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  • Mustafa Hafizoglu

A REAL OPPORTUNITY: UNCERTAINTY

Updated: Nov 25, 2018

Uncertainty, which may be defined as the world of unknown whether we know or do not yet know those unknowns, exists in every aspect of our life, from business to family. Attempting to eliminate the uncertainty is both costly and not very wisely since the presence of the reality of unknown unknowns implies that we do not know the scope and boundaries of what we’re intending to deal.

All of us, as individuals and as companies, have been surrounded with uncertainty. As time goes by new events happen and new information is gained which decrease the level of uncertainty, at least decrease the number of known unknowns. This time and new event, information relationship also explains why the level of uncertainty is high at the beginning of the projects and low at the end. Then where is the opportunity? The opportunity can actually be captured at the time new events and new information emerge. However not every individual or organization capture this opportunity. Only the ones whom can incorporate the new events and information into new decisions as soon as they become available, in the real time, may have the chance to capture this opportunity.

We need to gain the ability o adapt to new information quickly, which is defined as Flexibility by Gill Eapen in his book Flexibility (2010). Hence creating a flexible organization is the key to capture the opportunity. Gill suggests improving flexibility within three primary components of the organization: structure, system, and strategy. On the other hand, for an individual, investing in oneself through education and skills building develop flexibility. Moreover flexibility entails a variety of skills that are transferable and an environment that allows application of those skills without constraints.

Harvest uncertainty through flexibility and capture the opportunity for yourself, for your project and for your organization.


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