Ken McPhail is the Head of Alliance Manchester Business School and a Professor of Accounting at The University of Manchester.
The world has changed dramatically since the pandemic. We are navigating a time of rapid social, technological, and environmental shifts. This pace of change is unparalleled since the Industrial Revolution. Business leaders can no longer afford to be passive. They must create bold strategies to shape the future.
In the next 25 years, emerging technologies and ideas will significantly impact our daily lives. Business leaders will need to grasp these shifts, tackling economic, climate, technological, and geopolitical challenges with confidence.
Adaptability is crucial for future business leaders. At our business school, we’re committed to teaching students the skills they need to thrive in a constantly changing environment. Lifelong learning is essential for staying agile and responsive to new developments.
We benefit from being part of vibrant innovation ecosystems. In Manchester, a city rich in innovation history, we connect with local businesses and leaders. This relationship fosters an entrepreneurial mindset and enhances our academic approach. As we approach our 60th anniversary in 2025, this community engagement will continue to shape business and society as a whole.
Embracing Technological Disruption
One major challenge companies face today is the digital revolution. Being close to innovative businesses allows us to see how new technologies are applied in real time. We collaborate with industry pioneers while maintaining an independent stance, providing a critical view on emerging trends. This balance is vital when discussing the adoption of artificial intelligence tools in organizations.
Implementing AI responsibly is a significant challenge. Our position in academia allows us to focus on ethical governance rather than shareholder profit. We guide businesses on these issues while training the next generation of leaders in responsible AI use. From April 2020 to March 2023, 7,600 students enrolled in AI and data science postgraduate courses across the UK. This helps bridge critical gaps in digital skills.
Shaping Future Leaders
Entrepreneurship is key for innovation and change. As educators, it’s our role to cultivate the next generation of entrepreneurs and leaders. We equip students with the skills to build successful ventures that contribute positively to society.
The next 25 years of social change will heavily depend on how we act today. While this may seem overwhelming for professionals and organizations, collaboration among businesses, policymakers, and educators can turn challenges into opportunities. Our collective knowledge and experience will be essential in making entrepreneurship accessible for all.
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