Assignment task: According to Drozhzhin (2019), the VUCA world requires organizations to change how they collect and analyze information, make strategic decisions, develop plans, and implement actions. The following steps summarize how organizations should position their actions in the VUCA world:
1. Data collection and analytics. Organizations must utilize the concept of foresight in evaluating information relevant to strategic planning. Foresight is different from the traditional predictive forecasting models, based on the forward projection of past experiences. Foresight includes more advanced methods of anticipation logic, which allow making possible scenarios based on weak signals, emerging trends, coexisting presents, and potential paths of evolution. Strategic foresight is especially useful in situations characterized as a VUCA context.
2. Crafting a strategy. Organizations must lay down their initiatives based on a chain of goals. Managers must avoid positioning the company strategy based on false assumptions, an inaccurate implementation time frame, and solutions to symptoms, not on the problem itself.
3. Bridging the gap. Organizations must identify any discrepancies between strategy and its proposed execution.
4. Road-mapping. Organizations must employ strategic management tools such as road-mapping. Road-mapping fully implements the ideas of continuous adaptation and organizational learning. It involves specifying the quantitative and qualitative measurement of goals. In addition, road- mapping is based on the assessment of key performance indicators of the company.