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VUCA is a popular acronym to describe today’s business environment. Everyone should at least know what it means. This article gives a concise overview.
We live in a world of fast change and information overload. Technology changes the world we live in at a lightning pace. The consequences are far reaching. Technology changes the way we live: how we communicate with each other, how we create and gather knowledge, how we travel, how we listen to music, how we do our shopping and even how we start, build or terminate a relationship. We can hardly imagine a world like it was just a decade ago. Slowly but surely century-old concepts such as family and nationality shift to a new reality.The environment companies and authorities have to operate in changes at the same speed. As a result, companies continuously have to adapt the products and services they offer, as well as the way they produce, promote and sell them. Companies are desperately trying to be proactive, by imagining what the world could be like tomorrow and by continuously developing new products and services. Because the world has become so unpredictable, trial and error has become the only way forward in the fast changing sectors of the economy. This is the basis of design thinking and customer centric design.
