The Future Of Leadership In The Fourth Industrial Revolution- The Importance of cognitive readiness and emotional & social intelligence skills for IR 4.0
Digitization has an impact on all organizations across various sectors or industries. In each case, the impact is a different one which makes it essential for companies to have a good understanding and view of what they face and how digitization will affect their company: which opportunities can be seized and which threats have to be faced?
The impact of digital disruption has to be managed alongside the more general volatile, unpredictable, complex and ambiguous (what is collectively known as ‘VUCA’) operating conditions of recent years (Bawany, 2016).
Leaders are facing the almost overwhelming task of restoring confidence and respect in leadership and business. They are being called upon to guide organizations through times of turbulence and uncertainty, to show the way forward and to set an example. And all this in the face of an increasingly disruptive global economy and in a climate of cynicism and mistrust - tough economic and political circumstances by any standards.
From the ongoing longitudinal research by Centre for Executive Education (CEE), we believe that leadership in the digital world is all about the ability to impact and influence your followers and stakeholders towards achieving the mission and objectives of the organization by demonstrating effectively the suite of next-generation leadership competencies such as cognitive readiness skills, critical thinking and emotional and social intelligence competencies including empathy and relationship management.
Leading in the Fourth Industrial Revolution (IR 4.0)
Professor Klaus Schwab, the Founder and Executive Chairman of the World Economic Forum (WEF), has published a book entitled The Fourth Industrial Revolution in which he describes how this fourth revolution is fundamentally different from the previous three, which were characterized mainly by advances in technology (Schwab, 2017).
Schwab defines the first three industrial revolutions as the transport and mechanical production revolution of the late 18th century; the mass production revolution of the late 19th century, and the computer revolution of the 1960s.
The fourth industrial revolution or IR 4.0 as it is commonly known, represents the combination of cyber-physical systems, the Internet of Things, and the Internet of Systems. In short, it is the idea of smart factories in which machines are augmented with web connectivity and connected to a system that can visualize the entire production chain and make decisions on its own. In this fourth revolution, a range of new technologies will evolve that combine the physical, digital and biological worlds. These new technologies will impact all disciplines,
economies, and industries, and even challenge our ideas about what it means to be human.
Technological innovation is on the brink of fuelling momentous change throughout the global economy, generating great benefits and challenges, in equal measure. To thrive in this environment, Schwab argues, public-private research collaborations should increase, and should be structured towards building knowledge and human capital
to the benefit of all.
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. However, 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 organizations. They should thus grasp the opportunity and power so as to shape the Fourth Industrial Revolution and direct it toward a future that reflects the organization values and success.
Importance of Cognitive Readiness Competencies in IR 4.0
In CEE executive coaching engagements over recent years supporting senior leaders managing complex problems and decision making within their organization operating in a digital and highly disruptive business environment, we have found that those leaders who thrive are able to develop and demonstrate effectively the suite of cognitive
readiness competencies.
Cognitive readiness can be viewed as part of the advanced thinking skills make leaders ready to confront whatever new and complex problems they might face. As stated earlier, cognitive readiness is the mental preparation that leaders develop so that they, and their teams, are prepared to face the ongoing dynamic, ill-defined, and unpredictable challenges in the digital, highly disruptive and VUCA-driven business environment.
The Executive Development Associates (EDA) has identified the following 7 key cognitive readiness skills collectively known as Paragon7, which develop, enhance or sustain a leader’s ability to navigate successfully in this ‘new normal.
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About the Virtual Leadership Masterclass Series
A series of highly practical Leadership Masterclass programmes are designed to develop the relevant competencies and skills for Board, C-Suite and Senior Level Leaders operating in today’s highly disruptive, VUCA World.
This Masterclass Series will leverage on best-in-class practices and thought-leadership concepts, tools and techniques to drive organisational & leadership excellence.
The Courses are designed to provide Business and Functional leaders with a platform to develop from being ‘good’ to ‘great’.
They are being offered in response to the market needs to ensure that their senior-level executives possess the right competencies and skills to successfully adapt to new realities when leading in a disruptive, VUCA World.
The Virtual Leadership Masterclass Schedule:
Masterclass 1: Leading in a VUCA World
Masterclass 2: Leadership Challenges of a VUCA World
Masterclass 3: Developing Cognitive Readiness Competencies
Masterclass 4: Developing Social & Emotional Intelligence Competencies
Masterclass 5: Results-Based Leadership™ (RBL) Framework
Masterclass 6: Winning the War for Talent 2.0
Masterclass 7: Managerial Coaching for Success
Masterclass 8: Inspiring Your Multigenerational Workforce
Masterclass 9: Building High-Performance Teams with SCORE™ Framework
Bonus Course: Developing Your Blueprint for Leadership Success
Learning Outcomes:
Upon completion of the complete Premier Masterclass Series, the participant will be able to better appreciate and/or understand:
What is the context for leaders in today’s VUCA business environment?
How to resolve the leadership challenges in this new environment?
What are the elements of Cognitive Readiness Competencies?
Why are Emotional & Social Intelligence Competencies key drivers for success?
How to achieve sustainable organisational results during these turbulent times?
What is required to transform to be a ‘High-Performance Organisation’ (HPO)?
How to transform your NextGen leaders to succeed in the VUCA world?
How to deliver effective feedback and coach the team to success?
How to build and engage a successful high-performance team?
What is the role of leaders to build a robust talent & leadership pipeline?
The programme incorporates a number of unique features and works on a number of levels. It is specifically aimed at enhancing and developing the skills, knowledge and behaviours of the participants.
The participants will develop their understanding of Leadership Effectiveness and how it will lead to a creation of a sustainable competitive advantage for their respective organisations through the development of an organisational climate that will contribute towards enhancing employee engagement and productivity during challenging times when operating in a disruptive VUCA business environment.
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