An Empirical Study of COVID-19 Impacts and SMEs in Nigeria: Quarterly Journal

ABSTRACT

VUCA Model A Strategic Concept This concept originated from the military strategies of the United States of America (USA) War College at the end of the cold war (Financial Times, 2018) which had pitched the US against Russia in all facets military might, technology, space race, allies, sports etc. [...]the mastery of the future business environment, the ability to harness the opportunities and solve the challenges therein, depend on the understanding of the strategic pillars identified in Figure 2. The Covid 19 VUCA Environment and Impact on Businesses The global business environment is currently immersed in a VUCA situation triggered by the current pandemic, and the impact has been devastating on the health system and the economy of the world (International Monetary Fund, 2020). Other major sporting events planned for this year which have been disrupted by the pandemic, have led to significant loss of potential revenues. [...]the task for business leaders going forward is to craft strategies that are robust enough to predict factors that create VUCA situations and develop plans to mitigate or ameliorate their impact.