As the Merriah-Webster Dictionary states, uncertainty stands for something that is doubtful or unknown; something that is uncertain. It is this lack of capability to foresee what will come next which represents the main challenge. It should be reality managing oriented to acquire acceptable stability parameters.
It is possible to refer to political uncertainty, social uncertainty, economic uncertainty and other kinds, although, in this case the text is referring to its consequences on businesses.
Decision-making and failure
Facing extremely complex or VUCA (Volatile Uncertain Complex Ambiguous) situations steps must be taken. Paralysis is not an option and, therefore, mistakes will have to be assumed, but even the slight decision must be taken in order to solve problems.
Decision-making can lead towards success or failure, but not making any at all means failures for granted. This is not the kind of failure that arises from taking the wrong step or not succeeding in businesses, from which something must be learned. My point here is the failure that grows from fearing failure. Nevertheless, as Winston Churchill pointed out, “success is walking from failure to failures with no loss of enthusiasm”.