In the 1980s, the term VUCA (Volatility, Uncertainty, Complexity, and Ambiguity) was created to describe the unstable geopolitical situation of the time—before it was adopted by the business world.
Today, the global economy is coming through one of the most volatile times in recent history, and strong management has never been more vital.
To shine a light on the shifting paradigms of a COVID-19 business world, QIU’s Faculty of Business and Management hosted the International Quest Business Conference (IQBC), bringing together academics, professionals, researchers and students from Malaysia and beyond to exchange and share their experiences and research results on today’s business and management challenges.
It also provided an interdisciplinary platform for local and international researchers to present and discuss the most recent innovations, trends, concerns and solutions adopted in this field.
QIU was honoured to welcome distinguished visionary speakers to the event, including QI Group of Companies Executive Chairman and QIU Council Chairman Dato’ Sri Dr Vijay Eswaran, QIU Chancellor Tun Arifin Zakaria, RMIT University Associate Professor Dr Yaso Nadarajah, and QIU Vice-Chancellor Professor Zita Mohd Fahmi.
Professor of Economics, Associate Dean and GEMBA Program Director at China Europe International Business School (CEIBS) Dr Bala Ramasamy and Madinah International University Professor Emeritus Prof. Dr Barjoyai Bardai graced the conference as plenary speakers.
In his keynote address, Dato’ Sri Dr Vijay Eswaran shared what it takes to thrive during a time of crisis—drawing examples from the COVID-19 pandemic.
“Historians will tell you this is nothing new. In 1918 Spanish flu devastated the planet. However, the 1920s was a decade of transformation. It was in the time of the recession that some of the greatest companies were built,” he noted.
“What’s relevant today is the need to understand what’s happening. You are living in exciting times; in a time of historical paradigm shift. It is the best time to seize the day. How and when, is what you must navigate.“
QIU Chancellor Tun Arifin Zakaria congratulated the Faculty of Business and Management for founding this unique hub of shared knowledge and expertise at a most opportune moment in recent history.
“As the global economy clambers out of the deep financial hole dug by the COVID-19 pandemic, it is imperative we rethink the meaning of leadership. We must recast the role of leaders and managers in steering their teams and organisations out of dire straits,” he said.
“The International Quest Business Conference, thus, is a timely platform for national and international academics, professionals, researchers, and students to share their experiences, research, and creative solutions being pioneered at the vanguard of their chosen disciplines.”
The two-day conference was an illuminating experience for everyone involved, with a myriad of diverse lessons learned for managers dealing with the VUCA world. We look forward to more beneficial conferences in the future!
