VUCA world will create a large number of jobs in the next 10 years, says Ganesh

K. Ganesh discusses how the VUCA world presents opportunities for MSMEs to conquer global markets at MSME Growth Conclave.

VUCA (Volatility, Uncertainty, Complexity, and Ambiguity) world has opened up tremendous opportunities for micro, small, and medium enterprises (MSMEs) to go and conquer global markets, said K. Ganesh, city-based Serial Entrepreneur, angel investor and mentor.

VUCA is a realistic term used to help teams and enterprises to be equipped for uncertainties and risks of unforeseen situations. It describes a situation of constant, unpredictable change or setting new norms.

‘’The VUCA world has disrupted most industry segments exposing them all to numerous challenges, sometimes even changing their businesses. This disruption has opened up a huge world of opportunities for MSMEs globally to chase,’‘ Ganesh while addressing a packed audience of corporates and entrepreneurs here on Thursday at MSME Growth Conclave organised by The Hindu Businessline.

He said the VUCA world or untraditional industries would create a huge number of jobs in the next 10 years even as traditional industries slow down on hiring and job creation.

According to Mr. Ganesh, who currently runs GrowthStory.in, a venture builder platform, with consumer expectations increasingly changing, all earlier-set beliefs and norms are changing, well-established industries are forced to change and such kinds of disruptions and transformations are huge opportunities today.

‘’When the gold rush happened, people who made shovels made money. So newer waves are happening and entrepreneurs have to latch on to these,’‘ he said. He added in modern markets demand was ‘‘derived’‘ and not just ‘‘found’‘ and that was happening when there was no licence raj or factories with chimneys.

Emphasising the importance of the MSME sector, many speakers highlighted the fact that MSME contributes 30% to the GDP and account for 50% of India’s exports. The conclave also witnessed two panel discussions: one on Leveraging AI to drive growth in MSMEs and the other on financial and liquidity needs of the MSME sector.