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Essay / Research Paper Abstract
This 5-page paper discusses how a consultant might present the need for a contingency plan to a small business owner. Bibliography lists 3 sources.
Page Count:
5 pages (~225 words per page)
File: AS43_MTsmbscont.doc
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Unformatted sample text from the term paper:
marketing plans. But one plan that can sometimes be overlooked is the contingency plan. In this paper, the writer has been asked to take on the role of a consultant
to small- and medium-sized businesses, who is responsible for encouraging the owners of these enterprises in the importance of contingency planning. Before doing
this, its important that these businessmen and women understand what, exactly, contingency planning is. In its most basic form, contingency planning is defined as "a systematic approach to identifying what
can go wrong in a situation" (Power, 2006). Contingencies can include everything from major, catastrophic events to low-probability occurrences that would, nonetheless, have a major impact on the business (Power,
2006). For example, events along the lines of the World Trade Center and Pentagon attacks on September 11, 2001 (United States) or the subway bombings that took place on July
7, 2005 (United Kingdom) are going to be very low probability. However, such an attack will have a definite impact on a small business - it can interrupt a supply
chain, it can impact customers who might not want to buy anything, it can put employees into "fear" mode." The one thing
we need to keep in mind, however, is that the objective of contingency planning isnt to develop a plan for every possible thing that can go wrong (Power, 2006). Rather,
the goal here is to determine major contingencies and possible responses (Power, 2006). Such a plan is important because there is no such
thing as a company that exists without any kind of threat to its existence. A small business is at the mercy of a lot of hazards ranging from natural disasters
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