‘Bleeding-edge’ Business Education Lynchpin Business Model 4.0

Abstract

Through this research article, we appeal to all the educational policymakers, leaders,and educational actors to promptly revamp the existing educational models and harness thechangesassociatedwithIndustry4.0.Afterasyst ematicliteraturereviewonIndustry4.0readiness models, we designed the ‘Bleeding-edge Business Education Model’ which we prescribe to aneducationalecosystemtofosterintrapreneurshi pwithmetaskillsforIndustry4.0[1].Thisproposedmodel is a lynchpin for the Industrial Revolution 4.0. We deployed a design-based researchmethodology to conceptualize this Business Education Model. We audit the existing BusinessEducation model to find out the gap and portrayed our succinct and robust model in the ValueProposition Canvas tool which reflects the key areas of our Business Education Model and givesthe visual format for assessment of its key metric of operations and deliverables. Industry 4.0readiness model exhibits the six most basic dimensions of any organization viz. Technology,People, Strategy, Leadership, Process, and Innovation and gauge the readiness in terms of human resource competencies to work on Industry 4.0 technologies and innovations with resilience. The characteristicsofthe4thIndustrialRevolutionwere ordainedtorevampBusinessEducationModel tolynchpintheaxleofBusinessModel4.0throught he‘onlyintellect’dimensioni.e.peoplewho are the key-drivers to put other dimensions of the organization inaction. According to the Futureof Employment report (2018-19), 47 percent of total employability is in the high-risk category.Particularlymanagementgraduates’une mployabilityisduetolackofmetaskillsofIndustry4.0,andthe latent variablebehind thisisconventional ‘Business Education Models