Chapter

The Need for Adaptability

G. B. Richardson

in Information and Investment

Second edition

Published in print July 1997 | ISBN: 9780198292432
Published online November 2003 | e-ISBN: 9780191596810 | DOI: http://dx.doi.org/10.1093/0198292430.003.0008
 The Need for Adaptability

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The information upon which investment decisions are based can never be complete; we have therefore to consider how firms deal with the residual uncertainty. How do firms envisage uncertainty and what strategies are employed in response to it? What objectives are set and in what ways do firms secure the adaptability, such as is provided by versatile plant and liquid reserves, needed to deal with unexpected circumstances ?

Keywords: adaptability; expectations; liquidity; marketability; uncertainty

Chapter.  11641 words. 

Subjects: Microeconomics

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