Business Research in the VUCA World

The purpose of this issue is to invite articles on the VUCA theme (Volatility, Uncertainty, Complexity, and Ambiguity), relevant to various crises. For example, the COVID-19 health crisis across the globe has affected many occupations leaving a double folded impact. VUCA is an opportunity for a few business organizations to realize their worthiness and an opportunity to revive their strategies to sustain themselves. VUCA is also an opportunity for business leaders to examine their abilities and leadership skills. Unpredictable environments give rise to more opportunities. Leadership skills can be mastered in the VUCA environment, as managers get ready to restructure and rethink the way of conducting business. This issue has accepted six articles from various fields of studies, which include Leadership, Entrepreneurship, Human Resource Management, Marketing, Consumer Behaviour, and Services Marketing. All the articles underwent a sequence of the review process and then were finalized for publication. This issue is rich in new ideas and gives opportunities for readers to access new information. All the articles have also contributed to a larger social impact, contributing to various stakeholders

Landscapes of our uncertain futures: Towards mapping and understanding crisis-related concepts and definitions

This report "Landscapes of Our Uncertain Futures. Towards mapping and understanding crisis-related concepts and definitions" is published as a result of a literature review and related conceptual analysis conducted within the RESCUE Project (Real Estate in Sustainable Crisis Management in Urban Environments). In early stages of the project it became evident that in order to achieve efficient results in research and policy action efforts for sustainable urban development and crisis management, mutual understanding of key concepts and their definitions is needed. This is because identifying and grasping the major phenomena at play in our turbulent world – crisis society – may be varied, and besides there are several different definitions of them used in the literature. If, however, preliminary discussions and analyses can open up the contents and meanings of such phenomena, joint work and concluding recommendations are supported and expedited on the basis of shared understanding. A key theme in this conceptual analysis is 'crisis' and crisis-related phenomena, within the framework of the now present VUCA world. The landscapes of our uncertain futures are thus depicted, and replenished via a literature review and its key findings. These insights are meant to help paving the way for the process of creating resilient cities

Clarifying the conceptual map of VUCA: A systematic review

Purpose – Over the last few decades, the environment for organisations has been frequently described using the acronym VUCA: a volatile, uncertain, complex, and ambiguous environment. Despite the popularity of this acronym, it is not unusual to find some overlap concerning the meaning of those terms, as well as poor definitions of each in the literature. Consequently, the main aim of this paper was to conduct a systematic literature review to obtain a conceptual map of the components of VUCA and their relationships and to highlight some avenues for future research. Design/methodology/approach – We conducted a systematic review of various databases between 1999 and 2021. A total of 833 papers were identified and 26 of them met the inclusion criteria for the current study. Findings – The subsequent analysis revealed several overlaps and relationships between the four terms. Based on this analysis, we propose a conceptual map that could serve as a basis for future research and practice. Research limitations – Due to the exploratory nature of the study and the scarce number of empirical studies, the impact that the use of the VUCA framework has had on businesses could not be addressed. Originality – By clarifying the different components of VUCA and specifying the relationships between them with a comprehensive conceptual map, this paper may contribute to more rigorous empirical research, as well as help managers and executives more effectively deal with turbulent environments.info:eu-repo/semantics/publishedVersio

Black Swan to Phoenix: The Role of Dynamic Capabilities, Ambidexterity and Corporate Insight

The paper presents the position that in times of Black Swan or other unforeseen or unprecedented events the path to survival is not the sole function of the company’s strategy. While much has been written about the need for companies to alter or adapt their strategies in face of such events, doing so is easier said than done. In fact, strategy is foundational and a function of and subject to the capabilities of the company. That there is no real strategy or strategy altering approach for preparing for a Black Swan like event. The paper provides insights and alternative view of how best companies can survive, and even prosper in the face of such events. Rather, it is the company’s ability to reconfigure its capabilities and resources. Utilizing the lenses of Dynamic Capabilities, Ambidexterity and Corporate Foresight, the paper posits that when these orientations are taken in combination, provide a company a robust approach for managing the path forward. The paper presents the position that failing to focus on these orientations will result in the company’s inability to works its way through the event and remain ‘stuck on the pond’ with all the swans

