VUCA

Somedays back I came across a new term VUCA (Volatile, Uncertain, Complex, and Ambiguous) which supposedly characterizes present economic environment worldwide.

What might a VUCA environment mean for mindset a company adopts to deal with environment?

On one hand, it could trigger fear and lead to ‘defending your territory’ actions.

On contrary, companies could start focusing on becoming better at adapting to change.

But companies could also choose path of seeing change as an opportunity – and pursuing, shaping, and exploiting these opportunities.

Which option should your company choose?

I think answer is context specific.  Answer could be different for different companies and different for same company at different points of time.

Intuitively though, principle of ‘if you can’t avoid something it might be better to enjoy yourself at it’ might be applicable here.

So 3^rd option – of seeing ‘change as an opportunity’ – might be better go-to option in most cases during these ‘VUCA’ times.

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Sourav