Why Contingency Planning? Importance and Benefits

Crisis Management (Contingency Planning)
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Anneke Zwart
Student (University), Netherlands
Simpkins (2009) argues that Contingency Planning (CP) is probably the most important topic of an organizationís overall strategic plan. The importance of preparing for any contingencies must not be underestimated. Contingency planning takes into account other outcomes than the expected and desired outcomes. And this is exactly what makes CP important. Indeed, the world of today and its business environment is changing at fast pace. Every organizaton has to deal with continuous and fast changing internal and external environmental dynamics. Important changes today are technological changes, globalization, market transformations, democracy and more. Successful leaders should consider and prepare for those possible changes. Contingency planning enables leaders to mitigate the negative consequences of those transformations on their organizations. Furthermore, CP makes leaders aware of and adapt to changes in consumersí preferences. Every product goes through a product l (...) Read more? Sign up for free

  Roland Alech
Consultant, France
 

Importance of Contingency Planning

HI! I agree fully. I add a few thoughts: - CP mig (...)

  Kirk C. Heriot
Professor, United States
 

Why Contingency Planning is Important

As Master Kahn used to say in the "Kung Fu" TV Ser (...)

  SANAJI
Teacher, Indonesia
 

Benefits of Contingency Planning

I think CP is not a new idea. We know that nothing (...)

  Tran le Phuong
Teacher, Mongolia
 

Preventive System

Each organization has its own Mission-Vision that (...)

  Dr. Alan Williams
Professor, Thailand
 

Another Reason for Contingency Planning

In a business organization the owner/CEO/BOD membe (...)

  Gopalakrishnan
Project Manager, Indonesia
 

Why Contingency Planning in Project Management

CP is to cover unknowns, unforeseen uncertainties, (...)

  K.Narayana Moorthy
HR Consultant, India
 

Why Contingency Planning is Important?

In business "contingency planning" conjures images (...)

  kipkosgei chepkiyeng
Manager, Kenya
 

Aims of Contingency Planning

CP is a kind of a road map when the planned does n (...)

  Bernhard Keim
Business Consultant, Germany
 

CP is Important, but not Enough to Handle Any Type of Catastrophe

When doing CP, we should always keep in mind that (...)

  shachi kanta khuntia
Interim Manager
 

A Contingency Fund is also Important to Serve as a Cushion at Need

In India, the age old tradition of giving gifts of (...)

  Ramakrishnan
Consultant, India
 

Relevance of Contingency Planning

The word contingency implies 'prepare for the unex (...)

  Nasir Sajjad
Consultant, Pakistan
 

Contingency Planning for Bad Days

CP provides a path to react smoothly to certain ev (...)

  Tito Rafael Hidalgo Barcia
Strategy Consultant, Ecuador
 

Contingence Planning Gives Confidence to an Institution

Contingence planning as a plan B gives any company (...)

  Mark Wm. Cawman
Student (Other)
 

Contingency Planning - PACER

To anticipate that flexibility is necessary, I hav (...)

  jorge anibal hoyos hoyos
Manager, Colombia
 

Why Resiliency Management is Mandatory

Contingency Management or Resiliency Management is (...)

  Guillermo Vasquez
Business Consultant, Colombia
 

Benefits of Contingency Planning

On a more strategic language, a contingency plan c (...)

  Edy Khalife
Manager, Lebanon
 

Benefits of Contingency Planning

CP allows firms to avoid the shock of complete sur (...)

  Emmanuel Mwirichia
Manager, Kenya
 

Lessons from World War Z

If you have watched the 2013 Brad Pitt movie World (...)

  Ramakrishnan
Consultant, India
 

Contingency Planning Should be Added to Fayol's First Management Role

Fayol's Five Management Roles model distinguishes (...)

  Omar HEMISSI
Professor, Algeria
 

A Risk in Emergency Planning

The complexity of more and more markets and increa (...)

 

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