A situation in which a decision maker has neither certainty nor reasonable probability estimates available, is called uncertainty.


Webster Dictionary Meaning

1. Uncertainty
- The quality or state of being uncertain.
- That which is uncertain; something unknown.
Share it:  Cite

More from this Section

  • Visionary leadership
    Although the term vision is often linked with charismatic leadership, visionary leadership ...
  • Functional organization
    Functional organization is an attempt by management to provide expert technical supervision ...
  • Divestiture
    Divestiture means the sale or removal of a business/firm or a major component . It refers ...
  • Socioeconomic view
    Socioeconomic view is the view that management’s social responsibility goes beyond making ...
  • Behavioral component
    Behavioral component is the part of an attitude that refers to an intention to behave ...