Question

Corporate Leadership will be a critical driver, for organizations to conform and adapt to the challenges of Industry 4.0 while Talent Management is vital as a building block of resources for Strategy Implementation.

Discuss (with examples) the strategic actions that organizations could undertake in this technological advancement.

Note:

The consideration of the following Analytical tools are recommended in the discussion of Question 4   

Environmental  Analysis - Internal / External

SWOT Analysis

TOWS Matrix

BCG Matrix

Ansoff  Matrix

Marketing  Mix

Product  Life  Cycle

Answer 1

Technological advancement is the major factor in the business environment which the organization should look into for the purpose of the competitive advantage and sustainability. If the organization is adaptable to the technological advancement then it could enhance its productivity and profit margin. Some of the strategic action which can be implemented for the purpose of the meeting or cope up with the technological advancement is mentioned below.

• Performing SWOT analysis to identify the strength and weakness of the organization in terms of technological advancement. For example through swot analysis the organization can find if the staff members of the organization are technologically savvy and can determine the need for training and development.
• Focusing on the marketing mix is the other strategy which can determine the position of the organization in the business environment.
• Talent management is the other strategic action which can be performed for meeting the technological advancement.