Page 127 - The lraternational Journal of the Royal Society of Thailand.indd
P. 127

The International Journal of the Royal Society of Thailand
                                                                                                Volume XV-2023



                  What is VUCA?
                         VUCA stands for Volatility, Uncertainty, Complexity, and Ambiguity. It was

                  originally coined by the US Army War College to describe the complex and unpredictable
                  nature of the post-Cold War world (Hausberg, 2013). The term has since been adopted
                  by business leaders and organizations to describe the challenging and dynamic nature
                  of the modern business environment.

                         A number of scholars such as Hausberg (2013), Minciu et al (2019), Nikolic and
                  Milovanovic (2021), and Pultoo and Oojorah (2021) defined and elaborated each

                  quality of VUCA as follows. First, volatility refers to the speed and intensity at which
                  change occurs. The world is full of changes that can be sudden, dramatic, and
                  unpredictable. It is becoming difficult to understand the cause and effect of events.

                  VUCA world demands for those who are able to adapt quickly in order to remain
                  competitive.  To survive in a VUCA environment, one needs to engage in continuous
                  learning and access new information and technologies.

                         Secondly, uncertainty refers to the lack of predictability and clarity in the
                  environment. In a VUCA world, it is difficult to use past predictions and experiences
                  to forecast the future event. predict the future. To be successful, it is important for

                  one to be agile, proactive, and prepared for constant change. Those who possess the
                  ability to adapt will stand.

                         Complexity refers to the interconnectedness and interdependence of various
                  elements in the environment. In this increasingly complex world, it can be challenging
                  to understand and navigate the relationships between different variables. Choosing a

                  single right path is becoming increasingly difficult. Therefore, VUCA is looking
                  for those who start thinking in new ways, exploring new solutions, and innovation.

                         Ambiguity refers to the lack of clear definitions and interpretations in the
                  environment. The idea that one solution can fit all situations is becoming less common
                  and it becomes rare to find a standard routine or best practice that applies to all
                  situations. The world is turning to be more complex, with more shades of gray than

                  black and white. To make decisions, it requires one to take risks, be attentive, and
                  embrace mistakes.

                         Exploding technological advancements, rapid demographic growth, ecological
                  catastrophes, and geopolitical trends are a few examples of VUCA circumstances that
                  are causing disruptions in humans’ lives. The notion of VUCA has been extensively

                  discussed in policy documents and educational contexts. The report from OECD
                  (Organization for Economic C0-operation and Development) conference in 2018,




                        Namthip Anantsupamongkul
                        Savika Varaporn                                                                  119
   122   123   124   125   126   127   128   129   130   131   132