical, biological, and technological worlds will be more interconnected than ever. This convergence will make human life increasingly easier and simultaneously more challenging. It will bring risks and uncertainty and a pressing need for change and adaptation. For example, one can already see how the role of information is increasing: new ways of collecting and analyzing data are constantly required. The Fourth Industrial Revolution will bring advancements in such spheres as robotics, artificial intelligence, and 3-D printing. It will entail more human-machine collaborating and a continuing decrease in demand for jobs that require manual labor (Groscurth, 2018). It is also necessary to keep in mind that the Fourth Industrial Revolution unfolds faster than the previous industrial revolutions, and organizations and teams will have to adapt quickly.
It is important to understand the role of a leader in the world of rapid technological advancement. The traditional functions, motivation and coordination, will, naturally, remain in place; however, the methods, strategies, and approaches should inevitably change. There is a number of characteristics a future-ready leader should possess. First of all, they are expected to have a vision, be creative and insightful, promoting future-shaping policies and decisions. Secondly, they should put a great emphasis on relationships. The future is for people who can collaborate, who understands the importance of sharing ideas. A good leader should not be predominately concerned with their personal success; they are supposed to value performance over politics and be ready to help other people to improve (Groscurth, 2018). Therefore, they need to promote constant learning and development. In the world of the Fourth Industrial Revolution, education should be institutionalized, and it has to be proactive rather than reactive.
Another important issue is working with human resources. In the modern economy, leaders have to search for new ways of attracting and retaining smart employees with creative ideas. For that, education is again needed, since maintaining talented workers can only be done by investing in developing their skills and knowledge. Besides, it is essential to take care of the employees well-being (Groscurth, 2018). Thirdly, though it may seem hard in the world of constant distractions, a good leader should be able to focus solely on the matter at hand and invest predominately in meaningful conversations.
According to various tools and assessments provided by Groscurth, the score of my team and organization is 98. That implies that though there is a number of aspects which should be improved, we are almost ready to manage opportunities and risks the Fourth Industrial Revolution brings. There are several crucial strategies that are already employed by our organization. We understand the importance of continually improving our potential and emphasize proactive learning. As a leader, I try to ensure that my employees are provided with opportunities for development and personal growth. My objective is to create such an environment that they can feel that their work is meaningful. For that, we set clear goals and facilitate communication so that everyone fully understands what is expected from them. We have methods of assessing the impact of learning and tools to ensure that we are always taking actions in line with our purposes and values. We also have a number of performance appraisal strategies. As a leader, I try to ensure that my employees are content and healthy.
However, I believe that there are some aspects we can improve. I think that as a team of young professionals, we are yet not ready enough for the challenges of the aging workforce. Besides, as most of the projects in our organization are done by working in teams, we may improve our understanding of when collaboration is helpful and when it should be avoided. As a leader, I also struggle with averting distractions and concentrating solely on the matter at hand. To eliminate the problem, I plan to regularly write down the list of things that engage and exhaust my brain and invest in creating a schedule that would include the hours of deep concentration and time for restoration of my mental energy. My goal is to be fully present and bring the most of my cognitive abilities to the current situation without multitasking and thinking about several projects and issues simultaneously.
While the Fourth Industrial Revolution disrupts the traditional ways of operating organizations, it is crucial to employ various strategies that enhance ones chances to overcome the upcoming challenges. The role of a leader would be retaining creative and agile employees who understand the principles of smart collaboration. Besides, there should be mechanisms to determine that all decisions are made in accordance with the values and goals of the organization.
Reference List
Groscurth, C. (2018) Future-ready leadership: strategies for the Fourth Industrial Revolution. Praeger. Web.