Training and Development Assignment 1
Table of Contents
1. 0 Introduction of WSQ Framework. 2 2. 0 VUCA Environment. 2 2. 1 Volatility. .. .2 2. 1. 1 Example of volatility and counter-measurement. . .2 2. 2 Uncertainty. . .3 2. 2. 1 Example of uncertainty and counter-measurement. 3 2. 3 Complexity. 3 2. 3. 1 Example of complexity and counter-measurement. . 3 2. 4 Ambiguity. .. 4 2. 4. 1 Example of ambiguity and counter-measurement. 4 3. 0 Conclusion: Relations between VUCA environment and WSQ framework . . .. 4 4. 0 References. .. .5 - 6 5. 0 Appendices7 Appendix A7 Appendix B8 Appendix C9 1. 0 Introduction of WSQ Framework The Singapore Workforce Skills Qualifications(WSQ) system offers training and development programs for individuals to acquire and enhance their technical and generic skills and abilities that are relevant to the prevailing work in the industry. It is a national credentialing system that offers more than 30 frameworks and seven qualification levels that ranges from basic certificate to graduate diploma certifications. It is customized to be affordable, practical and accessible to encourage individuals to be responsible for their own careers and advancement. (SkillsFuture Singapore, 2016).
2. 0 VUCA Environment
VUCA is an acronym that is commonly used to describe the current business environment that we are living in. Its elements consist of volatility, uncertainty, complexity and ambiguity (Bennett & Lemoine, 2014).
2. 1 Volatility
In a volatile world, there is instability, unexpected changes and rapid economic fluctuation. The nature, size, speed and capacity of change is in an unpredictable pattern and business firm are required to reorganize quickly to respond and adapt to the changes (Sullivan, 2012). The drivers of volatility comprise of global competition, digitization, organization model innovation, trade liberalization and connectivity (Reeves & Love, 2012).
2. 1. 1 Example of volatility and counter-measurement An example of volatility would be price fluctuation for N95 masks in Phillipines during the 2015 Southeast Asia haze(Jhunnex & Jocelyn, 2015). Vision is vital and can be used as a counter-measurement during such turbulent times. Leaders will need to keep their organization's vision in mind when making business decisions such as stockpile inventory to ensure that their investments matches the risk (Bennett & Lemoine, 2014).
2. 2 Uncertainty
Due to volatility, there is a huge contrast between the past, present and future. Uncertainty can be defined as the lack of predictability in events and issues. Information tend to be incomplete due to rapid changes and the increment of uncertainty makes it difficult to forecast the capabilities and organisational strategies that would be important in the future (Johansen, 2013).
2. 2. 1 Example of uncertainty and counter-measurements The new virtual telco, Circles. Life offers free communication service via WhatsApp without using th...