Some Strategies for Volatility

Volatility can be minimized by open-minded scenario planning, serious succession planning, and ensuring more than one person has a working knowledge of all things critical and important. While these won’t stop an external VUCA event, such as someone getting hit by a bus, they will certainly go a long way toward reducing the impact of the tragedy.  If the scenario planning is open-minded (meaning multiple possible events, directions and outcomes are fair game), it will highlight internal dynamics that could be fixed, while also making apparent what could be put in place internally to best prepare for external VUCA events.  Serious succession planning helps ensure that options are already in place when something happens, whether internally or externally triggered.  And having all critical and important things actionably known by more than one person can be a starting point for reducing silos and encouraging inter-level communication.