The term VUCA refers to a changing environment in which nothing is the same as it was in the past; we can say that, in the face of the new normality, the term is more relevant than ever.
VUCA stands for Volatility (V), Uncertainty (U), Complexity (C) and Ambiguity (A). In other words: volatility, uncertainty, complexity and ambiguity. In fact, it was the United States that first used this term during the Cold War to refer to the changes and challenges that took place at that time in history.
In business, the term is used to encompass the complex situations that organisations face in different contexts. These include economic crises, globalisation, the rise of new technologies and, more recently, the COVID-19 pandemic.
But how can such an environment help a company’s performance today and what are the appropriate strategies to implement it?
Volatility requires companies to be more agile, but also more flexible to stay afloat. Companies that know how to handle volatile contexts are better able to adapt to new requirements or developments.
The challenges posed by the pandemic led companies to become more flexible in the way they work in order to maintain productivity and competitiveness.
One example of this is initiatives that prioritise work-life balance. In other words, a workspace that guarantees flexible working hours with a professional, suitable and equipped environment in accordance with the needs of the company.
An example of this is Gran Via Business & Meeting Center, an option in Barcelona with guarantees in the face of the challenges posed by the new normality.
Uncertainty demands an important effort to better manage information in complex times. In the midst of uncertain contexts, teams not only acquire skills to detect key events, but also develop strategies to clarify future scenarios.
Uncertainty must be dealt with through knowledge, constant training and updating. This will help develop models for decision-making.
Companies that deal with complex scenarios survive crises better. During difficult times, each organisation opts for a different way of survival.
However, training and upskilling employees remains key to adapting to changes in the market.
An ambiguous environment poses a challenge in team integration; therefore, ambiguity serves to foster a more collaborative environment.
It also works to develop pragmatism and greater emotional control to successfully deal with change situations.
How to implement VUCA environments in your company? Strategies
Choose your team carefully
Not only do you need to carefully choose the people who will lead your teams. You also have to ensure that you can count on professionals who have a strong commitment to the company and who are perseverant in the face of change.
Betting on knowledge
Successful companies rely on knowledge as the main pillar of their development. Constant training is not only essential for the company’s progress; it is also essential so that it always has up-to-date talent and a better capacity to face complex scenarios.
In VUCA environments, companies can also find good opportunities. To do so, it is necessary to approach complex situations with a positive but real perspective.
Learning to accept
It is essential to understand that the world is not static and will probably always evolve towards greater volatility. It is necessary to accept this reality and learn to take advantage of every complex situation, so that a company will be better able to react to unexpected challenges.
In this line, a professional workspace ensures the right business environment for higher team productivity.