IN 1991, the US Army coined the acronym VUCA in response to the extreme conditions in Afghanistan and in Iraq that resulted in a total change in the nature of warfare. The art of their war adapted to the VUCA world — that is volatile, uncertain, complex, ambiguous.

Finding similarities in the way modern business and economics have radically changed, business tried to make sense of it all to refer to the ever-changing environment with the term VUCA world, now a buzzword in strategic planning and discussions in the business world. VUCA is an old academic term. The Covid-19 pandemic gave it a reawakening and newer applications.