Interculturally effetive people within organizational wide agility anda science fition as testing ground. Star Trek Voyager as case study

Versão Final (Esta versão contém as críticas e sugestões dos elementos do jurí)O trabalho que se apresenta procura estabelecer relação entre o que é preconizado como uma Pessoa interculturalmente eficaz e como isso pode ser potenciado no âmbito dos negócios. Para esse fim, o Capítulo I introduz termos relacionados com eficácia intercultural e expressa as razões por que há uma necessidade crescente de pessoas cientes da eficácia intercultural. Em seguida, no Capítulo II, algumas ferramentas relacionadas com agilidade e seus respetivos valores utilizados nos negócios são apresentados, e que são Agile, Sociocracy, Beyond Budgeting e Open Space, bem como uma teoria sincrética - BOSSA - que juntos podem apoiar a prestação de Pessoas interculturalmente eficazes num ambiente de negócios. Para terminar, no Capítulo III a Ficção Científica é trazida à colação como possível campo de teste para a eficácia da agilidade em potenciar a interculturalidade nos negócios. Aqui a Star Trek Voyager é apresentada como um possível ambiente movido pela agilidade.The work presented tries to establish a connection between what is professed as an Interculturally Effective Person and how it can be strengthened within business. To that end, Chapter I introduces terms related to intercultural effectiveness and expresses the reasons why there is a growing need for people to be aware of intercultural effectiveness. Then, in Chapter II, a few agility related frameworks and their respective values used in business are presented, which are Agile, Sociocracy, Beyond Budgeting and Open Space, as well as a syncretic theory - BOSSA - that together may support the provision for Interculturally Effective People in a business environment. To end, in Chapter III Science Fiction is brought to the fore as possible testing ground for the effectiveness of agility in potentiating interculturality in business. Here Star Trek Voyager is presented as a possible agility driven environment

Approaching VUCA Environment with Enterprise Agility in Government Organization : Case Business Finland and COVID-19

As we live in a VUCA world, many have experienced what crises can cause in business life. To be resilient and thrive in this increasingly volatile, uncertain, complex, and ambiguous world, top companies are gaining sustainable competitive advantages by embracing agility at scale. Those that fail to keep up with the rapid pace of change risk falling behind the competition. However, with crises come opportunities for change. Businesses of all sizes have never sensed so much pressure to make their business models fit changing requirements. This study aims to discover how a government organization embraced enterprise agility when the global pandemic (COVID-19) added another dimension to the already VUCA environment. Of particular interest is how the role of a public organization has affected a company’s agility in such a dynamic environment and what kind of capabilities are essential for agility. The study constructs a tentative theoretical framework based on existing research on a dynamic environment and enterprise agility considering the public context. The framework outlines the foundation for the exploratory qualitative case study on a single case from Business Finland, a Finnish government organization for innovation funding and trade, travel, and investment promotion. The primary data for the empirical study was collected by conducting semi-structured interviews with 12 knowledge representatives who were actively involved in Business Finland’s operations during the COVID-19 outbreak but who worked in different units and regions, thus providing various lookouts on the same phenomenon. The novelty of this study lies in the combination of dynamic environment and agility, and it contributes to both research fields. The findings show that Business Finland has embraced enterprise agile practices to respond to the volatility and uncertainty that followed the COVID-19 pandemic. Altogether six agility providers with several embedded practices emerged from the findings. A burning platform for change replaced the cultural aversion to risk-taking and highlighted empowered teams that worked within and across agencies to achieve rapid results. The findings indicate that these providers and practices did not only help Business Finland to navigate through the COVID-19 crisis but also pointed to more agile operating practices to be more resilient and agile in the future. It became evident that the driver behind various operating rules and practices that might have hindered government organizations’ agility is more often a habit, not law. Given the high environmental velocity, the findings suggest that Business Finland should incorporate the Lean Startup mindset and practices that emerged during the crisis into its daily operations to prepare for future changes and potential shock waves. Moreover, the study confirmed the primary capabilities of agility, of which flexibility and responsiveness, in particular, became essential during the COVID-19 pandemic

Leadership of state-owned enterprises in a volatile environment: a case study of Eskom.

