Enterprise management in VUCA conditions

Abstract

Enterprise management in VUCA conditions Abstract. Today's world, which is characterised by variability, uncertainty, complexity and ambiguity (VUCA), poses a problem associated with a shift in the business administration paradigm. Therefore, the purpose of this paper is to define the features and develop a conceptual model of business administration in the VUCA world. The article defines the components of the VUCA world and describes their impact on business administration. The research was conducted from September to November 2017 based on a sample of 90 Ukrainian enterprises in Kharkiv city with the involvement of managers of 34 manufacturing, 36 trade and 20 transport enterprises to determine factors affecting the efficiency of management under the conditions of variability, uncertainty, complexity and ambiguity. The authors of the article have developed a conceptual model of business administration in the VUCA world based on the identified factors and characteristics of the modern world. The model includes objectives of entrepreneurial activity from the perspective of marketing approaches and stakeholders' interests with regard to environmental factors, as well as methods and management tools that ensure competitive growth.

Halal Industry’s Organizational Performance Factors: A Systematic Literature Review

“…Furthermore, the management and strategic planning elements work in tandem with information-sharing capabilities and effective information flow in generating a favorable organizational environment, which is critical in managing VUCA in the market setting (Triraharjo et al, 2020) (Rose et al, 2019). Kryvoruchko et al (2018) suggested in their study on enterprise management in a VUCA environment that SMEs must be more dynamic in their entrepreneurial management and more agile in adjusting their business models to remain relevant to evolving customer trends that have become more sophisticated in recent years. This fluidity will ensure that an organization can comprehend and meet consumer demands, thereby acting as a catalyst for businesses to mitigate the influence of VUCA (Hamid, 2019).…”

Improving the System of Indicators for Economic and Statistical Determination of Enterprise Efficiency with Regard to Legal Aspects of Management

“…This legal aspect (regarding the legal responsibility of a business) is of extreme importance and priority in the VUCA world, especially given the circumstances that indicate the commission of administrative offenses in the financial sector [26][27][28]. T hus, given the formulation of the economic problem, its analysis and specific processes for constructing mathematical models (relevant, accurate, productive and economic) and their application to a real economic object under conditions and in the reality of the VUCA world [1; 16-18], we recommend to present the improved system of indicators for the economic and statistical determination of enterprise efficiency (with regard to the legal aspects of management) in the form of economic and mathematical model (1) [3; 5; 21; 29-32]:…”

Using the elements from a fuzzy sets theory in the process of diagnosing the loyalty of consumers of motor transport services

“…Enterprises, organizations and individuals are consumers of MTC in the market of transport and logistics services for the transportation of goods. Most companies operate under conditions of VUCA (volatility, uncertainty, complexity, ambiguity) [7], which require timely management system transformations and formation of high flexibility of structures and processes. Authors of paper [7] emphasize a necessity to consider broader issues in meeting consumer needs.…”

“…Most companies operate under conditions of VUCA (volatility, uncertainty, complexity, ambiguity) [7], which require timely management system transformations and formation of high flexibility of structures and processes. Authors of paper [7] emphasize a necessity to consider broader issues in meeting consumer needs. Thus, dynamically changing market conditions and the constant growth of competition in the market of transport and logistics services require continuation of the research in the part of the theoretical substantiation of tools for diagnosing customer loyalty in an uncertain environment.…”