ABSTRACT

Many practitioners and academicians preach the need for change as the way to manage the Volatile, Uncertain, Complex, and Ambiguous (VUCA) business environment we live in. Many strategy books focus on the perspective of large multinational corporations that have the capacity and capabilities to develop and implement a strategy using very structured methodologies and tools. The view of the strategy savvy executive can help the company survive a series of challenges and capitalize on opportunities. VUCA has become a trendy way of saying unpredictable change and has found its way into business lexicons. Whenever volatility appears to be on the horizon the best way to prepare is to allocate resources toward developing agility. The disruption happened in global supply chains when China went into lockdown and when many countries decided to limit exporting of its products in fear of extended shortage in global supplies.