Vuca and other analytics in business resilience, part A

Abstract

The global economic trends seen in recent decades, especially in investment and trade, have tightened linkages between different countries and regions around the world. Since the early 1970s, internationalisation of enterprises has been considered as one of the main areas of study in international business. Internationalisation means an increasing involvement of firms in the international market, be it in just a specific segment of corporate operations or the entire operational activity. Internalisation takes place when, for instance, enterprises establish diverse cross-border relationships with their counterparts in other countries, starting usually with relatively simple forms, such as exports and then progressing to much more advanced ones that include, i.e. FDIs. Whichever form is selected, any business that embarks on the path of internationalisation gets exposed to many more uncertainties than those at the domestic market. Hence business resilience becomes really important. Over the past few years, companies have faced unprecedented uncertainties and turbulences in the global economy. Ambiguous and sometimes even contradictory conclusions drawn in the studies on business resilience, are, in my opinion, the fundamental reason why in-depth studies on the effects of global turbulences and their impact on international business should be conducted. Obviously, there is a shortage of conceptual and empirical studies in this field that would address, in particular, the pandemic and its effects, such as global value chain disruptions, new patterns for investment attractiveness, industrial revolution 4.0, environmental and climate changes, and, last but not least, the impact of wars and political conflicts on business activity at international level. This book attempts to fill this gap by presenting, discussing, and analysing different aspects of a trendy managerial acronym: VUCA, which in short reflects on the volatility, uncertainty, complexity, and ambiguity. The book covers the most important aspects of the VUCA and highlights valuable insights on business resilience. In this book, readers will find both the conceptual chapters and empirical analysis. The book discusses interesting and original studies and is highly recommended to all those interested in business and diverse aspects of its resilience, a subject so pertinent in our contemporary times filled with uncertainties.