By Sairam Bollapragada & Rajesh Mohandas
Across the globe, all are now connected in unprecedented ways. This is both a boon and a bane, where we live in an era that is transforming and setting stage for the next revolution. Times when we were disconnected and every country operated in silo the challenges were limited to the internal affairs and the near border conflicts only.
With technological advances where today we look at a bright and secured future on one hand, on the other hand the unrest continues and is growing bigger day by day, conflicts, civil unrest, terrorism, ransom ware, cyber crimes, etc… are now integrated into our daily life.
The digital reality is shaking up some of the beliefs and compelling us to move to a more knowledgeable IT economy what with automation and AI which were limited to books, have finally come to the open challenging how that can transform every space of the life. Soon all white-space is expected to be filled with cognitive behavior and techniques. Automation is forcing re-wiring of skills for many of the IT workforce (read : https://itservicesdelivery.wordpress.com/2016/04/11/the-digital-era-learner-re-wiring-your-skills/ ) spelling end of the careers if not done.
Hence one can relate to the 4 key parameters of VUCA : Volatility, Uncertainty, Complexity and Ambiguity. Each of these factors are challenging the order of the day stuff and hence the need to cope with the same in the turbulent times.
The compounded problem statement with external influencing factors from market pressures, competition, shareholder expectations, stakeholders, are strong indicators, to the fact that the leaders will need to be hard wired to resilience.
The role of the leaders managing workforce, will be crucial and critical in shaping the digital future of any organization. Most of the requirements to support a digital environment are not about the technology per se, but it is also about creating the environment to re-skill, create flexibility to be agile, adopt to changing demands, and groom the right talent for a safe digital future.
Let’s take each of the parameter at a time to see what it means in Digital world:
(V) Volatility: The nature and Dynamics of change that is blowing across the landscape mandates catalysts to adopt to these changes. The legacy of efficiency and productivity will no longer continued business anymore. Disruptive innovations are indeed unsettling dominant industries in today’s world. Hence the times call for compulsive innovation and a drift away from SOPs.
U (Uncertainity): This is a factor which reflects the lack of predictability and many surprises. Another indicator of this is the refusal of the current technology wave to move easily beyond the labs. The ever-experimenting mind-set is also reflecting that the solutions themselves are prone to obsolescence, from the very moment they are conceived with high degree of unpredictability.
( C)Complexity: Multiple parameters built into the character of the issue spells complexity – be it chaos or confusion-led issues.
Complexity can also reflect multiple influencing factors which can unsettle easily. Complexity is good or bad depending on your strategy. Having a bullet proof strategy is impossible – nevertheless one should have a solid strategy to counter complexities and challenge the same. Even if it comes with short expiry date (2 years) you should have one.
Digital space is getting more and more complex with each passing day rolling out a new platform, new innovations coming to light, new solutions offered, disruptive models coming to life, etc. Hence to deal with all these changes, a strategy for managing this change is mandatory and thus the
(A)Ambiguity : The fact that we only know 40% of how technology will fold into the lives and markets as an influencer, is a true reflection of haze in the Digital space. This then raises the question of business risk, which is quite a reality today.
At various levels of an organization, there are ambiguities relating to progression and growth, whether at organization level or career levels of professionals. Except for the lexical meaning of the Strategic and Tactical approaches, the lines are thinning out.
Volatility, Uncertainty, Complexity and Ambiguity will continue to exist but what leaders today can do is to play a vital role and attempt to control the levers by moving in to a Hyperawareness zone of informed decision-making, and fast execution. Winning in the Digital Vortex is not just about algorithms, architectures or innovative business models; it requires organizational change and workforce transformation. And successful transformation is enabled by a company’s digital business agility, building on the fact that people are an organization’s most important asset. Hence, everybody is but compelled to think on the forward thinking strategies to adopt to the Digital VUCA scenarios….