Uncertainty and Enterprise: Amar Bhidé on Risk, Imagination, and Innovation

IMD Dean of Faculty and Research Stefan Michel sits down with Amar Bhidé - Emeritus Professor at Tufts University, and a founding member of the Center on Capitalism and Society at Columbia. 

Drawing on insights from his latest book, Uncertainty and Enterprise: Venturing Beyond the Known, Amar unpacks the vital difference between risk and uncertainty, why this matters for entrepreneurs, and how imagination shapes decision-making in business and innovation.

In today’s business environment, true visionaries rely on contextual judgment rather than just statistical models. And though the evolution of AI will bring many opportunities, understanding its pitfalls remains key to success. Amar discusses these issues and the surprising role that routines play in enabling creativity and collaboration.