22 October, 2018, Bengaluru:
The land of Karl Marx and Albert Einstein – Germany, at first mention, might be conceived as a region of phenomenal engineering capabilities with organized labor unions, but it is slowly trying to outgrow this reputation and be the torchbearer of the new economic realm.
The classroom was perfectly set with 40 candidates from 12 top universities of the world including Yale, IE, and EGADE, to discuss the rather complex topic, ‘Germany 4.0: ‘Mittelstand’ and Entrepreneurship’.
A city which brought down the Berlin Wall has once again set course to take on the challenge in the field of Industry 4.0. Aligned with the criticism of many scholars about the capability of large elephants to deliver innovation, ESMT is beckoning the new age of Industry 4.0, through its hidden champions in its Mittelstand, or mid-sized companies. The live projects presented us the opportunity to apply the concepts of design thinking in developing a commercial solution for a similar company, trying to reinvent their understanding of stakeholders. The Global Network Week also presented us an opportunity to exchange our ideas with several champions and understand the trade-offs of their business.
The perfect timing of the Global Network Week allowed us to witness the magnificent festival of lights in Berlin and appreciate Germany’s rich culture, from which it derives the strength to undertake this mammoth task of ushering Industry 4.0 by leveraging its huge base of medium-sized companies.
The Global Network Week at ESMT provided us with an opportunity to widen our perspective of Industry 4.0 and exposed us to some of the challenges that lie ahead. Last but not the least, it has been a great opportunity to network with bright minds from across the globe.
