4.0 VUCA (VOLATILITY, UNCERTAINTY, COMPLEXITY AND AMBIGUITY) LEADERSHIP.

Industry 4.0 implementation is growing fast due to the rapidly evolving nature of business which focuses on the combination of automation and data exchange to establish new communication protocols between humans and machines. In other words, all components of a system, including machines, workers, computers and customers, are automatically interconnected to generate the 'big data' which is used for making decisions in the complex Industry 4.0 environment. Such new communication protocols will redefine the business game and will also bring elements of volatility, uncertainty, complexity and ambiguity (VUCA) to a firm. This large-scale technological transformation will require different approaches to management and leadership. As a result, there is an urgent need to address new leadership skills which can enhance capabilities for complex decision-making. In this study we conduct a review of literature from 2010 to 2020 focusing upon the main challenges for leaders in this transition and the critical factors which leaders must address in order to enhance their decision-making quality. Major decision-making factors arising from literature are data overload, management style, risk acceptance, power, leadership qualities and competencies, availability of resources and organisational culture. [ABSTRACT FROM AUTHOR]