In the module, “Creating Shared Value in the Fourth Industrial Revolution”, you encourage students to spark new ideas around institutional and systems change. What kind of mindset is needed for this?
To navigate the intricacies of institutional and systems change, students are encouraged to a envision the broader ecosystem impacted by their actions and innovations. This ‘systems thinking’ mindset means that later in their careers, when students are being inspired by, introducing or integrating new technologies, they are able to picture the variety of stakeholders it will affect. Part of this means clarifying competing ideologies as well as business models and technical functionality. We also encourage students to extend these considerations across stakeholder groups so that executives recognize benefits, risks, needs and incentive structures, which are all essential to forging successful partnerships. We try to provide options for executives to use when developing partnerships and to understand the types of policy and partnership instruments available to different stakeholders. Another way to achieve this mindset is to reframe technologies into the social narratives that drive their development and use.
A critical piece of knowledge is in understanding the nuances of value and values, and how productivity and economic incentives lead to partnerships that may not be optimal nor lead to the best returns. Role-playing case studies helps the students invent new ways to coordinate in a systems-level effort to effect change.
How do students leverage the knowledge gained from this module to advance their careers and or their business skills more generally?
In the module, students use the lens of systems leadership to make strategic decisions that extend beyond traditional organizational boundaries, and which foster collaboration and innovation. This approach empowers the students to envision and implement transformative initiatives that can drive sustainable value across diverse stakeholder groups.
Students also carry out in-depth explorations of emerging technologies which can inspire them to conceive innovative business ventures that harness evolving market trends. By understanding the potential of new technologies, students develop the agility to seize emerging opportunities. We use real-world case studies to complement theoretical knowledge and these offer valuable insights into managing competing interests and aligning organizational goals effectively.
The module also equips students with practical tools for evaluating the risks and benefits associated with new technologies, enabling them to make informed decisions and adaptat to changing business landscapes. Emphasis is placed on creating value with these new technologies not just for shareholders, but for society at large, fostering a mindset of responsible and sustainable business practices. Armed with these skills, students are well-prepared to drive positive change, forge strategic partnerships, and capitalize on emerging opportunities in their careers and business ventures.
