Economics
Huston Tillotson University Chapter 17 Making Decisions with Uncertainty Essay

Huston Tillotson University

Question Description

I’m working on a Economics question and need guidance to help me study.

For this week's assignment we will applying material on decision making under conditions of uncertanity to the reality being experienced as we deal with the impact of the Coronavirus. Using the business/industry you work in, or another of your choice that you thinks works better, you will outline how this week's learning can be applied during challenging, uncertain times. Begin by briefly summarizing the primary challenges faced by the business/industry you have selected. The assigned chapter 17 on uncertainty is broken down into five sections. Choose four of them and use them to construct specific strategies/approaches for decision making under uncertainty. In addition to using specific learning from your book, bring in at least two other relevant sources and provide references for them. By the end of the week submit a three page document as a Word file. All work must be your own.

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Final Answer

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Running head: MAKING DECISIONS WITH UNCERTAINTY

Making Decisions with Uncertainty
Name
Professor
Course
Date

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MAKING DECISIONS WITH UNCERTAINTY

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Making Decisions with uncertainty
Coping with uncertainty demands, especially in business, can sometimes be a challenging
prospect. Profound uncertainty, in most cases, tends to amplify the significance of organizational
decision making when the situation becomes unbearable. Achieving truly dynamic management
remains essential in most cases tends to prove indescribable for almost all companies until they
are in a good position of figuring out the right decisions for companies. The specifics of how
organizations in the present world should handle its uncertainty decisions tend to vary. The wellmanaged organization manages to find themselves shifting towards the vibrant management style
that requires minimal but collective shifts, especially in their operating practices.
Retail Industry (Wal-Mart)
Perhaps the biggest retail company that continues to face various challenges in most of its
operations is the Wal-Mart Company. With the prospect of challenges such as the corona virus
among others, Wal-Mart has recently been forced to explore various options in order to cope
with these challenges. Common challenges that the organization is likely to face include
uncertainty in pricing, regulation ...

chemtai (23904)
Rice University

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