Discuss the contingency factors that affect planning.
Answers
Answer:
heya! The factors are as follows=
1) Goals
One of the primary factors that influences contingency planning are the goals of the business owner or owners. The way business owners choose to respond to different contingencies will reflect their ultimate goal for the business.
2) Government Regulations
Government regulations can have a large impact on businesses, and a contingency plan might include instructions for how the company should deal with changing regulations.
3) Profitability
A business owner might decide to pursue different courses of actions in response to certain contingencies based on the profitability of the company.
4) Considerations
The amount of time spent on brainstorming possible contingencies and how to deal with them can influence the thoroughness of contingency planning.
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