My friend Arvind has opened up a new dimension to the concept of VUCA. Here’s his take as applicable to the corporate world of banking. Which goes to prove, if proof was ever needed, that VUCA applies to all, irrespective.
My friend Jayanta Chatterjee, a prolific blogger, ex- banker, travel writer, a part time actor and photographer par excellence, yesterday introduced me to the concept of VUCA world while reviewing one of my blogs that talked about the matter of luck. I instantly told him that by appreciating me to VUCA world, he gave me an idea for another blog that I am proving by writing on VUCA.
VUCA in fact is an acronym representing four distinct words – Volatile, Uncertain , Complex and Ambiguous. This also is a much better substitute for another much used word these days – Disruption! Anything that does not go as per expectation but suddenly exposes us to unexpected challenges is a disruption. We in banking sector use disruption to explain all the new and recent challenges viz. new banking licenses, small and payment banks, digitisation, automation and artificial intelligence, relevance of brick and…
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