VUCA WORLD

Volatility, uncertainty, complexity and Ambiguity

By – Prashu Dwivedi

July 30 2021
FRIDAY
Meaning of VUCA Situation
• VUCA, short for volatility, uncertainty, complexity, and ambiguity,
• VUCA conflates four distinct types of challenges that demand four
distinct types of responses.
• difficult to know how to approach a challenging situation and easy to
use VUCA as a crutch, a way to throw off the hard work of strategy
and planning—after all, you can’t prepare for a VUCA world, right?
Dealing with VUCA world
ECO SYSTEM
• Could be anything
• When there are multiple player there is an eco- system.
• A business ecosystem is the network of organizations involved in the
delivery of a specific product or service through both competition and
cooperation.
• If looking in financial system – lender, borrower, intermediator.
• Digital payment – seller, buyer, payment bank, payment application.
• building network is really important.
Tactics vs Strategy
• Strategy defines your long-term goals and how you’re planning to
achieve them. In other words, your strategy gives you the path you
need toward achieving your organization’s mission.
• Tactics are much more concrete and are often oriented toward
smaller steps and a shorter time frame along the way. They involve
best practices, specific plans, resources, etc. They’re also called
“initiatives.”
Agility
• The power of moving quickly and easily
• The ability to think and draw conclusions quickly.

Business agility is the ability of a business to realize and sustain its full potential both in
terms of its profits and its people, regardless of internal or external environment
changes. It enables organizations to innovate and deliver more effectively, thus turning
market disruption into competitive advantage, while thriving in complex environments.
Networking Strategy
• Building relationship.
• Using social networks - LinkedIn, Facebook and Twitter
• Remember to reconnect.
• Give before you receive - offer some support, your networking
partner will be grateful and want to return the favor.
• Create win-win situation – ensure you and the other party gain
equally when networking.
• Focus only on the right people