(a) Critically evaluate the problem of uncertainty surrounding the small firm's environment and its impacts on performance (40 marks). (b) Since small firms have limited ability to plan and control the external environment, discuss critically how small firms attempt to overcome the problem of uncertainty (60 marks). Note: In the answer to part (b), students are expected to draw an example from a case study they are familiar with of how firms may respond to the crisis, uncertainty and change in order to overcome/cope with the crisis.

three thousand words