Contingency planning is a risk mitigation process for developing back-up plans in anticipation of events (scenarios) that might disrupt ‘business as usual’. Business continuity planning is an expanded version of contingency planning that typically encompasses a more comprehensive and extended response plan for getting back to ‘business as usual’. In a well-formatted, highly-detailed research paper, address the need to contingency planning, ensuring to address the following items:
Your paper should meet the following requirements:
Be approximately four to six pages in length, not including the required cover page and reference page. (Remember, APA is double spaced)
Follow APA 7 guidelines. Your paper should include an introduction, a body with fully developed content, and a conclusion.
Support your answers with the readings from the course and at least two scholarly journal articles to support your positions, claims, and observations, in addition to your textbook. The UC Library is a great place to find resources.
Be clearly and well-written, concise, and logical, using excellent grammar and style techniques. You are being graded in part on the quality of your writing.
Wang, H.-M. (2003). Contingency planning: emergency preparedness for terrorist attacks. IEEE 37th Annual 2003 International Carnahan Conference OnSecurity Technology, 2003. Proceedings., Security Technology, 2003. Proceedings. IEEE 37th Annual 2003 International Carnahan Conference on, Security Technology, 535–543. https://doi.org/10.1109/CCST.2003.1297616
Answer preview
Scenario planning equips an organization with the requisite know-how to act swiftly in high-pressure situations (Oliver & Parrett, 2018). Time is a great asset in business, and one’s success often depends on how one can utilize time as a resource to maximize opportunities and minimize adverse consequences. The obvious advantage of scenario planning is that it creates a blueprint for a business to become proactive rather than observe things passively and react when it is probably too late to salvage the situation. If a foreseen event occurs, then a business entity with a comprehensive event planning process will have a relatively faster decision-making process than unprepared entities.
