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The term ‘industrial revolution’ is used to refer to the transformation of the social and technological economic systems in industry, focusing in particular on changes in living conditions, circumstances of work, and economic wealth. To educate future executives to transform the coming technological disruptions of industrial revolution 4.0 into an avenue for world economic development and prosperity, Master of Business Administration program leaders must begin to consider the issue of online technologies in education. Industrial revolution 4.0 is a global trend that will result in new ways of creating value, and novel business models will involve increased collaboration between several different partners in international networks of value creation. Industrial revolution 4.0 cannot be separated from the business school as it mentors its students to tackle with real-world challenges. Business schools are incredible platforms for change in training business leaders to play a direct role in creating economic and social opportunities throughout their regions.

Business schools must consider a range of megatrends affecting business environment, with foremost that of the human demographics, innovation, sustainable development, and technology driving the Fourth Industrial Revolution. The capacity of business schools to change within industrial revolution 4.0 will govern their survival; in order to preserve their competitive edge, business schools must prove proficient in embracing a realm of disruptive revolution and either expose their structures to new levels of efficiency and transparency or face growing discontent. In identifying opportunities into a new model for the Master of Business Administration curriculum, it is important to business educators to seize upon existing megatrends evolving regional economies in new directions. The processes by which business schools may reimagine their curriculum to address these global sustainability challenges have emerged as recommendations for research in scholarly literature, yet few published works have tackled these issues in one package.

Businesses around the world are building entrepreneurial incubators and investment funds to inject capital into ventures that reduce poverty. Businesses and management schools are ill-equipped, it would seem, to counter such threats and to address such challenges in global marketplaces. Climate change is not only a scientific phenomenon but also a business sector one that must be addressed proactively by business leaders and investors. The “supply side” that business schools offer must now match these leading indicators and needs demand from students, businesses, and society at large if they are to remain relevant—and well-funded—in the future. University and business school ranking organizations are already focusing on how graduates lead and empower employees and staff. Emerging business leaders want to focus on the planet before profits and focus on higher purposes than just money.

Future developments within industrial revolution 4.0 over the next decade entail a high level of complexity and uncertainty, particularly in relation to global economics of scale that indirectly have an impact on business schools. Business schools of public universities will need to find other fund-raising avenues to ensure sustainability. Private universities will be afforded far more latitude and freedom to compete, using business models that will not necessarily include a focus on research. International business schools are offering internships and some even guarantee employment with relevant organizations as part of the program. Business schools are required to establish partnerships with businesses so that they can be placed and possibly employed. The uncertainty around the language of sustainability, its misappropriation by self-serving factions, and the emergence of the relational and generative economy make taking decisive business decisions toward positive change for sustainable wellbeing difficult.

This chapter suggests that digitalization creates new price-setting models (PSM) opportunities for business schools due to better and more available data and analytical tools. Future business schools with innovative business models need PSM to align student needs with their own profitability requirements like, e.g., subscriptions, pay-per-use payment models, or outcome-based performance fees using big data analytics and artificial intelligence. Pricing decisions about PSMs intend to increase the price-setting power of a business school. Price-setting power is the ability to increase tuition fees without a negative impact on enrollment, necessary to compensate for cost increases and to charge for added value. Dynamic pricing systems require a fully digitalized business school with high-quality data and sophisticated analytics to meet their expectations. The application of dynamic pricing is possible, because business schools offer their degree programs and courses in advance at a fixed start date, with a fixed price, and a fixed curriculum.

Background: Multicultural teams provide diverse skill sets, and members’ different experiences could through effective leadership be leveraged to improve organizational performance, especially in the agile organization. Effective multicultural team leadership can drive the goals of agile organizations and support their realization. The problem is organizational leaders have a critical knowledge gap on how the competencies and skills of managers can be utilized to improve the effectiveness of multicultural teams. Methodology: This integrative literature review focused on the study of current research findings on managers’ experiences in leading multicultural teams within agile organizations. This study is framed by two key concepts of agile leadership models and leadership emergence in multicultural teams. Findings: This integrative literature review provides in-depth knowledge to formulate new knowledge and recommendations for further research that can be applied to measure the leadership effectiveness of multicultural teams in agile organizations. Managers and leaders of multicultural teams need to have a high intercultural competence to successfully integrate employees with diverse cultural backgrounds in their teams and also to facilitate fruitful communication and knowledge sharing among them using agile management tools. Originality: This integrative literature review can be utilized by future researchers as foundational material in studies to extend theoretical foundations and to extend the results of prior related studies. It has helped to highlight managerial and theoretical implications and to inform recommendations for future research that could contribute to improving the leadership of multicultural teams and, thus, their performance within agile organizations.

Background: Most organizations in high-receiving immigrant nations lack insight into how a bicultural employee’s special skills might be leveraged to improve performance within agile organizations. Biculturals are recognized as an important segment of managers, organizational leaders have a gap in knowledge about this group’s distinctive experiences and the implications of such within their work environment. Methodology: This integrative literature review focused on studying current research findings on bicultural managers’ boundary spanning competencies and multicultural team effectiveness within agile organizations. A wide range of search terms was used to extract and select pertinent literature from numerous search engines and databases, with emphasis on studies published within the past 5 years and high number of citations. Findings: This integrative literature review provides in-depth knowledge for understanding the management experiences of biculturals in agile organizations and the implications of their bicultural competencies and skills in leading multicultural teams. Although many bicultural managers’ competencies and their effectiveness in managing related challenges are influenced by their work environments, they possess understanding of multiple cultures that can enhance team outcomes and complex team-level competencies associated with better performance. Originality: This integrative literature review can be utilized by future researchers as foundational material in studies to extend theoretical foundations and to extend the results of prior related studies. It has helped to highlight managerial and theoretical implications and to inform recommendations for future research that could contribute to improving the effectiveness and performance of multicultural teams within agile organizations.

Biculturals are recognised as an important segment of managers. However, organisational leaders have a gap in knowledge about this group's distinctive experiences. A conceptual case study design was followed through a literature review approach to present the present state of knowledge focused on current research findings on bicultural managers' boundary spanning competencies and multicultural team effectiveness. This study is framed by three key concepts of bicultural competence, boundary spanning, and leadership emergence in multicultural teams. This integrative literature review provides in-depth knowledge for understanding the management experiences of biculturals and the implications of their competencies and skills in leading multicultural teams. Bicultural managers possess an understanding of multiple cultures that can enhance team outcomes and complex team-level competencies associated with better performance. This integrative literature review can be utilised by future researchers as foundational material in studies to extend theoretical foundations and to extend the results of prior related studies.