VUCA. What kind of weird buzz word is that? "V" stands for "Volatility", "U" stands for "Uncertainity", "C" for "Complexity" and "A" for "Ambiguity". It is said by researchers that todays businesses are full of VUCA, which is quite true. Well, how do people deal with such situations? Well, let us get back to real-life examples. Look at the first year of growth of a baby. On the first day, it came to this world knowing only to cry for milk. After six months, it learnt to sit. At eight months, it learnt to lean over something and stand. At ten months, it learnt t
o stand independently. Most babies walked when they were one. Well, it was definitely not a cake walk! They learnt it after a lot of tumbling and stumbling. It was their perseverance that led them to success. Now, if you observe and carefully relate it to your workplace, is it not what we call "Learning-by-doing?". Take Corona, for example. When Corona spread, noone knew what to do. Everybody struggled. Slowly, but steadily, everybody got hold of it. It changed so many things around the world. We learnt it and adopted to it. Well, Corona was a VUCA. Every day was volatile, uncertain, complex and ambiguous. Similarly, out at the business world, every new idea is a VUCA. It is volatile because it's in the conception stage and anything can happen to it. So how do we deal with it? Believe in
it. It's your idea after all. Hold on to it tight. It is uncertain because every new idea
has to be brought to the market and market is a volatile and uncertain place by itself. You might have thousand other people making the same idea or you are pioneering it. You don't know, well, maybe not with certainity. What do you do? Go ahead with your idea based on your predictions. Be flexible to correct your course as you go. After all, an idea can never be an established one. An idea is always complex and ambiguous since it is about putting your thoughts into action. How do we deal with this? Well, it's simple. Step-by-step. Go agile. There is this concept of tents and palace that I learnt in my MBA. An idea is always a tent at first. A tent can be very well related to VUCA. How do you work there? Without procedures, without rules and step-by-step. Once it is fully developed and launched and sees the light of success, it becomes a palace. A palace has always procedures, guidelines but also an awful lot of competition. You can imagine this as an S-Curve. A Palace is always at it's saturation (at the top of the curve). You will soon need a new idea and where do you start? At a tent (bottom of the curve). And this is a cycle that keeps repeating. Find your own rythm but it has to be in sync with others for you to build your palace!
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