“VUCA” is a term coined from the initials for “volatility,” “uncertainty,” “complexity” and “ambiguity.” Applied to the realm of business, it is used to express the volatile, uncertain, complex and ambiguous state of the market environment typically surrounding corporate endeavor. In this report, we consider the key requirements and concrete action plans needed for corporate managers to emerge triumphant in the VUCA world.

Five conditions for triumphing in the VUCA world

• Solid vision and scenarios
• Ability to think on the run (trial and error)
• Business “double-tracking” skills
• Excel as a game “rule maker”
• Ongoing pursuit of innovation

Nine action plan tips for managers battling in the VUCA world

• Remain skeptical
• Envision the future
• Pursue the impact of technological breakthroughs
• Incorporate imaginative spirit in the organization
• Recognize and acknowledge differences
• Keep the organization simple
• Utilize expert teams and special forces
• Take full advantage of external resources
• Create a cash cow