Uncertainty (in Business)
Situation where outcomes cannot be predicted with certainty because variables are unknown or unmeasurable.
Real World
No business predicted the full consumer shift caused by COVID-19 lockdowns in 2020 — the scale and duration were genuinely unmeasurable, forcing reactive rather than planned responses.
Exam Focus
Explicitly contrast uncertainty with risk (unquantifiable vs quantifiable) in 'explain' questions — this distinction earns the second mark.
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