Managing uncertainty really comes down to one word and that is volatility. How does a company manage uncertain events that may be (and usually are) out of their control? However, this does not mean that a company is helpless and should sit idly by. There are actions we can take. For example, in Module 02 we discussed Risk Transfer. This represents one way to deal with uncertainty.
For your initial post, discuss two or three ways to manage uncertainty and explain your selection.
In your subsequent post(s), discuss how managing uncertainty may have some unintended consequences such as creating other risks.
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discussion 5 risk management 1 .