Contingency plans are alternative plans that can be put into place - TopicsExpress



          

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Contingency plans are alternative plans that can be put into place if events do not occur as expected. Plans based upon "most likely" events could be quite inappropriate if the set of events does not materialize. Contingency plans are prepared in advance to account for significant happenings that could occur but were not included in the basic strategic plan. Contingency planning forces managers to think in terms of possible outcomes, and leaves the firm ready to act if other than "most likely" events materialize.
Posted on: Wed, 19 Jun 2013 23:43:09 +0000

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