There's a line from one of "The Matrix" films: "We cannot see past the choices we don't understand." In the end, I think that this statement says a great deal about managing through periods and conditions of uncertainty. Managers do not possess a transcendental point of view that allows them to see everything beyond what is present. In periods or instances of uncertainty, managers must take as much information as possible that is available to them and make decisions that will operate in the best interests of the organization. They have to live with perpetual doubt and some insecurity in such periods of time. In the end, managers can only make decisions that they see in front of them and the periods of uncertainty will test this ability to ensure this.
He needs to conduct a thorough market intelligence to get to the bottom of the uncertainty this would shed better light on the anticipated scenario and the likelihood of sub sequent occurences. Based on this he needs to engage top management to brainstorm on issues at hand and to get ownership to decisions to be made. It is then that decisons could be taken taking heed to risks involved attempting to get the best out the given situation. Support of your team is the most critical element in turbulent times so the manager should engage key stakeholders in the process of decision making.