VUCA is an acronym for Volatility, Uncertainty, Complexity, and Ambiguity.  VUCA is the driver of most disruption in business.

I believe we live in VUCA time.  And, VUCA is changing how business is done:

• Worldwide communication networks and computers facilitate aggressive worldwide competition.
• Aggressive high-tech countries (ie. Singapore, Brazil, China, and Korea) grow in capability.
• Outsourcing countries (i.e. India, and China) are growing middle class markets rapidly and compete vigorously to retain markets.
• More competitors are emerging in many industries, at home and abroad.
• Previously regulated (and protected) industries are deregulated (i.e. finance, banks, airlines, telecommunications, utilities).
• Reinvented business alliances (using information technology) result in synergistic competitive strengths.
• Competition is based on new business models.
• Free trade agreements are being renegotiated and becoming more balanced.
• Alliances among nations change the role of international competition, as in the European Community.
• Customers have more online purchasing choices.
• Increased competition results in over supply and lower margins.
• Companies radically redesign processes to give higher customer satisfaction.
• Companies with new structures and redesigned processes are faster to market.
• Quality awareness causes customers to demand higher quality.
• Rapid growth of new technology lead to newer business opportunities and render existing operations obsolete
• New technology allows established markets to be attacked by new entrants.
• Reengineered factories with ‘lean’ manufacturing challenge traditional factories.
• New design (robotics, etc.) and manufacturing (3 D printing, etc.) technologies can quickly change the rules of competitiveness.
• Products designed for automated fabrication drive down prices.
• New product design to market cycles shorten.
• Everything is speeding up because of computers, networks, supply chain risk management, lean, and just-in-time techniques.
• Companies have less time to respond to new threats.

What else could you come up with?

Bio:

Greg Hutchins PE and CERM (503.233.101 & GregH@QualityPlusEngineering.com)  is the founder of:

CERMAcademy.com
800Compete.com
QualityPlusEngineering.com
WorkingIt.com

He is the evangelist behind Future of Quality: Risk®.  He is currently working on the Future of Work and machine learning projects.

He is a frequent speaker and expert on Supply Chain Risk Management and cyber security.  His current books available on all platform are shown below: