Identifying Business Strategies to Deal with Environmental Uncertainty: A Literature Review

Document Type : Original Article

Authors

1 Master of Business Administration (MBA), Faculty of Management and Accounting, University of Tehran (College of Farabi)

2 Professor at Faculty of Management and Accounting, University of Tehran (College of Farabi)

3 Assistant Professor at Faculty of Management and Accounting, University of Tehran (College of Farabi)

Abstract

Abstract
Today’s businesses are facing numerous uncertainties. So far, many solutions have been studied to encounter these uncertainties. This article aims to introduce a new typology of business strategies to deal with uncertainty, which is based on previous researches. Accordingly, after a multistep process, 87 valid and relevant articles, published in reliable international journals, were chosen. The qualitative data were excavated from these articles and were analyzed with thematic analysis approach. As a result, 203 solutions to deal with business uncertainties, were coded. By combining these codes, 29 organizing themes were devised. Finally, the combination of organizing themes led to four business strategies to deal with uncertainty including anticipation, adaptation, acceptance, and moderation. By considering the results of this article, managers and counselors are able to identify suitable strategies to encounter their own business uncertainties. Moreover, the organizing themes of this article pave the way for the implementation of the strategies.

Keywords

References

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Commercial Strategies
Volume 17, Issue 16
February 2021
Pages 164-145

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