BUISENESS MANAGEMENT
BUSINESS PLANNING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
True
|
|
|
False
|
|
|
Either A or B
|
|
|
None of the above
|
Detailed explanation-1: -Answer and Explanation: The given statement is true. The contingency planning process is considered a proactive strategy. It helps in describing the actions or steps required to be taken by the management in case of any unforeseen event in the future.
Detailed explanation-2: -Answer & Solution A contingency plan is a plan devised for an outcome other than in the usual (expected) plan.
Detailed explanation-3: -A business contingency plan is a strategy for how your organization will respond to important or business-critical events that knock your original plans off track. Executed correctly, a business contingency plan can mitigate risk and help you get back to business as usual-as quickly as possible.
Detailed explanation-4: -Contingency Planning occurs when a business plans for impossible and unlikely events.