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Managing the challenges of heightened international economic competition is not going to be an easy task. In a volatile economic situation of today, a greater part of our effort and expertise might have to be devoted towards managing uncertainty. In their article, Strategy Under Uncertainty, Hugh Courtney, Jane Kirkland and Patrick Viguerie remind us that managing uncertainty requires a new way of thinking. For according to them, "Underestimating uncertainty can lead to strategies that neither defend against the threats nor take advantage of the opportunities that higher levels of uncertainty may provide."
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