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    Business Plan - Contingency-Business-Plan

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    omermehmood2018
    The document discusses contingency planning for businesses, including defining contingency plans, comparing them to risk management and crisis management plans, and providing examples of environmental and technology contingency plans. It also provides guidance on creating contingency plans, such as identifying risks and impacts, and tips to avoid like lack of buy-in or one-time plans.

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    Business Plan - Contingency-Business-Plan

    Uploaded by

    omermehmood2018
    5 views2 pages
    The document discusses contingency planning for businesses, including defining contingency plans, comparing them to risk management and crisis management plans, and providing examples of environmental and technology contingency plans. It also provides guidance on creating contingency plans, such as identifying risks and impacts, and tips to avoid like lack of buy-in or one-time plans.

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    business plan_contingency-business-plan

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    The document discusses contingency planning for businesses, including defining contingency plans, comparing them to risk management and crisis management plans, and providing examples of environmental and technology contingency plans. It also provides guidance on creating contingency plans, such as identifying risks and impacts, and tips to avoid like lack of buy-in or one-time plans.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    5 views2 pages

    Business Plan - Contingency-Business-Plan

    Uploaded by

    omermehmood2018
    The document discusses contingency planning for businesses, including defining contingency plans, comparing them to risk management and crisis management plans, and providing examples of environmental and technology contingency plans. It also provides guidance on creating contingency plans, such as identifying risks and impacts, and tips to avoid like lack of buy-in or one-time plans.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    According to me if I am right as business professional, contingency business plan is very important for

    the original plan gone off track. If I say in simple words, it helps in getting back your business on track.

    If I say about contingency plan vs risk management plan, then they are both supports to each other. Like,
    the contingency plan cover risks in the business plan.

    If I say about contingency plan vs crisis management, then I must say that the contingency plan is pre-
    planned risk management.

    In the contingency plan, I must include;

     Strategies to ensure minimal operational disruption during crises, such as unexpected


    market shifts, regulatory compliance changes, or severe staff shortages.
     Partnerships with external agencies that can provide support in scenarios like
    environmental hazards or public health emergencies.
     A comprehensive communication strategy with internal and external stakeholders to
    provide clear, timely information flow during crises like brand reputation threats or legal
    challenges.

    If I am not wrong, the word “environmental contingency plan”, is vitally used where natural disasters
    occurred or may occur. Such type of plan is used by the government department & businesses
    demographically.

    Here I always include: -

     The names and information of the people designated to handle certain tasks in advance to
    ensure the emergency response is quick and concise
     Ways to educate the public on how to respond when an earthquake hit
     A timeline for emergency responders.

    Likewise, in the technology contingency plan, where high-level data security is concerned, this plan is
    used by the organization privately and by the government. It includes hacking threats, servers damage by
    the power fluctuations etc.

    Here I always follow: -

     The steps to take and key team members to notify in order to get data adequately secured
    once more.
     To record the names and information of stakeholders to contact to discuss the impact of
    the data breach and the plan to protect their investment.
     A timeline to document what is being done to address the breach and what will need to be
    done to prevent data breaches in the future.

    To create contingency plan, I always: -

     Make a list of risks: -


     Weigh risks based on severity & likelihood: -
     Identify important risks: -
     Conduct a business impact analysis: -
     Create contingency plans for the biggest risks: -
     Get approval for the contingency plans: -
     Share the contingency plans: -
     Monitory contingency plans: -
     If necessary, create new contingency plans: -

    Here is what I always avoid creating contingency plan which includes: -

     Lack of buy-in: -
     Bias against “plan-b” thinking: -
     One & done contingency plans: -

    My simple words to avoid contingency plan are: -

     I always check to reinforce the benefits of a contingency plan.


     Make multiple plans for every scenario to find a professional solution when I am prepared for a
    problem.
     Revisit the contingency plan to ensure new risks accounted for.

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