Connect With Your Management On-The-Go
In collaboration with Simal Celikkol
You are invited to embark on a journey from topics that have become outdated in the literature to approaches that will arouse excitement and curiosity about future. Each chapter is written based on sector experiences by 13 academicians located in 5 different universities in Turkey and now reaches you dear readers.
Table Of Contents
- About the author
- About the book
- This eBook can be cited
- Table of Contents
- List of Contributors
- Chapter 1 VUCA Management: Mehmet Naci EFE
- Chapter 2 Customer Experience Management: Şimal ÇELİKKOL
- Chapter 3 Employee Experience Management: Reyhan BAŞARAN
- Chapter 4 Agile Supply Chain Management: Murat SAĞBAŞ
- Chapter 5 Intellectual Capital and Effective Team Management: Burçak VATANSEVER DURMAZ
- Chapter 6 Online Brand Management: Dilaysu ÇINAR
- Chapter 7 Social Innovation Management: Candide ÇULHAOĞLU ULUDAĞ
- Chapter 8 Personal Knowledge Management: İbrahim YIKILMAZ
- Chapter 9 Digital Currency Risk Management: Hakan BAL
- Chapter 10 Artificial Intelligence in Management: Mustafa SUNDU
- Chapter 11 Big Data-Based Organization Management: Okan YAŞAR
- Chapter 12 Data Mining and Management: Cem Ufuk BAYTAR
- Chapter 13 Perception Management: Exploring Digital Environments: Asuman KUTLU
List of Contributors
Mehmet Naci EFE
Assoc. Prof., Vocational School, Beykent University, Business Management, firstname.lastname@example.org
Asst. Prof., Vocational School, Beykent University, Business Management, email@example.com
Asst. Prof., Faculty of Humanities and Social Sciences, Istanbul Kent University, International Trade and Logistics Department, firstname.lastname@example.org
Burçak VATANSEVER DURMAZ
Asst. Prof., Bahcesehir University, Vocational School, Foreign Trade Program, email@example.com
Asst. Prof., Beykent University, Faculty of Economics and Administrative Sciences, Department of Business, firstname.lastname@example.org
Candide ÇULHAOĞLU ULUDAĞ
Asst. Prof., Beykent University, Faculty of Economics and Administrative Sciences, Department of Business, email@example.com
Research Asst., Department of Business Administration, Kocaeli University, firstname.lastname@example.org
Asst. Prof., Beykent University, Faculty of Economics and Administrative Sciences, Department of Business, email@example.com←7 | 8→
Asst. Prof., Istinye University, Management Information Sytems, firstname.lastname@example.org
Asst. Prof., Beykent University, FEAS-Department of Management Information Systems, email@example.com.
Cem Ufuk BAYTAR
Asst. Prof., Beykent University, Faculty of Economics and Administrative Science, Management Information Systems, firstname.lastname@example.org
Asst. Prof., Beykent University, Media and Communication Department, email@example.com
Chapter 1 VUCA Management
Businesses should be thought of as a living organism. As with all living things, they are born with an organization, grow with investments, and continue to live as long as they are supported by resources. In addition to this, businesses continue their existence in interaction with their environment like as in living things. In other words, they are affected by the developments, opportunities and threats around them. Businesses that are not acting by taking positions according to the conditions cannot survive, whether the factors they affect are at macro or micro level. Businesses need to closely follow all the economic, political, sociological and technological transformations in their environment and constantly develop new management strategies. Otherwise, they will not be able to compete in the market, and they will fail by deviating from their primary goal of making profit.
So how can businesses become resistant to changes in their environment? How can they keep up with these major transformations and changes? While trying to find answers to these questions in the management literature, there are many suggestions proposed by strategic managers . However, “VUCA” (volatility, uncertainty, complexity and ambiguity) management with flexible management principles, which has new discussions on it and fully prepares businesses against the unknown, has attracted attention in recent years. Specifically in markets where there is a lot of uncertainty, complexity and both economic and political fluctuations, it is seen as important in terms of increasing predictability as businesses move forward.
