The fourth industrial revolution that we have entered, of highly digitalised business and organisational environments, bring new

Question:

The fourth industrial revolution that we have entered, of highly digitalised business and organisational environments, bring new challenges and opportunities for individual behaviour. In a world of work with increasingly smart technology and equipment, with software that helps us to make decisions and even makes decisions for us in some circumstances, what will human behaviour requirements be? As an example, humans will be able to delegate to artificially intelligent systems the decisions on whether a bank should lend money to householders or small businesses. One of Australia's major banks announced in 2018 that it would be laying off some 6000 people and hiring 2000 different people, with higher levels of technology skills and capabilities. Humans will be required by our organisations to do higher-level tasks such as problem solving and innovation, while there will be less routine processing work such as that of bank tellers and machine operators in factories. Hence with the rise of higher levels of automation and artificial intelligence, managing in the future will mean implementing a changing boundary of what people and technology can do: bringing a need for motivating people to use their lateral thinking capabilities more and their lower levels of physical and information processing somewhat less. We will need to hire and motivate people who are tech-sawy' more and find ways to motivate them and skill them up. University graduates will be required to increasingly work in situations of high technological intensity, which will require maturity of understanding of just what technologies can and cannot do, and how combinations of humans and technical systems can be jointly optimised. Should we be afraid that machines will replace our jobs to the point that there will simply be too few jobs for university graduates and others? Most experts think this is very unlikely, as it didn't happen in previous industrial revolutions, and because new technology applications tend to create new work requirements and jobs, just as they replace older, lower-skilled tasks with their lower cost automations. Yet at the very least it does mean that we will increasingly need to be able to change our work contributions as new technologies mature, and be able and comfortable working 'elbow to elbow' with technology and machines, that can actually think at higher levels than ever before. Question As a manager, in a bank, insurance company or a manufacturer, or even a government department, how will you manage the capabilities of your employees, young and old, in the face of ever-improving technology that can replace people in the routine tasks they have traditionally conducted? What type of culture would you strive for, and how would you manage conservative and older employees in particular, who might resist changes?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Management

ISBN: 9780324317985

7th Edition

Authors: Richard L. Daft

Question Posted: