Business excellence in a volatile, uncertain, complex and ambiguous environment (BEVUCA)

Abstract

Purpose The purpose of this paper is to examine how companies can achieve business excellence in a highly volatile, uncertain, complex and ambiguous (VUCA) environment. Within the literature about business excellence, there is a lack of understanding of the impact of today’s high VUCA on achieving business excellence. A new business concept, business excellence in a volatile, uncertain, complex and ambiguous environment (BEVUCA), will be illustrated so as to bridge this gap by considering the overall VUCA influence and the influences of each specific term individually. Design/methodology/approach The research incorporated a systematic literature review for three knowledge areas, namely: VUCA, business excellence and the management integration of quality and risk. The later knowledge area was reviewed because such diverse management thinking can help to achieve BEVUCA. Findings The research provided a definition for a new business concept and the systematic literature review identified 18 critical success factors so as to manage and excel under a high VUCA business environment. Finally a conceptual framework was developed for integrating quality management and risk management thinking so as to achieve BEVUCA. Originality/value BEVUCA can be used to close the current gap in the body of literature by providing a link between VUCA and business excellence, and hence advancing the discussion in these areas. Additionally, the BEVUCA conceptual framework can be used as guidance in integrating quality management and risk management to achieve the identified critical success factors.