IDEAS home Printed from https://ideas.repec.org/a/eee/eurman/v10y1992i2p125-135.html
   My bibliography  Save this article

The strategic management of uncertainty

Author

Listed:
  • Collis, David

Abstract

As the economic environment becomes increasingly uncertain, the ways firms minimize the risks of, and capitalize on the opportunities presented by that uncertainty become correspondingly important. This paper develops a strategic approach to the management of uncertainty which firms can use to achieve a desirable balance of risk and return. It identifies four generic approaches to uncertainty which differ in the pattern and timing of their resource commitments, and which firms can choose from to offset the exogenous uncertainty they face. The paper then suggests the conditions under which each approach might be appropriate, and describes the important managerial issues surrounding the different approaches. It thereby provides a way to integrate the treatment of uncertainty into strategy making at all levels of the organisation.

Suggested Citation

  • Collis, David, 1992. "The strategic management of uncertainty," European Management Journal, Elsevier, vol. 10(2), pages 125-135, June.
  • Handle: RePEc:eee:eurman:v:10:y:1992:i:2:p:125-135
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/026323739290060H
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Volker H. Hoffmann & Thomas Trautmann & Jens Hamprecht, 2009. "Regulatory Uncertainty: A Reason to Postpone Investments? Not Necessarily," Journal of Management Studies, Wiley Blackwell, vol. 46(7), pages 1227-1253, November.
    2. Philipp Haessler, 2020. "Strategic Decisions between Short-Term Profit and Sustainability," Administrative Sciences, MDPI, vol. 10(3), pages 1-31, September.
    3. Rodriguez Lopez, Juan Miguel & Sakhel, Alice & Busch, Timo, 2017. "Corporate investments and environmental regulation: The role of regulatory uncertainty, regulation-induced uncertainty, and investment history," European Management Journal, Elsevier, vol. 35(1), pages 91-101.
    4. Erich Renz & Marvin M. Müller & Kim Leonardo Böhm, 2023. "When nudges promote neutral behavior: an experimental study of managerial decisions under risk and uncertainty," Journal of Business Economics, Springer, vol. 93(8), pages 1309-1354, October.
    5. Christian Engau & Volker Hoffmann, 2011. "Corporate response strategies to regulatory uncertainty: evidence from uncertainty about post-Kyoto regulation," Policy Sciences, Springer;Society of Policy Sciences, vol. 44(1), pages 53-80, March.
    6. Tecleghiorgis, M.T., 2002. "Market-Oriented Policy Changes and Manufacturing Performance : The Case of Eritrea," Other publications TiSEM 03961170-d991-44b2-8a16-f, Tilburg University, School of Economics and Management.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:eurman:v:10:y:1992:i:2:p:125-135. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/115/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.