| Acronym components |
Horney, N., Pasmore, B., & O’Shea, T. (2010) |
Codreanu, A. (2016) |
Dhir, S. (2019) |
| Volatility |
the essence, pace, bulk, importance and movement of change |
sudden, extreme and multi-layered fluctuations in economy, socio politics, geopolitics |
the increasingsize, pace, and nature of the changes being faced by organizations |
| Uncertainty |
the lack of predictability of issues and events |
the incapacity to read the present through the lenses of past, because past experience and best practices no longer provide solid indicators for identifying solutions for the present, or for the future |
the lack of information, or the inability to predict issues and events of the future |
| Complexity |
the confounding of issues and chaos that surround any organization |
inherentdifficulty in mastering if not atleast understanding the currentintricacies underlying the externaland internal environment of states andorganizations |
the interconnectedness of interacting forces affectingorganizations |
| Ambiguity |
the haziness of reality and mixed meaning of conditions |
the inability to provide “yes/no” solutions and, hence, themultifariously valid alternatives |
unclear causal relationships and difficulty inteasing out issues |
