Arkadiusz Mironko, associate professor of Management and Entrepreneurship at Indiana University East, delivered the keynote address at the Rajagiri Management Conference (RMC’24), held at Rajagiri Business School in Kochi, India.
The conference, themed “Innovate to Elevate: Advancing Management Excellence Across Functions,” served as a forum for thought leaders, academics, and industry experts to explore the transformative impact of technological advancements on management practices.
His presentation, “The Autonomous Vehicles Revolution: Navigating Business Models and Ownership Strategies Towards Management Excellence,” provided an in-depth exploration of the disruptive impact of autonomous vehicles (AVs) on various industries and business models.
Mironko’s lecture specifically addressed critical questions such as: “What is the future of AVs adoption across different generations and education levels?” and “What new business models will emerge?” He delved into the policy issues, risks, and major economic and development changes posed by the integration of AVs.
He also discussed how AVs are transforming traditional ownership and employment models, with particular emphasis on the following innovative business models:
1. Autonomous Delivery Services: AVs are already revolutionizing last-mile delivery in urban areas, with fleets of autonomous vehicles delivering goods directly to consumers’ doorsteps.
2. Shared Autonomous Vehicles (SAVs): The shared ownership models enabled by AVs could drastically change how people access transportation. SAVs offer opportunities for carpooling services and co-ownership arrangements, with revenue generated through membership fees and usage-based pricing.
3. Fleet Leasing and Management: Businesses can leverage autonomous vehicle fleets for transportation needs, with AV providers offering end-to-end fleet management services, generating revenue through leasing fees or service contracts.
4. Insurance Models: Who will be responsible in case of an accident? The shift to AV technology will necessitate new insurance models, including usage-based and cybersecurity insurance, offering specialized policies tailored to AVs’ unique risks.
Mironko’s presentation underscored the dynamic changes that AV technology is bringing to the global business landscape, offering insights into how organizations can navigate these changes to achieve management excellence.
The IU East School of Business and Economics also offers a course on “Economic Growth, Global Competition, & Entrepreneurship: India” combining on-line instruction with about ten days of travel and learning components in India. This exploration allows students to broaden their learning and international business horizons.
