Competencies of Effective Managers in the Era of Fourth Industrial Revolution

Abstract

The article contains results of an analysis of key competencies required by effective managers in our time of massive digitalization caused by the fourth industrial revolution. The essential meaning of competencies and digital competencies required by a manager in our time is outlined. It is shown that competencies of an effective managers were evolved in parallel with four industrial revolutions: while in the era of the first industrial revolution physical skills of the personnel were crucial, the second industrial revolution pushed up the development of cognitive skills, the third industrial revolution was associated with automation of industrial processes, and the fourth industrial revolution relies on digital competencies.   
 It is argued that when an organization strives to be competitive in future, it has to focus on competence building of its managers. The analysis revealed that an effective manager in the era of the fourth industrial revolution needs to have and develop the following categories of competencies: basic competencies (creativity and innovative way of thinking, emotional and social intellect, communicability, cultural intellect, critical thinking, self-criticism and integrity); digital competencies (ability for analytical thinking, computational thinking, ability for cooperation in the virtual environment, flexibility and adaptability, ability for self-education), and the competencies related with ability to operate in the network, cognitive flexibility, ability to find comprehensive solutions to the problems and to give sound assessment of the team members’ contributions in the project performance.