The Next Generation of BusinessIndustry 4.0 is the term used to reflect the fourth industrial revolution, characterised by the converging impact of big data, artificial intelligence, technology and robotics in conjunction with societal shifts that are driving the agenda for sustainability, the circular economy and profit for purpose, or social enterprise.
This emerging world will create new demands on business managers and leaders; and skills such as data analysis, predictive skills and cognitive flexibility will join critical thinking, reflective analysis and emotional intelligence at the heart of the skill set.
From September 2020, this will be reflected in a new curriculum for our core Business Management programme.
In October 2019, the Business School hosted a day for business leaders, academics and researchers to meet and reflect on these emerging themes – “The Next Generation of Business”.
Key themes and videos of the main presentations are collected below, as a resource for all business managers and researchers to use to stimulate their own planning and strategy development.
Keep up with other aspects of how The Business School is supporting the next generation of business leaders by following #ENUNextGen
The Skill Set for Industry 4.0
Our keynote address was delivered by Jamie Hepburn, MSP, Minister for Business, Fair Work and Skills, who proposed that "Business for good is good for business".
The Minister took as his starting point the publication, earlier in 2019, of a new framework for Scotland's economic development. Entitled 'A new framework for Economic Development to feed a sense of collective well-being', he elaborated on what that framework will mean for Scotland's economic drivers in the decades to come.
"The issues you address today could hardly be more relevant... how to achieve inclusive growth in a world of rapid change may well prove to be one of the great questions of our times... and more purposeful businesses, providing high quality employment, must be a significant part of the answer.
"Policy responses must support those already in work, looking to retrain or add skills, as well as those who are starting out on their working lives.
"In the next phase of the [Scottish Government's Future Skills Action] Plan we will be engaging widely with stakeholders on clear propositions to re-orientate the skills system in Scotland, to be more agile and flexible while developing a culture of co-investment."
The changing skills system was a theme that was then developed by all our conference speakers.