THE OPPORTUNITIES AND THREATS IN THE CONTEXT OF THE V.U.C.A WORLD

Mihaela Minciu, Florin Aurel Berar and Cristina Dima

Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, 2019, vol. 13, issue 1, 1142-1150

Abstract: The business environment in which most of the organizations operate is often characterized by volatility, uncertainty, complexity and ambiguity (VUCA). The concept of VUCA has become very well known, in the last years defining an unpredictable society, in which the economic entities present huge difficulties in defining the future based on the experience accumulated in the past. In order to survive in a constantly changing world, most organizations are rethinking their strategy to be able to offer customers high quality products/services, taking advantage of every situation, even when a general chaos ensues. Therefore, this paper aims to present the main components of the VUCA world, starting from the numerous studies and researches that exist in this area, analyzing in equal measure both: the threats caused by a working environment marked by the uncertainty and the opportunities that may appear. Also, both, managers and other employees from organizations have to change their thinking and mode of action acquiring new skills, abilities and professional qualifications, so that when a limitation situation, that would jeopardize the achievement of the objectives of a project, appears, it should be managed correctly and promptly. The VUCA world requires that each organization conceives an action plan and aligns itself with the new technological changes, in order to maintain a competitive advantage by offering consumers high-performance products and services.

Keywords: adaptability; abilities; management; VUCA. (search for similar items in EconPapers)
Date: 2019
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://conference.management.ase.ro/archives/2019/pdf/5_16.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rom:mancon:v:13:y:2019:i:1:p:1142-1150

Access Statistics for this article

Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE is currently edited by Ciocoiu Nadia Carmen

More articles in Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE from Faculty of Management, Academy of Economic Studies, Bucharest, Romania Contact information at EDIRC.
Bibliographic data for series maintained by Ciocoiu Nadia Carmen ().