Management
ACRN Finance and Risk Perspectives Series
VUCA, an acronym for Volatility, Uncertainty, Complexity and Ambiguity has its origins in
military operations. Influential speakers such as Alan Webber, former editor of Harvard
Business Magazine and Fast Company, apply VUCA to describe today’s environment after the
several crises that hit the markets during the last decade. Volatility has since risen enormously,
traditional planning and forecasting tools proved erroneous, complexity caused fatal and
unforeseen impacts, risk once again became uncertainty, and ambiguity invalidated formerly
reliable deterministic models on the micro and macro level. In order to cope with this changing
environment, business leaders are forced to adopt their planning and decision models. We
therefore invited scholars from a multitude of disciplines to contribute and (re)build theory of
Finance, Risk and Treasury in times of VUCA.
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