Doctoral Degree. University of KwaZulu-Natal, Durban.To lead a complex SoE like Eskom with its myriad of challenges during a volatile environment, like the Covid-19 pandemic, calls for a very different leadership approach. Research focusing on leading in volatile environments is limited, with no specific studies focusing on SoEs in South Africa. This gap gave impetus to this study to explore the leadership of state-owned enterprises, namely Eskom in a volatile environment. The study adopted an exploratory research design guided by the interpretivist and post-positivist paradigms. Based on the mix-method approach, using random sampling, the study targeted 183 employees, 183 senior managers and 7 executive members out of a total population size of 7526. A total of 113 participants at Eskom responded to the online survey. The study explored if the leadership qualities perceived to be important by Eskom leaders aligned with the leadership qualities required for a VUCA environment and assessed if the leaders possessed the required leadership traits to succeed in this environment. Also, Eskom leaders described how they had changed their leadership approach during the pandemic. The study found that Eskom leaders possessed traits relevant for leading in a volatile environment; however, they lacked key strategic, problem-solving, emergence and innovation/creativity traits. The leadership qualities identified by Eskom leaders aligned to the qualities for a volatile environment; however, the five qualities that managers perceived as most important, namely: honesty, integrity and trustworthiness; being able to set a clear vision and direction; being able to embrace diversity and change; being able to think clearly under pressure and communicate effectively and being able to think conceptually, holistically and strategically, do not align fully to the leadership qualities found to be successful in leading through the pandemic. Leaders at Eskom changed their leadership approach to be more empathetic, supportive, understanding, trusting, agile, flexible and adaptable. Based on the findings, a feasible leadership framework and process was developed. The recommendations proposed, namely the creation of creativity brainstorming pods, the application of LEAN tools, creating an enhanced managerial development programme, and creating a knowledge information system, to help support the implementation and effectiveness of the proposed framework and process

VUCA and the future of the global mobile telco industry

The disruption global digitally based firms are imposing on the positions of established multinational telcos is not just in degree, but also in kind. As such, the telcos are entering a period of VUCA. Although digitally based competitors could suffer from liabilities of ‘outsidership’, employing the telco Telenor as a case, we argue that the physical presence of telcos in local markets will be insufficient to avoid a future as utilities or dumb-pipes. One significant issue as they confront VUCA is therefore whether telcos are able to develop and apply dynamic capabilities

VUCA and the future of the global mobile telco industry

The disruption global digitally based firms are imposing on the positions of established multinational telcos is not just in degree, but also in kind. As such, the telcos are entering a period of VUCA. Although digitally based competitors could suffer from liabilities of ‘outsidership’, employing the telco Telenor as a case, we argue that the physical presence of telcos in local markets will be insufficient to avoid a future as utilities or dumb-pipes. One significant issue as they confront VUCA is therefore whether telcos are able to develop and apply dynamic capabilities

Initiating Leadership Development In a VUCA Environment

Organizations across the world are continuously undergoing change - some of which is by choice; the majority of this change is in response to the pressures the external environment. In today\u27s world, organizations need to be agile. They need to be able to meet the challenges and develop creative ways to attract and retain talent as part of their business strategy. When organizations are strong, their process and procedures are working well in support of their business operations, and their employees are engaged as healthy and constructive components of a high-functioning, complex, adaptable system. Organizational adaptation is imperative in the modern, volatile, unpredictable, complex and ambiguous (VUCA) environment, as without it a firm can become obsolete. Organizations represent and operate as complex adaptive systems. Accordingly, all of their systemic parts are connected and employees within these systems have the ability to influence the organizational and relational dynamics that are needed to successfully meet the adaptive challenges they and their organizations receive from their surrounding environment. This Organizational Improvement Plan (OIP) presents a possible solution by initializing leadership development through an engagement of complexity leadership theory and adaptive leadership within an organizational context unfamiliar with the value of investing in the leadership development of their employees as a form of competitive advantage. Utilizing a postmodern perspective, this OIP focuses on developing a theoretical framework through which a progressive, iterative solution can begin to gradually influence the evolution of largely transactional relationships between employees into increasingly collaborative exchanges through which adaptive work and innovative solutions can be enabled