Why you need an MBA to Excel in INDUSTRIES 4.0?
Big data, data science, artificial intelligence, data annotation, and machine learning are the cutting-edge technologies propelling the fourth industrial revolution, often known as Industry 4.0.
Industry 4.0 refers to the mechanization of the process of manufacturing, which uses technology such as artificial intelligence to improve supply chain productivity.
These technologies help to speed up the rate and maybe even allow clients to have more personalized, individualized encounters with businesses, such as Nike's customizable footwear.
However, realizing the best extent of Industry 4.0 and administering massive data silos might be difficult. So, how can an MBA assist future leaders in overcoming the hurdles and capitalizing on the possibilities presented by Industry 4.0?
According to Dr. Adriana Seclaman and Dr. Vincent Feltkamp professors of MBA at Maastricht School of Management, these are the following set of values that an MBA teaches you which are a must-have to succeed at the dawn of industrial 4.0
1. An MBA will educate you on how to utilize data to make better decisions.
To survive in the industrial revolution 4.0, you must understand how to successfully use data to guide your decisions. Data is now at your fingertips, and managers may uncover crucial performance indicators in real-time.
"Managers may observe the immediate activity of their markets. They may detect spikes in sales during a football game and decide whether to place the drink next to the munchies or at the opposite end of the store "explains Vincent, who teaches Big Data Management, e-Business, and Technology Innovation courses on the MSM MBA.
The difficulty with data is appropriately understanding it. "Managers are knowledgeable. However, this does not imply that they understand what to do about the data. The key is how to make it worthwhile including both your consumers and yourself." According to Vincent (shown).
MSM's full-time MBA program is globally approved and ranked as a top business institution in CEO Magazine's Global MBA rankings. MSM helps learners how to use data to inform business choices via courses such as Information and Analytical Analytics in Big Data and Business.
According to Vincent, the program combines the tools from the strategy course, with the tools from the marketing course, as well as new business models and data. For the wholesome knowledge of the student.
2. During your MBA, you will study firms that are prospering in Industry 4.0.
The rising array of rivals is a problem of the digital revolution, according to Adriana, and business executives must be especially wary of asymmetric enterprises.
These firms, which include Google, Apple, and Amazon, diversify into other industries to accelerate their growth. They expand asymmetrically into new markets, not necessarily for profit, but to improve their primary business strategy.
Apple, in contrast, makes it simple and inexpensive to enable software developers to create and distribute applications, which drives demand for Apple's key products, the iPhone and Apple TVs that house those apps.
MSM students benefit from the annual school Innovation Week, which comprises of two modules and includes workshop activities as well as guest lectures. Agile Project Planning is one module that trains MBA students on how to stay competitive and master continuous evolution as a business leader.
MBA educate companies on how to become more customer-centric, extract more value from the data, plus add value to their goods or services. Learners are able how to maximize the benefits of digitization "Adriana (seen) explains.
3. Working in various teams will assist you in driving innovation.
A leader must build a cohesive and varied team to progress a firm in the age of Industry 4.0.
Students from various ethnic and professional backgrounds attend the MSM MBA. The MBA class includes students from 20 different countries and ranges in age from 24 to 40.
They learn to collaborate with a variety of people. A financial manager or supervisor will learn to collaborate with a marketing manager who has a totally different point of view. According to Vincent’s opinion.
Having different perspectives within a team fosters creativity and business success. Companies in the top percentile for female representation on executive teams are 25percentage points more likely to accomplish above-average revenue than their less diverse peers, according to McKinsey.
If one wants to accomplish something insane like a trip to Mars, then one can really only do it with a tight-knit team, Vincent adds.
4. Business Administration students learn how to be leaders in Industry 4.0.
It is not only about deploying cutting-edge technology to transform a company; it is also about direction, management, environment, and adopting innovative thinking and working.
Most MSM courses are occasioned, so MBA offers students skills, but the course still returns back to what you do and how people battle toward being leaders, Vincent explains.
MSM invites guest speakers from firms such as Lloyds Banking Group and KPMG, who are driving innovation in a variety of business industries.
Technologies assist one at a certain point, but any effective company transformation begins with such a vision according to Adriana, who specializes in digital strategy and boasts a Ph.D. in strategic management, adds.
A successful leader should begin with a vision that applies to technology. The world is seeking to create the types of individuals that a firm needs as leaders."
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