Get to know Globalization 3.0: A pop quizÂ
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by Louise Muhdi Published 14 December 2021 in Brain Circuits • 2 min read
There’s not an executive on the globe who hasn’t realized the important of navigating a volatile, uncertain, complex, and ambiguous (VUCA) business environment. But are you ready to respond to the next big disruption?
Sit down and ask yourself the following questions – they make up the basics of the LACE framework for navigating times of uncertainty. LACE stands for four pillars of action: learn, adapt, collaborate, and experiment. These are the questions you should be asking to test your readiness.
Learn
Adapt
Collaborate
Experiment
If you regularly revisit these questions with your team and work on building the four pillars, you will become ready to handle whatever is around the next corner.
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Further reading:Â
The LACE framework: How to effectively respond to a rapidly changing environment by Louise Muhdi
Affiliate Professor of Innovation and Strategy at IMD
Louise Muhdi is Affiliate Professor of Innovation and Strategy. She helps organizations adapt to uncertain and fast-changing business environments, drive innovation and growth, and sustain value creation for the long term. She has an MSc in biology and a PhD in technology and innovation management from ETH ZĂĽrich, Switzerland. Prior to joining IMD in 2019, Muhdi was Head of Innovation Strategy and Portfolio for Global Science and Technology at Givaudan International where she developed the global innovation strategy and implemented multiple strategic initiatives to drive short, mid, and long-term growth. She also spent several years in the pharmaceutical industry.
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