environmental (adjective, en-vi-ron-mental, /ɪnˌvaɪrənˈment̬əl/) uncertainty (noun, un-cer-tain-ty, /ʌnˈsɜːrtənti/)
Definition: is the shifting, unsettled trends that are threatening to the business’s sustainability of the environment. Oftentimes, environmental uncertainty implies a situation where the management body of the company has little to no information concerning the external environment, the state of the company in it, or the changes in the current business environment. It is a degree to which a business lacks competent and relevant data concerning its operating external and internal environment.
In a Sentence:
- There are a couple of things you can do you deal with the environmental uncertainty of your business. For instance, changing your business strategy might prove to be rather effective.
- Having a narrower strategic focus can help your company handle the environmental uncertainty since it will allow you to simplify your business operations.
- A company that produces a large number of different products might face a greater environmental uncertainty because there are more influential factors that are linked to a larger number of goods.
Synonyms and related terms: environmental sustainability, external environmental factors, business operation, organizational structure, changing business conditions
