Strategy Under Uncertainty Business Environments Essay

Length: 5 pages Subject: Business Type: Essay Paper: #6349833 Related Topics: Growth Strategy, Environment, Business World, Preparing
Excerpt from Essay :

That can get them into a lot of trouble.

In short, uncertainty is always going to be there in the business world. Nothing is one hundred percent certain when a person is owning and operating a business. During a time when economic uncertainty is higher than normal, there is even more uncertainty that has to be addressed. Overall, though, most uncertainty falls into levels one and two. By the time it has gotten to level three the economy and industry are both struggling and it may be better not to make any exotic or unexpected changes during that time. In level...

...

It is simply too dangerous to consider, because it offers too large of a range of choices to be seen. When it is completely impossible to address or even determine ever reasonable option or outcome that could occur, it is much better to just avoid the entire issue and wait until things stabilize. Some companies thrive on taking risks during very uncertain times, but those are generally companies that can handle it because they have such stable economic bases. Companies that are less stable, and companies that are new, would be wise to wait and consider building their strategy during a time that is more suitable for businesses to grow and develop for the future.

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