Environmental turbulence has become a regular phenomenon during recent years, due to a variety of reasons, like, rapid technological change, rising competition and globalization etc. Firms have no option but to explore and even try to predict sources of emerging turbulence, examine its evolving impacts, and take proactive and flexible measures to respond to turbulent situations.
This paper examines various dynamics of turbulence, issues and challenges which arise in managing environmental turbulence, and ways and strategies for managing it. The study is qualitative in nature. The study is based on analysis of existing articles, papers and case studies relating to various dimensions of turbulence. The study also covers the case of Indian telecom sector which is undergoing 4th level turbulence (based on classification by Ansoff) due to ‘Business Market Innovation’ led market turbulence unleashed by Reliance Jio, rising competition, ongoing technological change and regulatory unpredictability on the part of TRAI. The case provides insights into the strategies pursued by various telcos for handling turbulence.
Turbulence, Turbulent Environment, Normal Economy, New Normality, Unpredictability, Complexity, Dynamism