Introduction: Progress in International Business Research in an Increasingly VUCA World

A diverse set of powerful trends in the political, economic, social, and technological spheres is presently reshaping the international network connections of firms and governments. Importantly, these trends are redefining the context, content, and consequences of the geographically distributed footprints of established multinational enterprises (MNEs), small and medium enterprises (SMEs), and emerging players – including international new ventures (INVs). The acronym “VUCA” has increasingly been used as a short-hand characterization for the present state-of-the-world. The VUCA acronym was first introduced in 1987 and has been used by the United States Army War College to describe the volatility, uncertainty, complexity, and ambiguity associated with new trends. In the international business (IB) context, VUCA requires adequate anticipation and understanding, preparation of strategic responses, and effective implementation of management or policy interventions.