search query: @indexterm CONTINGENCY PLANNING / total: 87
reference: 6 / 87
| Author: | Roney, C.W. |
| Title: | Planning for strategic contingencies |
| Journal: | Business Horizons
2003 : MAR/APR, VOL. 46:2, p. 35-42 |
| Index terms: | Strategic management Contingency planning USA |
| Language: | eng |
| Abstract: | A critical survival skill in times of environmental turbulence and risk, contingency planning enables firms to adapt their strategies perpetually. Contingency planning simply entails the systematic, persistent assessment of the external environment and pragmatic preparation for reasonable range of alternative futures during the planning term. Managers can use the "contingency criticality matrix" to continuously track potential shifts in external business conditions, define alternative strategies as contingencies grow more plausible, and develop new strategies in a stepwise fashion as the likelihood of the contingencies grows. When the probability of a significant contingency exceeds that of the prevailing plan's assumptions, a more appropriate strategy is thus ready to replace the prevailing one. |
SCIMA