C1 The chapter introduces a four-level model of uncertainty – from relative certainty to genuine uncertainty (Figure 2.7). Try to match diferent decision situations to each of the levels.

Which level (1–4) is best matched with the following kinds of decision situations?

1 How many teachers do we need to hire to fll our needs next semester (school planner)? 2 Should we invest in a new store in city X (apparel chain)? 3 Should we introduce a new electric scooter to the X market (bicycle agency)? 4 What technical platform and e-commerce system shall we join in to (apparel shop)?

5 Shall we specialize in traditional paper books, downloadable e-books or pivot into the streaming audiobook sector (traditional book publisher)?

6 This venture will be proftable if the taxes are stable and no new regulations occur. Shall we move on (live casino provider)?

7 We are ofered a strong position in a small pharma company with a promising vaccine against the coronavirus. Is it wise to invest (venture capitalist in the early stages of the coronavirus crises May 2020)?

8 We need to take a stand in the question about investing in a new huge high-speed railway system planned to be ready ten years from now, and then stay in use for at least 80 years (political party).

9 Our stakeholders urge us to speed up the international expansion and move into the promising Russian market (marketing consultant company).
10 I’m ofered the opportunity to take over an established dentist’s surgery in my fourishing hometown. Should I accept?
11 What strategy should we choose to fght the coronavirus pandemic? Imagine yourself being in charge in the early days of the outbreak (≈ April 2020).