The world is in a time of extraordinary change and upheaval. Society faces unprecedented disruptions resulting from rapid technological development, extreme and accelerating environmental crisis, and high-stakes political contests. The nature and role of business are changing, and organisations must find new ways to address to social and environmental priorities while building economic and cultural value.

The convergence of digital, mechanical, and biological technologies provides extraordinary new opportunities for business innovation. Robotics, advanced computing, internet connectivity, bio- and nanotechnology, machine learning, and decentralization are among the 21st Century tools that are changing how we live, work, and trade. The Fourth Industrial Revolution – or Industry 4.0 – is a period of rapid and significant change across industries including manufacturing, energy, finance, transport, textiles, healthcare, real estate, and security.

This unit explores the concepts, principles, goals, challenges, and opportunities of the Fourth Industrial Revolution from a strategic management perspective. Students will investigate cutting-edge ideas and use key business management tools to conduct analysis of Industry 4.0 business opportunities. The unit will also consider critical perspectives and trade-offs in the Fourth Industrial Revolution – who loses, who wins, what changes, and how can we ensure that innovation contributes to future social and environmental sustainability?