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A Level Business Studies - Business Objectives And Strategies > Contingency Planning And Crisis Management > Flashcards

Flashcards in Contingency Planning And Crisis Management Deck (5)
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1

Define what a contingency plan is

A contingency plan is a plan devised for if there is an outcome other than what was in the expected plan

2

What is the first part of a contingency plan

Identify how and what may go wrong

3

What is the second step of a contingency plan

Identify potential effects if things do go wrong

4

What is the third step of a contingency plan

Devise plans to cope with threats to the expected plan

5

What is the fourth step of a contingency plan

Put strategies in place to deal with the risks before they happen