The Death of Business as Usual: The Impact of VUCA on the Sustainability of SMEs

The necessity for businesses to have to deal with and manage change is far from new or novel. However, a convergence of forces due to the ever-increasing interconnectedness of digitisation, globalisation, environmental crisis, demographic shifts, individualisation and technology have created an interconnected and dynamic set of forces that have become increasingly less predictable and difficult to prepare for This study examines the available literature regarding Volatile, Uncertain, Chaotic and Ambiguous (VUCA) conditions from a number of differing perspectives including technology, leadership, innovation and learning specific to the small and medium sized enterprises (SMEs) to identify areas of convergence and provide an evidence-based set of principles upon which to base future research into the sustainability of SMEs. Specifically, the paper provides useful perspectives and insights for the development of practical tools and methods to help the business leaders of SMEs to increase their sustainability in a context best defined by reference to VUCA.