The role of routines in reducing pervasive uncertainty

Markus Becker () and Thorbjørn Knudsen
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Markus Becker: BETA - Bureau d'Économie Théorique et Appliquée - INRA - Institut National de la Recherche Agronomique - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique
Thorbjørn Knudsen: SDU - University of Southern Denmark

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Abstract: Remarkably little advice has been offered in the way of helping management develop appropriate strategies to cope with different forms of uncertainty. In an effort to fill this gap, the present article combines extant research from economics and strategy to identify two broad classes of uncertainty and the generic strategies that are appropriate to handle each class of uncertainty. We point out that organizational routines are ways to reduce pervasive uncertainty in decision making, whereas increasing the available information is appropriate when other, less demanding forms of uncertain situations arise. The argument is supported by empirical tests.

Keywords: Routines; Risk; Uncertainty; Pervasive uncertainty; Decision making (search for similar items in EconPapers)
Date: 2005-06
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Citations: View citations in EconPapers (16)

Published in Journal of Business Research, 2005, 58 (6), pp.746-757. ⟨10.1016/j.jbusres.2003.10.003⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00279163

DOI: 10.1016/j.jbusres.2003.10.003

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