Principle 7 — Accept Uncertainty

Simon Bridge and Cecilia Hegarty
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Simon Bridge: University of Ulster
Cecilia Hegarty: PLATO EBR

Chapter 14 in Beyond the Business Plan, 2013, pp 131-140 from Palgrave Macmillan

Abstract: Abstract As an official government guide puts it: ‘however well risks are identified and analysed the future is inherently uncertain’.1 The wise new venture explorer therefore accepts this uncertainty and acts accordingly. So, because the future is largely unpredictable, control what you can control and keep a lookout for the unforeseen, which you can’t control — but which might provide unexpected opportunities or obstacles. So proceed with caution — being flexible and able and prepared to react to the unexpected and to alter course should unforeseen opportunities or obstacles arise.

Keywords: Entrepreneurial Activity; Business Plan; Uncertain Process; Uncertain Situation; History Show (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-33287-5_14

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DOI: 10.1057/9781137332875_14

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