HOW TO be Nimble in Business During Today’s VUCA Times

This is a BattlePlan Virtual  “current state of business” HOW TO  and discussion/explainer

Why is it Important to be Nimble in Business and What is VUCA?

Let’s start by explaining what the acronym VUCA means. Currently, VUCA refers to 4 simultaneously existing conditions affecting the operation of your, or any, business. These conditions are: 

1. Volatility, defined as rapid, unpredictable change, often for the worse
2. Uncertainty, defined as not being sure or times of doubt
3. Complexity, defined as being complicated, detailed and intricate
4. Ambiguity, defined as being inexact, indefinite, lacking clarity and open to more than one interpretation

Combine all of these conditions and you’ve got  – TODAY’s business environment. Here are just two examples which have contributed to VUCA:

1. Look at Covid and how it affects workers and how it has changed where work is now performed. 
2. Look at the most recent, on-going international conflict and how that is affecting worldwide commerce. 

Both of these examples have a direct effect on businesses – multi-national, large and small.

Now, let’s consider 4 steps to make your business operations more nimble and less VUCA:

1. Eliminate hierarchy and unnecessary layers – The more layers there are in your business model, the less flexible you are.  Today’s marketplace demands agility, not a heavily weighted hierarchy. Consider a three-layered approach that consists, for example, of a CEO/Founder, team leaders and team players. 

2. Foster transparency – Fostering a culture of transparency [vs. murkiness] will make your business more nimble and help you make decisions faster because teammates will feel heard even through disagreements. Transparency fosters trust and trust is currency.

3. Use the right technology to streamline tasks – Picking the right solution will allow you to automate processes that would otherwise steal significant time from more important tasks. Technology drives almost every aspect of modern business with more speed than ever before.

4. Become nimble learners – Nimble learning is indispensable for problem solving in today’s fast-paced business environment. Nimble learners hypothesize and experiment and try again when seeking solutions. It’s necessary to recover quickly from missteps, not dwell on them, and be open to new suggestions. Nimble learning resides at the nexus of “learning, making mistakes and growth”

As your business becomes more nimble, you’ll find it easier to create, initiate and launch projects/products. You’ll also discover that you’re more adaptable and flexible in responding [not merely reacting] to changes in the marketplace. You will experience far less chaos up front and extra work on the back end.

Ultimately, you’ll put your business in a position to be successful, regardless of what happens in volatile, uncertain, complex and ambiguous times. 

Business is Always a DANCE with its Customers.

Seize the Time ~ Seize YOUR Market ~ Seize the Day