A major benefit of contingency planning is for a strategic leader and/or manager to be in a position to delay in responding to expected and unexpected occurrences that require a contingency plan. Select one: True False
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A major benefit of contingency planning is for a strategic leader and/or manager to be in a position to delay in responding to expected and unexpected occurrences that require a contingency plan.
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- What are the potential risks and uncertainties associated with planning, and how can organizations mitigate these risks through contingency planning and risk management strategies?According to David (2007), beneficial contingency planning typically undergoes a seven-step process. Which of the following are the first four (4) steps? a. Assess the impact of each contingency event; Specify trigger points; Develop contingency plans; Determine early warning signs. b. Develop advance action plans; Determine early warning signs; Specify trigger points; Develop contingency plans. c. Determine early warning signs; Assess the potential counter impact of each contingency plan; Identify both beneficial and unfavourable events; Develop contingency plans. d. Identify both beneficial and unfavourable events; Specify trigger points; Assess the impact of each contingency event; Develop contingency plans.Why is scenario planning important in business or in the workplace? How is scenario planning different from strategic planning? Explain it clearly so that I can easily understand. And also give example.
- Discuss the importance of contingency planning in the context of strategic management, and analyze how it helps organizations navigate uncertainties and unforeseen events.The table below lists several steps involved in tactical planning. For each step listed, indicate whether it is associated with the development or the execution of tactical plans. Distribute resources to responsible parties Monitor activities Specify the resources available Identify human resource constraints Assess outcomes Developing O O O O Executing O O O OThe table below lists several steps involved in tactical planning. For each step listed, indicate whether it is associated with the development or the execution of tactical plans. Communicate throughout process Determine human resource needs Identify the time constraints involved Obtain information needed Understand strategic plans Developing Executing O
- Some people say an organization could never be “prepared” for a disaster such as the shooting at Sandy Hook Elementary School, the Japan nuclear disaster, or the huge BP oil spill in the Gulf of Mexico. Discuss the potential value of crisis planning in situations like these, even if the situations are difficult to plan for.How do risk assessment and contingency planning contribute to the foundation of planning?What are the advantages and limitations of different types of planning methods, such as scenario planning or contingency planning?
- If I don't plan, then what's the point? Why is it beneficial to plan for IS implementation?The transition from strategy formulation to strategy implementation requires a shift in responsibility from strategists to divisional and functional managers. Managers and employees are motivated more by perceived self-interests than by organizational interests, unless the two coincide. Successful strategies implementation requires certain sequence of activities that need to be done to give this process a higher chance of success. Propose the 4 steps of activities needed with relevant examples.How does contingency planning relate to the core management skills of Planning and Controlling?