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Introduction: The COVID-19 pandemic was unprecedented, and none of the world’s think tanks could have predicted how far it would spread. People visualise the pandemic as a classic example of a VUCA environment (an environment characterised by volatility, uncertainty, complexity, and ambiguity). Managing COVID-19 requires unique and different leadership qualities.

Purpose: This study’s rationale emphasises that VUCA demands strategic and agile leadership. Leaders across the globe must acknowledge the fact that the elements of VUCA, i.e. volatility, uncertainty, complexity, and ambiguity, are not synonymous and hence need differential treatment. Also, recommend adopting agile leadership to tackle the VUCA world.

Methodology: This is a conceptual study focusing on agile leadership. The study addresses the challenge of leading in the VUCA environment. The constituting components of VUCA are differentiated, followed by an extensive literature review of agile leadership.

Findings: VUCA is the new normal and is there to stay. Business leaders still need to counter VUCA due to their incapacity to distinguish and treat the components equally. Furthermore, there is an emergent need to develop an agile workforce, agile organisations, and agile leadership to combat VUCA. The study indicates that business leaders must be agile enough to handle the COVID-19 pandemic and future crises. There is a constant need to ensure agility. This study will provide a deep insight into VUCA and help business leaders emerge victorious in turbulent times.

We revisit the problem of redesigning the Master in Business Administration (MBA) program, curriculum, and pedagogy, focusing on understanding and seeking to tame its “wicked problems,” as an intrinsic part and challenge of the MBA program venture, and to render it more realistic and relevant to address major problems and their consequences. We briefly review the theory of wicked problems and methods of dealing with their consequences from multiple perspectives. Most characterization of problems classifies them as simple (problems that have known formulations and solutions), complex (where formulations are known but not their resolutions), unstructured problems (where formulations are unknown, but solutions are estimated), and “wicked” (where both problem formulations and their resolutions are unknown but eventually partially tamable). Uncertainty, unpredictability, randomness, and ambiguity increase from simple to complex to unstructured to wicked problems. A redesigned MBA program should therefore address them effectively through the four semesters in two years. Most of these problems are real and affect life and economies, and hence, business schools cannot but incorporate them into their critical, ethical, and moral thinking.

Government communication is an essential part of the democratic process – it interconnects various stakeholder groups with the public, while also enabling the functioning of democratic systems based on values such as human rights, freedom of speech and public participation in governance. Besides promoting government successes or measures, government communication should foster mutual two-way communications between government organisations and different stakeholder groups. Specifically, communication about potential risks and hazards can suddenly appear and are subject to a different communication modus operandi. The accessibility and comprehensiveness of government information play an important role in how citizens make decisions and behave. In critical times, governments are required to meaningful crisis communication strategies to address the needs of different stakeholders. However, the Czech Republic as a post-communist country has not yet fully developed an integrated system of government communication with various stakeholder groups. The ministerial PR departments serve merely as technical support and media relations assistants for the ministers. This chapter presents research results regarding how the Czech Ministry of Education communicated during the pandemic crisis, how its communications were received by key stakeholders, and what pitfalls in communication it faced. The chapter presents empirical evidence of government communication challenges in times of crisis in a post-communist country and thus addresses the gap in government communication knowledge concerning the role of democracy and stakeholder participation in transforming societies. The chapter concludes with practical implications to prevent failures in future crises.

Purpose: This study examines the effect of uncertainties on the hospitality industry from different perspectives across the globe. The hospitality industry faces several contemporary issues and challenges that have the potential to impact its growth and development. This study aims to analyse the current problems and uncertainties in the hospitality sector.

Need for the Study: The hospitality industry plays a significant role in the global economy with various services, including accommodation, food and beverage, events, and tourism. However, the sector faces several contemporary issues and challenges that have the potential to impact its growth and development. This study provides an overview of the most significant problems and challenges facing the hospitality industry today.

Methodology: A systematic literature review was conducted to identify and synthesise relevant studies on the effect of uncertainties issues on the hospitality industry. A systematic search of the Web of Science and Scopus databases was conducted to determine relevant studies published between 2010 and 2021. Studies were screened and selected based on pre-defined inclusion and exclusion criteria. A thematic analysis was performed to categorise the uncertainties and issues in the hospitality industry.

Findings: The study identified several uncertainties and issues facing the hospitality industry, including the pandemic uncertainties, financial crisis, whether positive and negative impacts, terrorism attacks on hotels and tourist places, uncertainties in government policies, situational risks like uncertainties, ambiguity, cultural differences, changes in tourist preferences and changing habits of the tourist.

This research analyzes the alignment of story framing between Samarco and news media following the dam disaster in Minas Gerais in November 2015. Drawing on framing theory as the underlying impetus, the study seeks to answer five major questions: RQ1: How did Samarco frame the mining tragedy in the aftermath of the dam collapse? RQ2: How did the news media frame the mining tragedy in the aftermath of the dam collapse? RQ3: Did the frames presented by Samarco and news media coincide? RQ4: Did the frames presented by Samarco and news media contradict? RQ5: What can be observed about the information flow and interaction between news media and the general public on social media? From a methods perspective, the study uses comparative textual analysis and NodeXL social network visualization to analyze the discourse around Samarco and information flow on social media in the aftermath of the tragedy. The results show that, while some social media content served as a forum for expressions of empathy toward survivors, social media content on Twitter mostly delivered a one-sided and positive view of the firm’s actions.

Due to its high leverage nature, a bank suffers vitally from the credit risk it inherently bears. As a result, managing credit is the ultimate responsibility of a bank. In this chapter, we examine how efficiently banks manage their credit risk via a powerful tool used widely in the decision/management science area called data envelopment analysis (DEA). Among various existing versions, our DEA is a two-stage, dynamic model that captures how each bank performs relative to its peer banks in terms of value creation and credit risk control. Using data from the largest 22 banks in the United States over the period of 1996 till 2013, we have identified leading banks such as First Bank systems and Bank of New York Mellon before and after mergers and acquisitions, respectively. With the goal of preventing financial crises such as the one that occurred in 2008, a conceptual model of credit risk reduction and management (CRR&M) is proposed in the final section of this study. Discussions on strategy formulations at both the individual bank level and the national level are provided. With the help of our two-stage DEA-based decision support systems and CRR&M-driven strategies, policy/decision-makers in a banking sector can identify improvement opportunities regarding value creation and risk mitigation. The effective tool and procedures presented in this work will help banks worldwide manage the unknown and become more resilient to potential credit crises in the 21st century.