We suggest Leaders will benefit from support on the best approaches to take in these changing times. This theory was originally based on research on reactions from terminally ill patients. Ross later claimed that it applies to change reactions to any life changing situation. By the s it was commonly related to organisational change.
Some of you will have reached the later stages of the change curve already, making decisions about the way forward, being naturally early adopters — either way, a snappy analysis of VUCA remains worthy of reflection. How to lead during times dominated by VUCA? We all now need a strategy for leadership in an uncertain world. Both you, your people and your systems must be adaptable and agile in order to be able to take advantage of opportunities that arise out of change. When and where might these attacks occur?
Who might be behind them? It one, nor an overly complex one. Addressing the could be that the new product changes the game—— uncertainty regarding the strategies of potential and it could have strong implications for how he terrorists has led governments around the world manages his research and development dollars. New partnerships were formed and speaking to a trade publication about the impend- information networks established, resulting in a ing challenge this product may bring, was quoted as relatively successful anti-terror campaign.
Uncertainty is not volatility. A grow his information collection and data processing volatile situation is one in which change is likely, but resources. He lacks precise information about the that change may come quickly and at varying mag- capabilities of the new product, and needs to gather nitudes; an uncertain situation, on the other hand, that data. Research has consistently or that of the Segway personal transporter market shown organizations that adapt themselves to impact did not match pre-reveal hyperbole?
Organizations should all questions that can be answered by information be structured to align with and take advantage of gathering, making an uncertain situation more environmental complexity rather than struggle certain——and certainly more manageable. In the most obvious example, as a small, informal 2. Complexity organization grows, it is expected that formal de- partments will appear to address what has become Meanwhile, efforts to grow markets abroad have too much for a single person to handle.
My New Book "I-Ching for Success in the VUCA World"
A smaller been frustrating because of a variety of consider- operation dealing with a smaller group of suppliers, ations such as export control, tariffs, and the in- a smaller customer base, and fewer regulations transigence of officials in each market. Reid looks to trade complex. You can in which it has expertise.
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As the organization grows succeed in this VUCA environment by being crea- larger, complexity will increase and departments tive. Again, this is distinct from a administration, and EEO compliance.
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Causes of this volatile or an uncertain situation. The situation Reid internal restructuration should not be limited to faces in regard to the regulatory environments and changes within the organization; changes in increas- political climates in the many nations where his ingly complex business environments i.
There is no un- internal change. For instance, many organizations in predictable or unstable change implied in this sit- the U. Indeed, he has a great deal of hard reform. The new healthcare law is tremendously information on regulations, tariffs, and the like, but complex, and many leaders are finding that the most is overwhelmed by the need to process it all. In efficient solution to cope with it is to restructure the complex situations, a great deal of effort is required relevant parts of their firms to better align with its to collect, digest, and understand the relevant in- requirements.
This based organizational structure, such that different highlights the danger of not properly understanding branches of the company are able to specialize in and defining firm challenges. Although effective in understanding and exploiting market regulations volatile situations, stockpiling resources is useless if and idiosyncrasies.
Similarly, estab- complexity for the current organizational structure. Ambiguity materials, and how lovers of fiction will want to discover new authors are factors that will require Finally, Reid tries to carve out time each day to the industry to adopt a mindset of experimentation. Successful publishers, small and proposition the product provides.
He reads a marketing blog for risks. Successful firms avoid over-planning and bundled contracts for authors with both traditional make things up as they go. What will work as a to expect quick, unpredictable, unstable change. Being such a depar- merely uncertain situation, you have a good idea of ture from what the company is known for, what causes what. An ambiguous situation, on the predicting customer reaction to the product is dif- other hand, typically revolves around a wholly new ficult; accurately forecasting associated supply product, market, innovation, or opportunity.
In an processes and needs may also prove problematic. For pen if you gather adequate information. An ambig- example, his company can introduce individual uous situation is more challenging because of the features from the new product into existing prod- newness: there is little historical precedent for ucts, experimenting with customer receptivity. The key here is options. Reid energy in an ambiguous situation. The fourth component environment. Each dimension of VUCA is 3. Final thoughts distinct and unique, and requires a different opti- mal course of action.
