The Impact of Uncertainties and How to Mitigate Them
DOI:
https://doi.org/10.54691/bcpbm.v38i.3919Keywords:
Uncertainties; decision making.Abstract
This paper would attempt to gather primary data from valid resources that would show the impact of uncertainties in companies. It would examine what are uncertainties and how they can impact businesses. Specifically, it would explore the impacts of uncertainties to decision making in companies and how these uncertainties can affect production and profit. Furthermore, it would present theoretical solutions on how companies can deal with uncertainties. It would explore the different factors that would contribute to the collapse of a business. The solutions can be used as reference for companies as they would establish a company that is resilient and sustainable. The result shows that uncertainties have a direct impact on the decision-making abilities of leaders which may lead to negative outcomes; uncertainties have a direct impact on the profitability and productivity of companies; mitigating uncertainties can be made possible by learning from successful companies, and adapting to workable frameworks that would make the company flexible to change.
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