Operating with Uncertainty

Operating with Uncertainty Image

Uncertainty. It's the word of our times amidst a sea of unsettling issues and unpredictable outcomes. We are facing wars in Europe and the Middle East; awaiting major elections around the world including the US Presidential; and dealing with climate change and the carnage of highly destructive hurricanes, tornadoes, and wildfire hazards.

The economic environment has also been uncertain. After the highest inflation in the US in more than 40 years (does anyone remember the 30-year mortgage rate of 16% in 1981?), a soft landing is now expected. The banks, the bellwethers for high-interest rate impact, reported positive 3Q results.

Regardless, Jamie Dimon, CEO of JPMorgan, cautions that geopolitical risks remain a looming threat. When Jamie Dimon talks, everyone listens. Uncertainty remains center stage in what is now described as a BANI world: an acronym that describes how brittle, anxious, non-linear, and incomprehensible our world is today.

What are business and marketing leaders to do?


There's little doubt that uncertainty fuels the need to proceed by taking carefully calculated risks. It also means paying close attention and staying flexible. This translates into encouraging collaboration, expanding input from a chorus of internal and external voices, and operating with a wide lens to be open to new ideas and possibilities. Keith Myers, CMO of Transportation Solutions at TE Connectivity writes about this in Leadership in a BANI World. One of the tenets of BANI is that in an uncertain world, there are opportunities to be found.

Marketers must also keep their eyes on the prize and not lose their mojo. If uncertainty makes you hold off on the next big product push or campaign, consider focusing on key fundamentals that help gain market clarity and create heightened differentiation. Here are three examples:


We can count on uncertainty in our personal lives too.


In mid-August, Jake Wengroff, my friend and colleague who helped me form MJ Lilly Associates, died unexpectedly. We worked together for more than 25 years, and he often contributed to these Insights. Jake was among the smartest, funniest, and most intellectually curious people I ever knew, and a bundle of unbridled positive energy.

Jake was rarely sick and full of life, which made his passing from natural causes a painful, numbing shock. It’s an unfathomable loss for the many of us whom he touched, and I thank everyone who kindly reached out with their condolences.

The one thing Jake always professed is that you can never be sure of anything. Everything is uncertain.

So once again, Jake is a contributor to this Insight, reminding us that it’s important to make everyday matter, even as uncertainty looms. We must do this in business, and our lives as well.

Uncertainty Image

Jake Wengroff, 1970-2024.

Rest in peace and know you are missed.

This Insight was prepared by Maria Lilly. As always, comments and feedback are welcomed.