International Professional Managers Association
There is broad consensus that these are slack resources, information gathering, or restruc- challenging times for leaders. Globalization has turation. The stubborn glob- which the relationship between cause-and-effect al recession has blunted repeated bursts of optimism is uncertain. Such could be said of the challenge for the return to a path of prosperity. Ambiguity equals demographic shifts in the workforce, and there can opportunity: The story of the new HBS application.
For older people, time seems to pass so ever quickly. For the young, life is still such a long way to go and there are many things to hope for and to accomplish. It is even more important that we do a better job at reflection. Reflection is not just about looking at the past but also about building for future. There are so many things to look at the past but not all are of equal important. It is better to look the fast with a future orientation. It is better done when we have a guide as to what to look for — what the important things of life are. The only problem for the English readers is that they are all in Chinese.
Machine translation from Chinese to English for his messages will end up with many jokes if one understand both languages. So here is my attempt to translate one of his key message into English that you may benefit from it. The Translated with i-Ching Hexagrams Added : The meanings of some of the phrases, even in Chinese, are not very clear. One needs to listen to his speech to understand. I also take the opportunities to add in the relevant i-Ching hexagrams for ease of referencing the i-Ching wisdom as well. So here is the complete mind-map.
I am a strong proponent of integrating any new knowledge to an existing knowledge base so that the total knowledge can increase over time. By integrating and re-organizing knowledge, we are able to enhance our knowledge in both broadness and depth. Conventional economics teaches about the supply and demand of tangible physical goods. It is a scarcity mindset of fighting for bigger share of a fixed pie. There is another type of goods, the intangibles, such as information, software, skills, talents and emotions like love and joy, that do not get consumed when used or shared.
They work on a different economic law, the law of network effect when the more it is shared, the greater is the total benefits.
Managing VUCA Through Integrative Self-Management
The abundance by sharing law can be applied to the scarcity economic laws to increase the production of a much bigger pie. It is one of the key factor for the economic of scale. Consider this law of abundance by sharing in your next decision making to open up your innovating mind to create more by sharing and using less. Consider open sourcing and crowd sourcing etc. When one person uses it, there is less for another.
It is the famous sharing of the fixed pie. A whole set of economics laws is dealing with this kind of goods. There is another type of tangible goods such as a National Park, where it does not get less that fast with additional people, but it will break down due to congestion and destruction when too many people use it at the same time. This scarcity brings forth the concept of opportunity cost.
If I use it do this will prevent me from using it to do others. It bring forth the problem of distribution. Who should get more or less of this limited amount of goods. They can be used at the same time concurrently with many users and non get lesser of the goods. In certain time, there is this network effect of greater total value when more people use and share it. The economic of scale of the scarcity based economy is not just the outcome of the sharing of a fixed costs over greater quantity of units of production but also from improvement in the production methods due to better knowledge.
All strengths are dependent on the situation. They should be determined externally by the situation unless you specific choose the situation wherein your strength is relevant. You just need to choose the situation and the job or person that need it. Finding the jobs that make use of your idea is also innovation. Innovation is not just the invention of things or even services. Giving new meaning and hence new uses for existing products are also innovation. When sending my daughter to work this morning, I encountered the following situation as shown in the photo below:.
Strengths or weaknesses should be viewed externally , from the opportunities and threats that are present in the situation.
International Professional Managers Association
We tend to do it inwardly first, from what we think as our strengths and weaknesses and look outward for the opportunities and threats. Hence, we see what we like to see and miss out the greater opportunities threats are opportunities too. So I purposefully not mention it here that lie in our blind spots. Furthermore, strengths should be measured not by us but our customers and the market relative to our competitors. We should invert the way we do SWOT. We should look at the OT and then derive the S!
Or even we should do it T O W S! The good news of external opportunities and threats are that all your competitors are facing them also. There open the great opportunities for you to better them! Opportunities and threats are uncertain too. If we can convert threats into opportunities then what we first called threats are actually opportunities. If we ignore the risks in our opportunities then our opportunities may change into threats. Old farmer lost a horse. Changes in the external environment could make our prior wise decision looks stupid!
No idea is useless.