Risk versus uncertainty
Risk versus uncertainty
Businesses face change from interest-rate rises, supply disruption and new technology such as AI. Risk is the chance of a worse-than-expected outcome when managers can estimate the likelihood to some extent, while uncertainty is when reliable probabilities are not available.
Step-by-step lessons on AQA A Level Business Risk and uncertainty. Each one builds up to exam-style questions. Build up your knowledge of the core business functions first, then focus revision time on the strategy and evaluation-heavy topics, since these carry the most marks.