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This book examines volatility, uncertainty, complexity and ambiguity (VUCA) and addresses the need for broader knowledge and application of new concepts and frameworks to deal with unpredictable and rapid changing situations. The premises of VUCA can shape all aspects of an organization. To cover all areas, the book is divided into six sections. Section 1 acts as an introduction to VUCA and complexity. It reviews ways to manage complexity, while providing examples for tools and approaches that can be applied. The main focus of Section 2 is on leadership, strategy and planning. The chapters in this section create new approaches to handle VUCA environments pertaining to these areas including using the Tetralemma logics, tools from systemic structural constellation (SySt) approach of psychotherapy and organizational development, to provide new ideas for the management of large strategic programs in organizations. Section 3 considers how marketing and sales are affected by VUCA, from social media’s influence to customer value management. Operations and cost management are highlighted in Section 4. This section covers VUCA challenges within global supply chains and decision-oriented controlling. In Section 5 organizational structure and process management are showcased, while Section 6 is dedicated to addressing the effects of VUCA in IT, technology and data management. The VUCA forces present businesses with the need to move from linear modes of thought to problem solving with synthetic and simultaneous thinking. This book should help to provide some starting points and ideas to deal with the next era. It should not be understood as the end of the road, but as the beginning of a journey exploring and developing new concepts for a new way of management.
Dedicated to Professor Peter Buckley, OBE, this volume of Progress in International Business Research explores the new challenges for MNEs, SMEs (small and medium sized enterprises) and INVs (International New Ventures) emerging from this changing and increasingly unpredictable political, economic, social and technological VUCA world.
This book presents a selection of the best papers from the 17th International Conference on Business Excellence, “Rethinking Business: Sustainable Leadership in a VUCA World” (ICBE 2023), held in Bucharest, Romania, in March 2023. In today's rapidly evolving landscape, characterized by volatility, uncertainty, complexity, and ambiguity (VUCA), the need to reshape business practices has become paramount. The book showcases research findings and perspectives on the new challenges particularly posed by the digital economy and research systems. Focusing on revolving business and developing sustainable leadership, it offers valuable insights into the present context of global crisis, together with solutions for the real-world challenges we face today.
Many have quit on strategy, as they think the world is changing so quickly that there's no point in planning anything. Go with the flow-surf the wave. Stay alive, and all the rest will come.They're wrong. It's ok to keep driving forward, but at some point, you'd rather know where to go. Or maybe take it from another perspective: your clients like it when they see you have a purpose, clear goals, a direction, values, and principles, whichever they are. And they usually tend to reward that with some loyalty, even though it is only for a while.It's always good to bear in mind key concepts and rules of thumb coming from experience. Some of them are not in the books, but they've been basically the same for ages. In this sense, don't get distracted by the fireworks of technology. Maybe everything is changing, but in many ways, the essential things are only taking new shapes but remaining the same in essence.Keep looking at, and trusting, an updated version of the old concepts: mission, vision, value proposition, competitive advantage, business model, substitutes... At least, they will force you to ask a lot of questions, which in the end will be very good to have a healthier business.In the 20th Century, the keyword was (hashtag) competition; the most important thing was to win, to beat the opponent. The powerful position was the pyramid's cuspid, and the higher you climbed, the harder the wind blew.Things have changed in the 21st Century. The keyword is (hashtag) cooperation, or collaboration. The magic potion is the network. It's time to share and harvest the value of collaboration. The most powerful position is in the nodes of much more horizontal structures.If we called capitalism to the economic system born out of the first Industrial Revolution, the economy and society we are building today should probably be called Networked Technology Era. The Age of Networks, or something similar.And guess what? People will surprisingly remain to be at the center of this new paradigm. Because we're still necessary to make the world go round. At least, for a while, we'll see what the 22nd Century brings.
The challenge of achieving sustainability is complex and multifaceted, with varying approaches and policies across different countries and industries. This lack of universal standards poses a significant obstacle to the global transition towards a sustainable future. The COVID-19 pandemic has further exacerbated these disparities, highlighting the urgent need for cohesive and practical sustainability strategies. What sets Green Transition Impacts on the Economy, Society, and Environment apart is its comprehensive and unique solution to this pressing issue, offering a unified framework for sustainability that can be applied across diverse contexts. By gathering insights and approaches from researchers worldwide, this book provides a holistic view of sustainability, addressing critical issues such as climate change, energy security, and social responsibility. It offers practical solutions and case studies demonstrating effective strategies for achieving sustainability goals. Through this approach, the book aims to equip policymakers, practitioners, and researchers with the knowledge and tools needed to navigate the complexities of sustainability in the 21st century.
Dedicated to Professor Peter Buckley, OBE, this volume of Progress in International Business Research explores the new challenges for MNEs, SMEs (small and medium sized enterprises) and INVs (International New Ventures) emerging from this changing and increasingly unpredictable political, economic, social and technological VUCA world.
In a volatile economic climate characterised by various challenges and changes at every turn, organisationss must adjust their management system in order to preserve or even grow their productivity and competitive edge. All operations carried out inside an organisation are based on a sequence of interdependent managerial decisions that set the aims and modalities of activity, guaranteeing economic-financial balance. The activities carried out inside a company frequently change as the conditions and characteristics of the business environment undergo alterations, necessitating the updating of decision-making procedures. As a result, company personnel must be prepared to arrange their activities in a volatile, unpredictable, complex, and ambiguous world - the VUCA world.
This volume contains 27 papers in all. The papers included in this volume provide various facets of the management perspectives in the field of human resources, corporate governance, sustainability, entrepreneurship and gig economy, among others. Admittedly, in a multi-author book such as this, a divergence of topics and issues as well as views on a given topic or issue is inevitable. The book encompasses in its fold a wide range of business and policy issues in the Indian setup. Further, in view of the fact that the various papers included in the present volume are authored by researchers with diverse interests and backgrounds, it is not surprising that each paper may look unique even in terms of its structure of presentation, too. In such a situation, the editor’s dilemma should not be difficult to imagine for the reader. As editors of this volume, therefore, we deliberately preferred to keep the author’s style, arguments or conclusions, intact. In more precise terms, the papers included in this volume are largely in their original form and content. Although we, not being completely oblivious of our editorial responsibilities, have attempted some cosmetic aesthetics here and there in respect of some papers.
Offering a practical and phenomenon-driven perspective, Strategy in a Turbulent Era expertly analyses questions relating to strategy in light of different forms of turbulence. From the global COVID-19 pandemic outbreak to the escalation in number and far reaching implications of new technologies, such as artificial intelligence and cryptocurrencies, this timely book explores how recent sources of turbulence are rapidly transforming the nature and dynamics of global competition.