Running head: PROBLEMS AND NEEDS 1

Management Problems and Needs

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Management Problems and Needs

In my business experience, false assumptions led to a major error of policy

uncertainty. Uncertainty for instance is a key challenge that most business leaders

currently face, especially under future business regulations. For example, uncertainty in

this global economy is how new regulations and technology affect the business because

regulations keep on changing (Bizshifts-Trends, 2014). As such, uncertainty finds a

great discomfort due to the false assumptions regarding the future forecast concerning

what competitors will be doing in the field on business. Today, the business

environment is increasingly becoming multifaceted, hence assumptions pertaining

future uncertainties provides a great challenge on business leaders. To solve this

problem, business leaders should provide a balance of more reactive assumptions and

reinforced long-term strategies in relevant to future uncertainties.

Fundamentally, recognizing appropriate procedures in protecting against

inaccurate or false assumptions will minimize the danger of uncertainty. The most

efficient means is to provide with a path that holds the utmost probability of not being

stuck during rapid decision-making (Bizshifts-Trends, 2014). In essence, assumptions

may not be valid for a specified period and they may be in some cases factors to be

declared unknowingly. In addition, formalizing measures that protect against false

assumptions can minimize the errors of uncertainty (Bizshifts-Trends, 2014). According

to Donald, once an assumption is considered invalid, it should be removed from the

assumption list (n.d.). In fact, managers should consider the specificity, conciseness,

involve a specified risk, and demand independent evidence that hypothetically supports

assumptions concerning future uncertainties in a business. Otherwise, leaders should

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not make assumptions based on the nature of the service to be provided, but they

should follow the properly implemented and supported assumptions pertaining future

uncertainties.
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References

Bizshifts-Trends. (2014, February 13). Challenge Business Assumption– Strategy,

Market, Customer… Based on False Assumptions, Fail: Hope-Wish Not an

Option. Bizshifts-Trends. Retrieved December 9, 2014, from: http://bizshifts-

trends.com/2014/02/13/challenge-business-basic-assumptions-strategy-market-

customer-false-assumptions-fail-hope-strategy/

Donald, M. (n.d.). Avoid Fatal Errors by Avoiding Untested Conclusions. Retrieved

December 9, 2014, from ManagerWise Management Articles:

http://www.managerwise.com/article.phtml?id=584