Managing in a VUCA world
The world has become increasingly difficult for business. This requires new strategies to manage volatility, uncertainty, complexity and ambiguity. Dr Sue Shortland discusses how to approach these issues in organisations today.
While the term VUCA has gained currency today, it is important to look at each component – volatility, uncertainty, complexity and ambiguity – as these differ in meaning and characteristics. Hence, the strategies that can be used to address doing business in the VUCA environment will reflect the specific characteristics of each term.
Volatility
We are currently in a very volatile business environment. The characteristics are those of unexpected challenges and unstable environments. Any changes that take place are also likely to be of unknown duration. The aspects of doing business in such environments are not necessarily difficult to understand and information needed to manage the situation can be available but preparedness for the events may not be in place.
…Read the rest of the article here on our sister website Relocate Global