The acronym VUCA is composed of the initials of the four words volatility, uncertainty, complexity and ambiguity, which expressed as an understanding of management, and explaining the effect and importance of these four elements in a managerial sense. It provides an advantage for businesses in drafting a managerial road map against economic fluctuations (recession, depression, etc.). However, it is also used to minimize the risks taken in sectors with high complexity, while giving clues about the measures to be taken within the organization in uncertain market conditions.
In this chapter of the book, it is aimed to examine the studies on VUCA management and reveal the strategies that businesses in high-complexity ←9 | 10→markets, can follow in order to clear the air. In this context, by explaining the meanings that theorists attribute to VUCA management, then it will be possible to determine the tasks that senior management could do to develop their management strategies.
2. Conceptual Framework
According to Stiehm (2002), the concept of VUCA was introduced in the 1990s and is a management approach based on military strategy. This concept, which was first developed and used by the US Army, and today widely spread by finding ways to itself in the business world (Stiehm, 2002). After the industrial revolution, many organizations that are in contact with a conventional business environment face an increasingly complex and variable environment today (Bennett & Lemoine, 2014).
According to Savic (2020), managers need to be proactive in order to be prepared for the challenges of digital transformation in organizations. VUCA management is used to describe the uncertain, complex, ambiguous and fluctuating world developed for managers to gain competitive advantage and to reduce the level of uncertainty, especially when making critical daily decisions (Minciu et al., 2020, 237).
The terms that VUCA stands for explained as follows (Bader et al. 2019, 7–11):
Volatility: It is expressed by the size and speed of the change in the micro and macro environments of the organizations. In fact, it is not difficult to predict volatile situations, but to be able to predict, managers must have knowledge. It is recommended that managers be prepared and have more than one plan in line with their expertise. Of course, there are also changes that businesses cannot be prepared for, even though they are predictive.
If we need to look at the areas where change can take place, it is necessary to know that it can be in many places in terms of political, economic, sociological, technological, ecological and legal environment. These changes, which cannot be changed with the intervention of businesses, are very difficult for companies in the global arena. For example, the crises that may be caused by political changes such as crises between countries, termination of agreements, etc. can develop very rapidly, and no matter what kind of preparation is made, precautions cannot be taken.
Uncertainty: Uncertainty is expressed as the degree of predicting the future with confidence; it is expressed as not knowing the situation and cause-effect relationships. That kind of uncertainty generally consists of unpredictable ←10 | 11→reasons. Unpredictability is the nightmare of businesses, which is not knowing what factors are behind uncertainty. Businesses trying to navigate in the foggy direction are concerned about the possibility of potential surprises at any moment.
In the example given by Bader et al. (2019), with the exit of the United Kingdom from the European Union during the Brexit process, an unexpected surprise was encountered first, and then, what kind of following results would be encountered was unknown. To give another example, considering the political developments, the difficulty of anticipating a terrorist incident, civil war or radical changes that may occur in the governance as a result of the elections and taking necessary precautions create a great pressure on the management.
Complexity: Complexity is seen primarily as a process that brings chaos with it. The more factors that businesses are affected by, the greater the complexity. These complexities often have factors that affect each other mutually. For example, it becomes difficult for a company, which is located in more than one foreign market at the same time, to manage, monitor and control its employees. In addition, the pressures of competitors in international markets, rapid change and the political factors that need to be followed can all create complexity by mutually influencing each other.
With all of these, today, the increase in the use of social media with digitalization, when any problem occurs, it is shared rapidly among customers, spreads and becomes viral. Business Managers while try to answer some questions such as; ‘What is the source? By whom? What measures can be taken?’ they should also make quick decisions to avoid making mistakes. Sometimes when trying to take precautions, problems can get out of control and cause complexity.
Ambiguity: Ambiguity refers to unclear situations and not knowing what unclear situations are. In fact, it is believed that even benefiting from the experience of the managers will not provide the desired clarity. Causes of ambiguity; demographic changes are seen as global competition and new business methods. Of course, there are differences between ideal approaches and real results. This causes managers to misinterpret the events.
- ISBN (PDF)
- ISBN (ePUB)
- ISBN (MOBI)
- ISBN (Softcover)
- Publication date
- 2021 (March)
- Berlin, Bern, Bruxelles, New York, Oxford, Warszawa, Wien, 2021. 194 pp., 16 fig. b/w, 10 tables.