Setting contingency plans in an organization is considered very important today mainly because
A) managers have historically been poor tactical planners.
B) the government can charge firms with unfair business practices if they do not have such plans.
C) conditions change rapidly in today's economic and competitive environments.
D) most employees and staff don't understand strategic planning, so they tend to rely more on contingency plans.

Question

Quizplus · Accepted Answer

Contingency planning involves developing alternative plans that can be used if the primary plan proves unsatisfactory. This type of planning helps firms cope with changes in the economic and competitive environment that might render the primary plan ineffective.

Setting Contingency Plans in an Organization Is Considered Very Important