A US military term for an increasingly challenging environment. Applies to the corporate context in that markets are not as linear as previously thought.
Here’s a summary of each component of VUCA:
- Volatility – instability caused by ups and downs in available resources
- Uncertainty – lack of information leading to poor data for decision-making
- Complexity – many moving parts all affecting the issue in varying degrees
- Ambiguity – hard to find causality between actions and outcomes