Welcome to the game of V.U.C.A.
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V.U.C.A. is a new game to take Decisions and Define Strategy.
V.U.C.A. is about the theory and strategy to identify and deal with an Individual’s and an Organization’s failure, its causes, and associated behavior/patterns.
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The certain meaning and relevance of VUCA repeatedly relate to how individuals view the circumstances under which they make decisions, plan forward, manage risks, foster change, and solve problems. In common practice, the four terms are interrelated with each other.
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Here is the pictorial representation of individual elements of the concept of VUCA.
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■ VUCA is an acronym – first used in 1987, drawing on the leadership theories of Warren Bennis and Burt Nanus – to describe or to reflect on the volatility, uncertainty, complexity, and ambiguity of general conditions and situations.
■ The certain meaning and relevance of VUCA repeatedly relate to how individuals view the circumstances under which they make decisions, plan forward, manage risks, foster change, and solve problems. In common practice, the four terms are interrelated with each other.
■ VUCA is about the theory and strategy to identify and deal with an Individual’s and an Organization’s failure, its causes, and associated behavior/patterns.
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Here is the elaboration of the acronym – VUCA in 4 X 4 Points.
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■ Nature of Change
■ Dynamics of Change
■ Speed of Change
■ Catalyst of Change
■ Volatility means the speed of change in a business, marketplace, industry, and society. It is associated with fluctuations in demand, turbulence, and a short time for markets. The more volatile the situation is, the more and faster things change.
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■ Lack of predictability
■ Prospects for a surprise
■ Sense of awareness
■ Understanding of concerns
■ Uncertainty means the extent to which we can confidently predict the future. Uncertainty is associated with people’s inability to understand what is going on. Extremely uncertain environments are those that don’t allow any prediction. The more uncertain the situation is, the harder it is to predict.
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■ Multiplex forces
■ Contradictory concerns
■ No cause-and-effect chain
■ Confusion and Communication gap
■ Complexity means to the number of factors that we need to consider, their diversity, and the connections between them. The more factors, the greater their variety, and the more they are interlinked, the more complex an environment is. Under extreme complexity, it is difficult to completely evaluate the environment. The more complex the situation is, the harder it is to analyze.
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■ Fogginess of reality
■ Potential for misinterprets
■ Mixed meanings of situations
■ Diversified source of information
■ Ambiguity means a lack of clearness about how to interpret something. A situation is considered ambiguous, when information is incomplete, contradicting, and/or inaccurate to get any transparent conclusions. Commonly it implies fuzziness and vagueness in concepts and statements. The more ambiguous the situation is, the harder it is to interpret.
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Welcome to the game of V.U.C.A.
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A knowledge artifact by -?KULDEEP KAUSHIK
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