Hi there. Want to start my blog talking about a very interesting phenomena that I came across during my recent leadership programme at Merck, USA… a phenomenon that the world is a-buzz about, that is cutting across all dimensions and making people sit up and take notice …. V-U-C-A.
VUCA stands for Volatile, Uncertain, Complex and Ambiguous… the kind of situation the all of us are in today, especially the Global Corporate World !! It’s a phrase coined by the US military.
We at MHRF are constantly meeting organizations across verticals, domains facing VUCA. VUCA impacts employees within an organization in a big way!
So, what does the VUCA world stand for ?
- Volatility – The nature, speed, volume, magnitude, and dynamics of change
- Uncertainty – The lack of predictability of issues and events
- Complexity – The confounding of issues and the chaos that surrounds any organization
- Ambiguity – The haziness of reality and the mixed meanings of conditions!
How does VUCA impact us ?
An established statistic states that 75 per cent of companies in existence today will face an incident in the next 18-24 months, which can potentially shut down the company. According to Gartner, of those companies that face these life threatening major disasters, 80 per cent per cent will shut down or go bankrupt in the following
To survive the VUCA scenario Organisations need to develop fast paced leadership skills in order that they can lead their organization/teams to sustained success.
So what can WE do ?
- For Volatile Situations… communicate clearly, ensure your intent is understood
- For Uncertain Situations… get a fresh perspective, be flexible
- For Complex Situations… develop collaborative leaders, stop seeking permanent solutions
- For Ambiguous Situations… listen well, think divergently, set up incremental dividends.
Last and most importantly, accepting the fact that this is reality and getting geared up for it soonest possible !!
Lets stay dynamic and lets stay in business !!