A VUCA world

"With the major and multi-faceted global challenges presented by Covid-19 in the past year, we can remain in no doubt that we truly live in a VUCA* world: one that’s volatile, uncertain, complex, and ambiguous. Challenges will continue to arise as we all adjust to the changes the pandemic has created, but it is how we respond, adapt to, and navigate such shifting landscapes that will determine our future success. The UK is a key epicenter of entrepreneurial opportunity and technology innovation yet there is still much untapped entrepreneurial potential in the UK that, with wise investment and support, could reap vital rewards for the UK’s economy and for society as a whole. University students and alumni are passionate, committed, and exceptionally talented. They adapt quickly and learn from setbacks, which makes them a perfect fit to rapidly start and scale the successful businesses that will lead the UK’s economic recovery. I know this, because I was one of those students. Since graduating from Oxford, I have helped build numerous high-tech businesses that have sparked economic growth and prosperity and employ hundreds of thousands of people, including Dropbox, Airbnb, and of course, LinkedIn. As an alumnus, I recognize the enormous power of university networks to upskill and improve employability for everyone, not just their students. We can create a new economy that is not only more prosperous, but more inclusive and more sustainable than before. Talent is evenly distributed; opportunity is not, but university centres and networks like the Oxford Foundry can help distribute opportunity more equitably. And, they can help lead the way for the networks and communities around them. Now is the time to invest, and for us all to come together across sectors and across disciplines to create new jobs, replace jobs lost due to automation, strengthen our communities, and boost our economies.”

*VUCA World – an acronym first used in 1987, drawing on the leadership theories of Warren Bennis and Burt Nanus.

Reid Hoffman CBE, Cofounder, LinkedIn Founding donor and Advisor, Oxford Foundry