Essence of risks and uncertainty in management

In a market economy, organizations need to take into account the existing moments of risks and uncertainties in order to be able to avoid them. At enterprises, decisions are often developed with insufficient data, and the results of decision making sometimes do not justify the planned ones, citing uncertainty and risks, eternal satellites of administrative structures. In some studies of risk management, an organization “risk” is a process that aims to achieve a goal that involves hazards, threats, losses, or failures. In addition, there are interpretations, where the risk - it is lost from the planned outcomes, unexpected results, or, more simply, a chance to lose something. But all interpretations have the same meaning that risk is interconnected with some bad results, losses, that risk characterizes uncertainty. In developed countries with a stable economic system, the manager calculates the costs of production goals for the manufacture of goods for the future. In practice, uncertainty and decision making are rarely met, due to the fact that in various cases it is possible to select some additional relevant data, analyze the situation, or make a decision based on reasoning, an intuitive approach, an accumulated administration skill that reduces uncertainties. Often, uncertainty is inherent in socio-cultural-political and knowledge-intensive areas of activity.