Question: I'm having a hard time differentiating between Contingency Planning and Scenario Building. I understand Contingency planning identifies important factors in the environment and unexpected conditions

I'm having a hard time differentiating between Contingency Planning and Scenario Building. I understand Contingency planning identifies important factors in the environment and unexpected conditions but Scenario building could have similar conditions. Is there a clear cut way to differentiate the two?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Summarize the following chapter: (Basic Elements of Planning and Decision Making) Obviously, insurance companies incur immense risks because of the number of policies they issue, but you may not know...

Make the summary of the following chapter "Basic Elements of Planning and Decision Making" . Obviously, insurance companies incur immense risks because of the number of policies they issue, but you...

Summarize the following chapter in your words: (Basic elements of Planning and Decision making) Decision Making and the Planning Process:> Decision making is the cornerstone of planning. Several...

Summarize the following chapter: (Basic Elements of Planning and Decision Making) Decision Making and the Planning Process Decision making is the cornerstone of planning. Several years ago, Procter &...

Summarize the given chapter: (Basic Elements of Planning and Decision Making) what are Decision Making and the Planning Process? Decision making is the cornerstone of planning. Several years ago,...

Unit 2: Designing the Operations Designing the operations of an organization or your department - precedes operational management. For .ll _ . example, suppose a wallet manufacture's mission is to '...

SUMMARY OF LEARNING OBJECTIVES AND KEY POINTS 1. Identify the basic elements of organizations. Organizations are made up of a series of elements: Designing jobs Grouping jobs Establishing reporting...

WINTER 2010 V O L . 5 1 N O. 2 Steven A. Melnyk, Edward W. Davis, Robert E. Spekman and Joseph Sandor Outcome-Driven Supply Chains REPRINT NUMBER 51221 S U P P L Y C H A I N : M A N A G I N G F O R M...

National Business Institute of Australia 20 Clark Rd. Ivanhoe Victoria 3079 www.nbi.com.au 03 9499 7872 FNSORG601A Negotiate to achieve goals and manage disputes Student Workbook melbourne . sydney ....

In late 2011, what further information did the SEC provide about its plans with respect to future convergence between U.S. GAAP and IFRS?

Compare the demand and supply for staffing requirements and identify shortages and surpluses. Define staffing strategies that will eliminate or lessen gaps. Provide a conclusion for the project.

El Arroyo North has 1 4 employees within Denver City and County. All the employees worked a predominant number of hours within the city. The employees earned $ 9 . 5 0 per hour and worked 1 6 0 hours...

When older adults have difficulty with transportation and communication, or may be reluctant to request needed assistance to which they are entitled, they may be in need of: Group of answer choices...