Asked by Nicholas Jacobs on May 13, 2024

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Effect uncertainty and response uncertainty are two identical types of environmental uncertainty.

Effect Uncertainty

The unpredictability regarding the potential outcomes or impacts of a decision or action.

Response Uncertainty

The inability to predict the outcomes of decisions or actions due to unpredictable external factors or incomplete information.

Environmental Uncertainty

The lack of predictability in the surrounding environment that impacts an organization's decision-making capabilities.

  • Familiarize oneself with the idea of environmental uncertainty and its effects on the formulation and execution of plans and decisions.
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HK
Hristina KostadinovaMay 17, 2024
Final Answer :
False
Explanation :
Effect uncertainty refers to uncertainty about the potential outcomes or impacts of an action or event, while response uncertainty refers to uncertainty about how stakeholders will respond or react to those outcomes or impacts. These are two distinct types of uncertainty that require different types of risk management approaches.