HOW MARKET LEADERS NAVIGATE IN VUCA WORLD

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     VUCA, an acronym coined by US army to describe the world they were facing post-cold war is highly relatable if one compares it with the business environment prevailing in 21st century. Gone are the days when the environment in which a business is operating is stable, controllable and certain. Today a Managing Director sitting in his cabin has to be always cautious since he is clueless what is going to happen next. Nobody in this world even a person with amazing psychic cannot predict what is going to happen in next micro-second or in next century, the world is VUCA-Volatile, Uncertain, Complex and Ambiguous. 
     Like every coin has two sides this VUCA world also comes with plethora of opportunities and at the same time challenges, which one could never imagine of. No wonder it’s a hard nut to crack, if a business wins it conquers the throne, the key point here is what they do to gain such a good command over all these odds. Only thing that makes a business operating in this VUCA world survive and stand out in the crowd is how quickly they can adapt to the changes in internal as well as external environment. A business cannot keep offering the same product which it used to offer 10 years ago, the nature of consumer demand is changing. The market leaders are the ones who are closely monitoring what a customer wants and are offering what the customer wants not what they want to offer. It’s no longer about running behind an extra ordinary goal in a crazy way it is more about setting up SMART goals and achieving it with excellent planning and execution, meanwhile it is important to keep an alternate plan ready and adopt Just In Time strategy. The world is moving fast, pioneers of market are adopting Just In Time strategy, shortage of resources has forced them to think of and implement ideas to use the available resources to its optimum level. Agile leaders embrace system thinking, build trust, learn quickly, ask questions and embrace change.
     Sitting back on their heels and waiting to see how situations develop is undesirable and is not going to yield any results. Agile leaders have the capability to face challenges and manage the VUCA world with their ability to connect, adapt and deliver, they can win over with these distinct abilities without compromising with the performance and this is what makes them distinct

Comments

  1. Raj ThevarOctober 27, 2019 at 9:52 AM

    Business owners need to be alert 24 * 7 these days. Keep writing Sindhu !

    ReplyDelete

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