In the course of their studies in Strategic Management, international students of Ostwestfalen-Lippe University of Applied Sciences developed future scenarios in cooperation with ScMI. In this year’s project, the master students focused on determining potential futures for the production environment in the year 2030.
This educational project was not only accompanied by ScMI and Ostwestfalen-Lippe University of Applied Sciences, but by the Fraunhofer IOSB-INA Industrial Automation branch as well which developed the initiative “Smart Factory OWL”. Phoenix Contact further supported the scenario-project as a partner.
The smart factory in Lemgo serves as a patform for scientific and illustrative insights of the Industry 4.0. Potentials of digitalization in production processes can be examined and analyzed. The initiative aims at particularly supporting medium-sized companies in mastering digital transformation processes. The project partners‘ main focus lied in openly discussing with the students the developments of production processes with regard to potential drivers such as digitalization, decentralization and individualization.
Offering this scenario-project provides value and insights for all parties involved. Students are able to recognize the importance of a future-open thinking when it comes to strategic decision-making. Furthermore, they earn valuable insights into methods of scenario development. Practical partners receive the chance to enter an open discussion with passionate students about the future of their business. The results of this scenario process which was presented and discussed by the students in a final lecture were convincing and insightful, leading to an overall successful project.