When business is for people, uncertainty is an opportunity, when people are for business, it’s a problem.
1 To use the common term, uncertainty is the lack of certainty, a state of having limited knowledge where it is impossible to exactly describe the existing circumstance.
2 The only "Certainty" or a "Constant" is "CHANGE." Uncertainty is a given, just as it has always been and always will be.
3 When business is for people, uncertainty is an opportunity, when people are for business, it’s a problem.
4 Uncertainty per se is not a problem, it poses a risk for those who have a fixed mindset and creates opportunities for those with a growth mindset.
5 Uncertainty is a component or a subset of risk (albeit something that cannot be mitigated), so within 'risk' there is uncertainty.
6 There's nothing to be done about uncontrollable situation although a good plan can identify the external factors, and the process can enable a company to work around the externals.
7 Essentially, from a business perspective, the difference between Uncertainty and Risk is that Risk is quantifiable while Uncertainty is not quantifiable (or hasn’t yet to be quantified).
8 Uncertainty is essentially a lack or void in the current knowledge base." Uncertainty," is a future event that can be mitigated by the acquisition of new knowledge.
9 Business leaders couldn’t predict the future with a certain degree of accuracy, but the rate of change has accelerated, indicating that business leaders must learn how to strike a balance between managing complex issues today and predicting the uncertain issues of tomorrow.
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