Volatility Concepts - Flashcards

10 flashcards covering the definition, examples, and responses to volatility based on the lecture notes.

What is volatility?

Something that can change quickly and unpredictably.

Give an economic example of volatility.

Stock market crashes or sudden inflation.

What is a technological example of volatility?

Rapid rise of AI replacing traditional jobs.

What is a societal example of volatility?

Viral social media movements shifting public opinion overnight.

What is a global events example of volatility?

COVID-19 pandemic suddenly altering how people work, study, and travel.

What is an environmental example of volatility?

Extreme weather events like sudden typhoons, wildfires, or heatwaves disrupting communities and economies.

Name one way to respond to volatility: Agility & Adaptability.

Be ready to pivot strategies when conditions shift.

Name another way to respond to volatility: Preparedness & Planning.

Develop contingency plans (Plan B, C, D).

How can strong communication help in volatile times?

Keep people informed and aligned to reduce panic.

What does volatility push us to develop in a VUCA world?

Resilience, agility, and innovation.