Management uncertainty- assessment for Peer Reviewed Reflection Essay

Management uncertainty- assessment for Peer Reviewed Reflection - Essay Example Successful managers and companies accept the fact that uncertainty is an unavoidable factor in business. It cannot be accurately predicted when an economic meltdown can arise or ways in which impacts would occur in the business environment worldwide. As a result, strategic managers and administrators stress upon formulating alternative plans in order to meet with uncertainty. A back-up plan may also prove unsuitable for meeting an uncertain situation as it cannot be precisely predicted how and what type of an uncertain situation an organization might face in future (Van den Bos, 2001). Regardless of extremity of the uncertain situation, a business is required to take action and cope with it promptly. There is also adequate level of uncertainty in the personal lives of most individuals. Individuals must learn to accept uncertainty as an integral part of life from the way in which a business organization operates. When they are faced with an uncertain situation, it is essential that im mediate actions or thinking is undertaken without wasting time upon grieving about it. (Van den Bos and Lind, 2002). One of the effective ways of managing an uncertain situation is to accept the fact that not all aspects of life can be controlled. For instance, it is not possible for individuals to stop a natural disaster from happening. It is important to realize that human control is limited and that the life of most individuals is a result of interaction between various aspects (Conner, 2006). When these aspects alter, an uncertain situation gets developed. For instance, the careless work of a mechanic might cause an engine failure of a car, leading to a major accident. The people travelling in the car could not have predicted such a situation. Similarly, how and when the actions of other people can affect our lives is beyond our control (McGregor, et al., 2001). Individuals