Which of the following is true about contingency planning?
A) Planning that is specifically concerned with the formulation of a company's budget is referred to as contingency planning.
B) Planning that is concerned with what to do if the original plans don't work out is known as contingency planning.
C) Planning that is primarily concerned with setting a mission statement is referred to as contingency planning.
D) Planning that is primarily concerned with dealing effectively with whistle-blowers is known as contingency planning.

Question

Quizplus · Accepted Answer

Contingency planning involves preparing alternative actions or strategies in case the original plans fail. It aims to minimize negative impacts and ensure continuity of operations in unexpected situations, such as natural disasters, economic downturns, or managerial errors. It is not limited to budget formulation, mission statement setting, or whistle-blower management, although these activities may be incorporated into contingency plans.

Which of the Following Is True About Contingency Planning