What is VUCA (Volatility, Uncertainty, Complexity, and Ambiguity)

The chapter explores drivers, dynamics, and developments of business education in American colleges and universities. A contemporary business education in the U.S. is historically rooted in medieval Europe. It has progressed through several developmental stages and four industrial revolutions. Critical drivers affect American universities and colleges, bringing about strategic disruptions, technological and pedagogical innovations, and exerting competitive pressures for change on higher education. They also create opportunities for the development and growth in the post-COVID prospective, which is likely to be different from previous patterns and trends. These factors of impact range from stagnant domestic and falling international student enrollments, high student loan debt burden, and skyrocketing college tuition to the devastating impacts of the COVID pandemic. In examination of implications of the 4IR and emerging socio-economic trends for B-schools, the chapter discusses developmental trends, outlook, and emerging instructional innovations.