Hence, it is not surprising to see an enormous physique of literature exploring the character of threat and uncertainty, their impression on international business performance and underlying methods utilized by firms to identify, forecast, mitigate and manage these of their everyday operations . However, there is still confusion between threat and uncertainty with many utilizing these terms interchangeably. Firms involved in international business need to handle different varieties of dangers, similar to political, country, international exchange, and cultural threats (Eduardsen & Marinova, 2020). Similarly, uncertainty impacts firms’ alternative of path and entry mode for internationalization, velocity of international growth, and commitment to internationalization (Magnani & Zucchella, 2019).

Future research could study from these experiences and try to present extra formal definitions of these new forms of uncertainty (e.g., social and informational) and incorporate these within a extra complete conceptual framework of uncertainty in international business context. The Covid-19 disaster additionally highlights the importance of other forms of uncertainty that have hitherto been ignored in international business research, similar to social and informational uncertainty that may likely have inevitable economic repercussions. For instance, the success of social distancing and different restrictions depends on the extent to which the society as a …