PACIFIC NORTHWEST AEROSPACE ALLIANCE SPOTLIGHT
So what do we do ? First , a full stop ; how we think . Over 35 years ago , a couple of professors at University of Southern California birthed a theory called VUCA , which is an acronym for variability , uncertainty , complexity and ambiguity . My interpretation of the theory explains that as time passes , these factors will continue to compound until there are no longer norms in business . For us , that means that as time goes on , we will need to learn how to adapt and reinvent with increased frequency .
2020 was a year rich in VUCA events , both large and small , creating compounding impacts . Historically , when there has been a retraction in aerospace manufacturing , companies right-size and then readjust when conditions improve . I see two challenges during this current period for the industry . First , here in the Northwest , there is great diversity of industry and demand in multiple sectors . If talent exits the aerospace industry , it may not be regained easily or in timely fashion . Second , when riding the cycles , the frequency is usually short enough that companies can financially weather it . This cycle may be longer and deeper than some can withstand .
In order to survive , companies will need to try something new . We have seen some aerospace companies dramatically and successfully pivot over the past year . Early on , some manufacturers stepped outside their typical aerospace swim-lanes to help support manufacturing of PPE . Others broke into medical or began the journey of pursuing defense work or other sectors . These were all great ideas . Beyond this , some took courageous steps to truly find ways to stand out far above their peers and push the envelope of possibility and do something completely new , completely different and often completely bold .
APRIL | MAY 2021 ISSUE NO . 20 53