VUCA to BANI: Transition in the business world
The world around us is dynamic. Some time ago we discussed being in VUCA world and strategizing the sustenance accordingly. VUCA is the acronym for Volatile, Uncertain, complex, and ambiguous. This was related to the concept ' Change is the only permanent aspect in the world' and we witness that the one who can unlearn and relearn quickly to adapt to the changing environment is the one who survives. Oh!! that looks like Charles Darwin's theory of the 'survival of the fittest'. Very true!!! why did dinosaurs extinct? We all know the answer- the dinosaurs could not adapt to the changing environment..... That remains true for us today. Adapt or perish!!! So, the VUCA world pointed towards these uncertainties, ambiguities, volatility and complexity. The term VUCA was popular in 1980's when the cold war stuck the world and it referred to the conditions of the planet in those times and later it was swiftly adopted by business philosophers in 2000s for the formulat...