Leadership dynamics in a VUCA business world

Abstract

The aim of this study is to identify the leadership dynamics in financial services within the context of a VUCA environment. The study investigated understandings of VUCA (volatile, uncertain, complex and ambiguous) amongst senior executives in South African financial services organisations from both their own perspectives and in the context of being seasoned leaders in wide-ranging divisions in financial services. Face-to-face in-depth interviews were conducted with a group of 15 respondents. The respondents have worked in financial services for most of their leadership journey and in South African financial services organisations. An exploratory qualitative study was utilised to gain insights into the extent to which financial services organisations have progressed regarding leadership dynamics in the context of VUCA environment in South Africa. It was concluded, through the development of a VUCA-enabled framework for organisations, that various factors including VUCA causes, business risks, and challenges, contribute to the VUCA environment. Therefore, leadership dynamics -namely skills, competencies, style and approach need to be tested and calibrated with the view of adopting leadership development techniques that are fitting for their contextual VUCA environment. This approach will enable emerging leaders to be VUCA capable for organisational goals and objectives in the short and long-term.