The 5th in­dus­tri­al re­volu­tion in full swing - busi­ness lead­ers pre­pare

The 5th industrial revolution is in full swing, and enterprising business professionals are grasping advanced technologies like AI powered robots, in order to reach cemented sustainable development targets. The value of digitalising is indisputable, leading to increased productivity and agility, improved customer experience, employee satisfaction, and maintaining competitive advantage.

“Today six out of the ten highest valued companies in the world are digital companies. Digitalisation is also what companies are pursuing in almost every innovation process. It’s also where the majority of spending goes for companies leaning towards innovation and increasing sustainability,” says Stefan Henningsson a Professor in the Department of Digitalisation. He teaches IT strategy and digital innovation on the MBA, EMBA and Executive Certificate programmes.

The Copenhagen Business School Department of Digitalisation

The Department of Digitalisation holds some of the brightest academics in the cross fields between IT and business and its research has been published in the eight most trendsetting academic journals at the intersection of IT and business. In the latest ranking of the “Top Rankings of Schools in the ‘basket of eight’ (Bo8) journals”, covering the past three years, CBS is ranked number one in Europe and number four in the world.

The department consists of 60 full time academics, making it the largest of its kind in Europe. The department focuses on how digital technologies are developing business and society via teaching, research activities, externally funded research projects and ongoing consultations with external partners.

“When we are teaching or consulting on artificial intelligence, for example, we can source an expert from the department that is not only an academic expert but has the practical know-how expertise specifically in that area.”

The department has been engaged in a range of different research and development projects that transforms society with the help of advanced technology. For example, the building of a cybersecurity simulator for training of board members, the use of virtual reality in the Danish design industry, and employing digital technologies to enable a circular economy. Researchers from the department also engage with specific organisations to further their digital ambitions, including LEGO’s adoption of digital platforms, NETS and the future of money, and FOSS’ exploration of how technology and data can foster a green transformation throughout the entire food supply chain.

The Digitalisation Concentration

Through a two-week digitalisation module, participants of the EMBA and MBA programmes and Executive Certificate path, business professionals are enhancing their digital leadership and digital capabilities.

“It is a strong point that CBS has both the mandatory digital learnings throughout the EMBA and MBA and the chance to go even deeper with the concentration in digitalisation where the many facets of becoming a truly digital company are explored. This sets us apart from most other universities,” says Stefan Henningsson.

In the classroom, participants range from those with little experience to experts in the field like data scientists and digital transformation managers.

“There is no ivory tower. We learn a lot from everyone in our classes through dynamic projects and interactions, even the most digitally informed participants report back with new fundamental learnings that they then implement. What is key is that we teach successful leadership strategy to all participants. At the very least, they learn the soft management skills within digitalisation, this is critical for any business leader.”

Through the digitalisation concentration, some participants have pivoted their career to work directly in the space.

During the course, participants learn about what makes digital technologies valuable, wiring an organisation for the digital age, leadership strategy of successful companies in the digital age, how to use AI in an organisational context, cybersecurity and how to build resilience against attacks and the leadership of digital innovation.

What is taught in the curriculum of the MBA programmes' digitalisation courses are different from one year to the next, reflecting an industry that is continually growing and adapting.

The global investment in digital transformation is expected to nearly double between the years 2022 from 1.8 trillion U.S. dollars and 2025 to 2.8 trillion U.S. dollars. Digital transformation is the highest priority for 74% of organizations and 87% of business leaders suspect that digital transformation will disrupt their industry.

Digitalisation in Denmark

“Digitalisation is a unique career because it’s extremely fast growing. It’s not like other roles where one person leaves a position and is replaced by another. Novo Nordisk is creating 500 new jobs in the digitalisation category and Maersk has expanded in capacity to 3,000 jobs associated with digitalisation.”

Novo Nordisk and Maersk are the largest company holders of market capital in Denmark. Novo Nordisk’s digital strategy is to transform all levels of business, from research to developing new treatments to how they partner with start-ups and institutions. Maersk has been established as a digital frontrunner in the tanker industry with aims to streamline existing processes and transform supply chains.

In fact, in the IMD World Digital Competitiveness Ranking, which measures the capacity and readiness of 63 economies adopting and exploring digital technology as a key economic driver for business, government and wider society, Denmark is number one in Europe and number three in the world.

The majority of transactions, health appointments, touchpoints with Danish authorities and more are carried out online. Tech giants like Apple, Google, and Facebook are investing in data centres in the area due to the supply of renewable energy and optimal fibre broadband infrastructure.

“It’s a great career opportunity to specialise in digitalisation and it’s essential for leaders to harness the soft people management skills that digital transformation requires. At the end of the day, digitalisation is important because it allows us to do things differently.”