Megatrends in Leadership and Technology Across Industries

Megatrends in Leadership and Technology Across Industries

Vaishnavi Gadi, Pathik Govani
Copyright: © 2024 |Pages: 25
DOI: 10.4018/979-8-3693-1946-8.ch013
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Abstract

The chapter explores the concept of megatrends in leadership and technology, emphasizing their growing importance in shaping organizations. It explores the interconnectedness of leadership styles and technological advancements, integrating change management to highlight the need to adapt to these megatrends for sustained success. It analyzes the transformative shifts in leadership at various organizational levels, from the C-suite executives to operational and management roles, including empathetic, purpose-driven, and collaborative leadership, and the rise of data-driven decision-making, agile leadership, and adaptability in various functions such as sales and marketing, human resources, operations and finance. It also discusses the impact of technological advancements across sectors like FMCG, pharma, manufacturing, IT, and Edtech, examining the impact of AI, ML, blockchain technology, IoT, automation, and virtual reality applications. Challenges related to data privacy and other technological innovations are also highlighted.
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1. Introduction

1.1. Introduction to Modern Leadership and Technological Advancements and Change Management

Effective leadership in the current digital era is essential for organisational success, especially when considering change management and technology improvements. Leaders need to be adept at navigating the challenges of change inside their organisations and have a thorough awareness of how technology can spur creativity and efficiency (Tagscherer and Carbon 2023). This entails remaining current with the newest technology developments that are pertinent to their sector, such as cloud computing, artificial intelligence (AI), data analytics, automation, and the Internet of Things (IoT), and using these developments to improve decision-making and productivity (Haleem et al. 2023).

Using strong change management techniques is another aspect of effective leadership in this situation. To guarantee that change projects are effectively executed and welcomed by all stakeholders, this entails meticulous preparation, unambiguous communication, stakeholder involvement, and ongoing assessment. It is the leaders' responsibility to drive digital transformation in their organisations by reinventing business processes, encouraging an innovative culture, and coordinating technical projects with strategic goals (Leadership and Change Management_ Navigating Organizational Transitions - The Economic Times n.d.).

Modern leaders also need to place a high value on flexibility and agility, being able to quickly adjust to changes in the market, welcome experimentation, and provide people the freedom to develop. Leaders must handle matters like data privacy, cybersecurity, and proper use of developing technology, all of which are highly ethical. Making choices that respect honesty, openness, and social responsibility is necessary for this (Cultivating Leadership Skills in the Digital Age - The Economic Times n.d.).

In order to be a modern leader, one must invest in training programmes (Hill and Fenn III 2019), cultivate a culture of learning, and maintain a constant state of curiosity about best practices and new trends (Donaldson 2006). Leaders can effectively negotiate the dynamic difficulties of the digital era, promote growth, and lead their organisations through technology changes by combining these ideas (Cortellazzo, Bruni, and Zampieri 2019).

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