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Saturday, July 29, 2017

The VUCA Age



Yesterday, I visited one of the financial institutions at Wangdue to do some domestic transactions. It took me with a surprise for taking almost an hour to observe one man’s job getting done. The service was at damn snail’s pace.  
That waiting hour was adequate to heat my temper chamber. So, I resorted giving my token to a man sitting next to me and drove towards Khuruthang to continue the work. Eventually, it was done.
I realized that the public services next to the doorsteps are seldom unpredictable and inadequate in exercising their functional duties.
But more than anything else, amidst the myriads of questions that cropped up, I kept wondering if our financial institutions or public institutions for that matter were aware of that VUCA factor in the world of work.
The credit for the etymology of this VUCA acronym goes to the U.S. Army War College. But today, this military vocabulary is extensively employed in the fields of business conglomerates and educational enterprises due to its strategic insight and concept for managing the present and concerning the future. 
Image Courtesy: Click LINK
VUCA stands for Volatility, Uncertainty, Complexity, and Ambiguity.
Volatility stands for an unpredictable pattern and dynamics of change in terms of its nature, speed, volume and magnitude. As the world gets exposed to an increasingly faster growth of globalization, digitalization and commercialization each day, it pushes our world of work further into more complex settings. Under such systematically volatile system, change is thus, an inevitable but certain outcome. The rate of change today is much faster and different than ever before. Accordingly, reinventing a working system with a strategic vision that is resilient, dynamic and adaptable has to be in place to answer such problems.
In a move to build such flexible and malleable system, organizations have to look beyond in finding a new approach to optimize its productivity. Critical to the success of steering its productivity exponentially for any business is giving equivalent efforts in considering customer feedback and understanding available competitors in the business market. When there is lack of clarity or lapses in understanding such complex systems, organizations are undoubtedly doomed to fail miserably.
This is predictable in our systems which are complexly formed of people from diverse background, education, culture and beliefs that are intensely interconnected and interdependent. The organizations that cater to such diversity have to focus on surrendering any ineffectual strategies to emphasize on creating enabling conditions to boom their business. There is no room for that traditional belief or complacency characteristics of assuming their business to be doing OK without having clear sense of such complexity. In an attempt to thrive the success of organization, the network of chaos that maximizes the likelihood of creating the public nuisances and curtails the general progress of the institutions has to be sorted out neatly.  
Such act of understanding the cause and effect relationships, and being open to conceptualize threats and opportunities can clear the ambiguous path of the institution. When such vagueness is resolved, so many contextual events can flow in place. Designing an improved but newer and faster way of delivering service after welcoming every public outcry will only upsurge the number of customers by leaps and bounds.      
It is crucial in business world to accept customer satisfaction as the cause to success of any organization. But the VUCA concept is more so important in preparing the entity to respond to the fast changing environment and drive for the change.
But it depends on how we buffer the effect of such changing landscapes in the complexly fast emerging world.  
 “Back in 1958, a company could expect to stay on the list for 61 years. These days, the average is just 18 years”
Antonio Regalado MIT Technology Review

1 comment:

  1. How I wish the business analysts would consider people (their needs and their satisfaction) BEFORE profit.

    ReplyDelete

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