There are many components that drive environmental uncertainty, such as government, clients, suppliers, competitors, technology, etc. Among all these components, market, technological, and competitive uncertainty are the most popular. It is due to their rapid ongoing changes and developments.
Market Uncertainty
The rate of change in customer composition and preferences is what market uncertainty is about. It describes changes in customer preferences and needs and how they may affect an organization. Kessler (2013) said market uncertainty talks about vagueness regarding the type and level of customer needs. A fast-changing and developing market might cause a high level of market uncertainty. In these situations, it is hard for companies to know who the customers are, their desire, and how they can be reached
Technological Uncertainty
Technological change in an organization's environment is what technological uncertainty describes. As technology has a dynamic quality, an organization has to adapt to the newest form of it frequently. Technology uncertainty also discusses how familiar an organization or company is with the given technology. According to Kessler (2013), when a company lives in an environment where the technology is new or continually evolving, the higher the technology uncertainty
Competitive Uncertainty
According to Darvishmotevali (2020), competitive uncertainty talks about the unforeseeable occurrences within a company and their crucial competitor's nature, plans, strategies, and response towards environmental changes. Competitive uncertainty refers to the company's incapability to address the intense forthcoming competition, competitors' relative power, and competitor's tactics and strategy.Â
