Digital Transformation has Propelled & Changed the Dynamics of Management Studies in Industry 4.0
ASMA India’s Admission Hunt 2021 session explored techno-managerial skills needed to succeed in the age of the 4th Industrial Revolution
ASMA hosted an insightful webinar under India’s Admission Hunt 2021 on 30th April. The demand for courses and specializations in the field of Management has risen tremendously. But, keeping in mind the advancements in technology, traditional teaching patterns have to be revised. There is a major need for change in the curriculum of management studies and techno-managerial skills are the need of the hour.
An esteemed panel was invited on ASMA for a discussion on ‘Techno-Managerial Skills Needed to Succeed in the Age of 4th Industrial Revolution’. Dr. Bhimaraya Metri, Director, Indian Institute of Management, Nagpur was the special guest and keynote speaker for the event. The panel was moderated by Dr. Shivanand Sanmath, Director, GH Raisoni Institute of Management & Research, and comprised of Dr. Sapna Rakesh, Director, IMS Ghaziabad, Dr. Bidyanand Jha, Director, Kirloskar Institute of Advanced Management Studies, Dr. Vikas Daryal, Director, Tilak Raj Chadha Institute of Management & Technology and Dr. Shauli Mukherjee, Director, School of Education and Dean, Students’ Affairs Adamas University.
The session was inaugurated by the insightful note from Dr. Bhimaraya Metri, Director, Indian Institute of Management, Nagpur who said, “Today, the entire world is marching from industrial era to the technology era. We are moving from tangible to intangible processes. In today’s business lifecycle, we might work in 10 different organizations. Soon, knowledge hour and social media came into the picture, and moving from the VUCA world, we are now in Industry 4.0 where everything and everyone is connected.” Enlightening everyone further, he said, “This world can be called a fluid world. The future is fluid because everything is changing like water. Contexts are changing along with leadership ideals. So, this journey is full of perpetual learners. Only readers and rigorous learners can be the leaders.”
The discussion on the topic went further when the moderator Dr. Shivanand Sanmath, Director, GH Raisoni Institute of Management & Research talked about the forthcoming innovative ideas and frugal innovations in Industry 4.0. Dr. Sapna Rakesh, Director, IMS Ghaziabad said, “Digital transformation is not only about technology”. It is understanding about the people in and out of the industry. It is about envisaging changes in trends and leadership. We cannot exactly define what the scenario will be like in the future. We should start adapting to technology. It is important to understand the country in which we are operating to re-engineer technology and skills.”
Highlighting the issue of lack of technology in the curriculum of various fields, Dr. Bidyanand Jha, Director, Kirloskar Institute of Advanced Management Studies said, “Technology is something we have not been able to percolate in all institutions in India. Everybody has to learn and adapt to technology to survive in the current environment. The perspective for techno-managerial skills will change soon in order for better job opportunities for students.”
Coming to the aspect of globalization, the boom in technology, and cross-cultural communication, Dr. Shauli Mukherjee, Director, School of Education and Dean, Students’ Affairs Adamas University said, “Industry 4.0 is a market of technology and globalization. The skills we require to move ahead in the world of the global workforce include different skills like cognitive skills, self-management and business, and cross-cultural orientation and emotional intelligence. Business science and business economics are important to develop a computational- thinking mindset.”
Dr. Vikas Daryal, Director, Tilak Raj Chadha Institute of Management & Technology weighed in on the discussion of the importance of techno-managerial skills in MBA 4.0. He said, “Technology will not dwarf the managers because the demand for MBA has not reduced. MBA 4.0 talks about developing and implementing applications of technology in managing businesses, services, and employees.”
The session ended with a conclusion that conventional entrepreneurial and business management skills have to change with time and now is the time of a heavily mechanized and digitized age where the need for imparting techno-managerial skills is supreme in order to survive in the industry.