Date of publication: 2017-07-09 09:33
“‘In a highly uncertain environment, the advantages of scenario planning are clear: since no one base case can be regarded as probable, it’s necessary to develop plans on the assumption that several different futures are possible and to focus attention on the underlying drivers of uncertainty.”
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I am a new MBA student and will have to write my thesis by the end of this year.
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This is quite a difficult question because it is asking you to examine how much ( the extent to which ) people alter their identity online, rather than highlighting the fact that people can change their identity &ndash a potential trap for first-time essay writers.
9. Seek imaginative solutions
Finally, many of the issues arising from these external shocks or black swan events are quite challenging and a number of tough calls often need to be made. The use of tried and tested unimaginative solutions can often serve to exacerbate problems for example, the increase in taxes initiated by countries such as Ireland in seeking to tackle the credit crunch takes cash out of the economy, serving to reduce consumption further. More creative solutions are needed to deal with the problems caused by these black swan events.
6. Minimize downside risk exposure
All managers should encourage in-depth risk assessments so that risks are managed where possible, be it through the use of insurance products or strategic moves, such as reducing reliance on one key supplier.
Writing samples play an important role in helping the Admissions Committee evaluate a doctoral applicant's research, writing, analytical and problem-solving skills.
As The Economist proclaimed in a recent edition “ Precisely because peering into the future is harder today than it was a year ago, managers should be using every available means to gauge what the world could look like in the coming months and to establish targets using this analysis ”.
8. Build up a cash buffer
In uncertain times, it is best to convert stock and debtors into cash as quickly as possible. Increased defaults and growing numbers of companies becoming insolvent mean that all companies are increasingly vulnerable to bad debts. The old adage ‘cash is king’ is particularly important in uncertain times.