David, with three years experience as a junior executive at Orchid Communications, a technology company, graduated with a business degree. He was recently given a managerial role in the planning and product development department. During a departmental meeting, some executives expressed their concern about spending too much of their time in developing plans, given the uncertain times. David knew that a good understanding of the different types of plans and the process of developing planning would help the executives appreciate the significance of planning even in the dynamic environment.

(b) The process of developing plans is influenced by three contingency factors. Assuming yourself as David, briefly discuss the three (3) contingency factors, that were covered in your course, to convince the executives how planning can be flexible to suit the uncertain times.