4th Industrial Revolution: Skills Sets for Employability of Business Graduates in Bangladesh

Abstract

This paper aims to find out whether the current business graduates of Bangladesh are ready to perform in the new era of Industry 4.0 by unearthing the lacking of their skill sets. Industry 4.0 will bring new implementation and integration of technologies which will be very difficult for business graduates to adapt without adequate skills needed for Industry 4.0. After conducting an extensive literature review a skill set has been revealed to help the business graduates for better employment opportunities in the new environment of Industry 4.0. However, after completing the whole study, it is clear that there is a huge gap between the skills that have in our current business graduates and the skills required for better employability in Industry 4.0. Current business graduates mainly have lacking in three areas: Knowledge of AI, Cognitive Flexibility, and Data Analysis skills. Recent business graduates indicate inadequate facilities as a barrier to developing the skills needed for Industry 4.0. Although lack of interest, lack of awareness and additional cost also work as a barrier to developing the needed skills. After finding out the skill gap of current business graduates this study recommends some important measures to optimize the skill gap.