Understanding VUCA and BANI Models

A model describing the dynamic and unpredictable business environment characterized by volatility (rapid changes), uncertainty (lack of predictability), complexity (multiple interconnected forces), and ambiguity ( unclear cause-and-effect relationships).

This model describes the modern business environment as brittle (fragile and susceptible to collapse), anxious (stressful due to uncertainty), non-linear (unpredictable outcomes from small actions), and incomprehensible (difficult to understand due to complexity).

The increasing availability of financial resources for leisure activities, leading to more travel and discretionary spending.

The growing trend of people living longer, impacting workforce demographics and retirement planning.

The greater demand for skilled individuals, teams, and organizations in a competitive global market.

The process of effectively managing people at work.

A strategic approach to managing an organization's most valuable assets - its people. It focuses on how HRM systems influence firm performance and create a competitive advantage.

The practices a company intends to use to ensure employees are motivated, skilled, and have opportunities to perform well.

How effectively a company implements its intended HRM practices through managers. It depends on leadership quality and managerial interactions with employees.

How employees perceive the way they are treated by the company. It's about their feelings of trust, fairness, and psychological contract.

The attitudes and feelings that employees develop in response to their experiences with the company.

Employees' actions influenced by their attitudes, including discretionary efforts and supportive behaviors that go beyond their formal job duties.

Behaviors that go above and beyond the basic job requirements, often done out of loyalty or a sense of belonging to the company.

The process of searching for and attracting qualified candidates for a job.

The attractiveness of a company to potential employees based on factors like reputation, culture, and leadership.

The quality of candidates depends on how well these factors are managed.

These are skilled, experienced, and match the job requirements.

The desired outcomes of recruitment aim to attract and convince the best candidates.

This includes attracting interest in the job, making the company appealing, and encouraging applications.

Hiring employees who are passionate and engaged, fostering a motivational work environment.

Streamlining the recruitment process to minimize costs, such as using digital platforms.

Ensuring a company has the right people with the right skills to meet future needs.

Refers to the consistent act of coming to work as scheduled.

The rate at which employees voluntarily leave a company.

The process of getting new employees ready for their roles in a company.

A company's overall performance is based on the combined performance of individual employees.

A framework that emphasizes the influence of an employee's abilities, motivation, and opportunities on their performance.

A system that checks how well processes are working and identifies areas needing improvement.

The act of designing jobs to be more meaningful and engaging.

Focuses on improving current job performance with immediate benefits.

Encompasses long-term changes in an individual's thinking and abilities, leading to lasting improvements.

Prepares individuals for future roles and challenges, focusing on long-term growth and career development.

A systematic process of planning, implementing, and evaluating training and development programs to achieve organizational goals.

A key aspect of HRD that aims to improve employee knowledge, skills, and abilities.

HRD practices that support employees' career growth and progression.

A crucial HRD practice that involves aligning training with company objectives.

A challenge in HRD where understanding employee needs and skills gaps is essential.

Sustainable tourism aims to balance economic growth with environmental protection and social well-being. It promotes responsible travel practices that benefit both tourists and local communities while preserving natural resources for future generations.

Sustainable tourism practices are beneficial for businesses by enhancing employee satisfaction, boosting company reputation, strengthening relationships with suppliers and partners, improving risk management, attracting investors, reducing costs, and ultimately leading to better overall performance.

Sustainable HRM involves aligning human resource management practices to support both the company's goals and the long-term well-being of employees and the environment. It focuses on creating a work environment that promotes fair treatment, transparency, employee well-being, and financial success without compromising ethical or ecological values.

Justice and Equality in Sustainable HRM involves treating all employees fairly and ensuring equal opportunities regardless of their background or characteristics.

Transparent HR practices in Sustainable HRM involve open communication about decisions affecting employees, ensuring they understand the reasons behind these choices.

Profitability in Sustainable HRM involves aligning HR strategies with the company's financial goals to ensure its long-term sustainability and success.

Employee well-being in Sustainable HRM focuses on creating a positive and supportive work environment, fostering employee development, and promoting employee health and happiness.

Companies that embrace Sustainable HRM practices can achieve long-term success by fostering a positive work environment, ensuring employee well-being, and aligning their HR strategies with ethical and sustainable values.