Asia Centre for Leadership and Civilization! - Page 25

known as Industry 4.0 ) 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 ? ( Bawany , 2018 )
The impact of digital disruption has to be managed alongside the more general volatile , unpredictable , complex and ambiguous ( VUCA ) operating conditions of recent years ( Bawany , 2016 ). An ability to calculate and manage / mitigate risk will , therefore , be another key requirement of leaders seeking to propel their organizations into the digital age . Navigating a course through these difficult conditions may also force leaders to look at their individual leadership style and decide whether it needs to be adjusted .
Professor Klaus Schwab , the Founder and Executive Chairman of the World Economic Forum ( WEF ), has published a book entitled