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@PmoInsights · 10:26am - 16 Jan 2022
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Easy Guide : Business Contingency Planning

What Is a Contingency Plan for a Business?
A business contingency plan is a strategy for responding to unforeseen circumstances that may or may not affect a firm in the future. Typically, a contingency plan is developed in response to a negative incident that might jeopardize a company's reputation or possibly its ability to continue operations. There are, however, good contingency plans in place, such as what to do if the organization receives an unexpected windfall of cash or other resources.
Contrary to a risk response plan, which is more of a reaction to a risk incident, a contingency plan is a proactive strategy. A company contingency plan is established to account for such disruptive situations, ensuring that you are prepared should they occur.
While any firm would prepare for its product or service to succeed in the market, the market is far from steady. That is why every organization should have a business contingency plan in pla
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