Thriving in a VUCA world

 

What is VUCA?

VUCA is a concept that was introduced by the students at the US Army War College after the Cold War between the United States and Soviet Union.

What does VUCA stand for?

VUCA stands for,

• Volatility 
• Uncertainty 
• Complexity 
• Ambiguity 

Then what does VUCA look like for a business? 

Volatility - The changes and fluctuations take place at a constant pace.

Uncertainty - Inability to predict different situations or events that can happen.

Complexity - Difficulty in understanding and managing the context formed by the laws of cause and effect.

Ambiguity - Difficulty factor thrown by the relationships between the different elements or individuals that make up an environment.

So are we living in a VUCA world?

Of Course yes. Today's world is all about changes. Economics, technology and politics continue changing rapidly and individuals struggle to keep up. The current pandemic situation has also created unprecedented challenges towards individuals. Therefore it is clear that we are living in a world filled with Volatility, Uncertainty, Complexity and Ambiguity.

Then how can individuals thrive in the chaos of a VUCA world?

Lets investigate how to combat VUCA separately.

Volatility - By providing 'Value Through Vision.' Leaders often focus on daily minutia of the organization. So they will loose their sight of the organization's overall vision. By positioning thier organization well, one can bring value by helping their customers, or their own organization, regain or develop their vision.

Uncertainty - By 'Understanding Through Unique Experiences.' We all have unique experiences that shaped us into who we are today. Taking time to listen, ask relevant questions, and seek to understand the problem allows an individual to draw from their unique experiences and work to provide understanding and thoughtful insights.

Complexity - By providing 'Clarity Through Collaboration.' Collaboration in its most real sense is two or more people working together towards shared goals. Working along with first two point; understanding and creating vision makes an individual to engage with their clients in a more collaborative manner, and will also leads towards their shared goals. By drawing on unique experiences, one can provide clarity that chips away the complexity piece by piece.

Ambiguity - By 'Action Through Agility' . Having an agile mind-set allows individuals to pursue a goal in a way that is adaptive, flexible and responsive.

Also a world famous psychologist Dr.David Smith once discussed in an interview about the types of individuals who are best suited to a VUCA world. He calls them the 'Learning Agile.' These people are flexible, adaptable and love new experiences and opportunities as said by Dr.David Smith. To recognize such individuals, Dr.David Smith identified nine behaviours that contribute to learning agility.

These behaviours are,

1) Flexibility - Open to new experiences and adaptable to new processes.

2) Speed - Quick on their feet when learning new ideas or methods.

3) Experimenting - Open to trying out new methods or ideas.

4) Performance Risk Taking - Enjoys challenges.

5) Interpersonal Risk Taking - Unafraid to ask assistance when needed.

6) Collaborating - Works well with others.

7) Information Gathering - Always looking to learn and grow.

8) Feedback Seeking - Requests feedback in order to improve.

9) Reflecting - Reflects on their work to understand effectiveness and identify ways to improve.

On the other hand thriving in a VUCA world also requires an understanding of Megatrends.

The four major Megatrends are,

1) Rapid Urbanization
2) Changing Demographics 
3) Hyper Globalization 

4) Accelerated Innovation

The concept of VUCA may be new to some, but it is not new to this world. How an individual choose to handle this concept makes all the difference and assures his position.

So to make you all aware what it takes to thrive in the chaos of a VUCA World, we planned the project "Thriving in a VUCA World". 

We successfully conducted the First phase of this project  On 6th of August 2021 from 7pm onwards through zoom platform. 

Mr.Shukri Salman who is a Entrepreneur, Lecturer and Executive Director of MT Studio,  conducted the session & he gave all the participants a complete knowledge about VUCA and also how to thrive in VUCA World. We have more exciting sessions planned just for you. Stay Tuned!

Lets strive continuously, look for new ways and cut through the noise of Volatility, Uncertainty, Complexity and Ambiguity.

Penned By
- Rtr. Onaliy Jayawardana