Contingency Planning | N2Growth Blog

N2Growth Blog

While this is understandable, it is nonetheless naive, and it constitutes a major flaw in the business logic of most strategic plans. This is so much the case that the most often overlooked aspect of strategic planning is adequately addressing contingencies as part of the planning process. Smart leaders view obstacles as a constant rather than a variable, and incorporate that thinking into their planning.

Some Ideas To Help Accelerate Your SWOT Analysis

Six Disciplines

It''s also used to articulate the challenges an organization has, enabling contingency plans. Products and Services (price, quality, Finances (stability, profitability, debt to equity ratio). A SWOT analysis is a tool used to assess an organization''s strengths, weaknesses, opportunities and threats. The purpose of using the SWOT tool is to uncover or reveal the organization''s competitive advantages, and what opportunities (sales, profitability) to capitalize upon.

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Ideas To Help Accelerate Your SWOT Analysis

Six Disciplines

It's also used to articulate the challenges an organization has, enabling contingency plans. Products and Services (price, quality, Finances (stability, profitability, debt to equity ratio). A SWOT analysis is a tool used to assess an organization's strengths, weaknesses, opportunities and threats. The purpose of using the SWOT tool is to uncover or reveal the organization's competitive advantages, and what opportunities (sales, profitability) to capitalize upon.

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Preparing Your Small Business For A Disaster

Strategy Driven

For many businesses, that is a plan for what you would do to get your business back up and running after a disaster strikes. Almost three-quarters of small business owners do not have a written disaster recovery plan. Small business owners wear many hats.

The Big Picture of Business – Business Success Checklist

Strategy Driven

Plan for the future. When your business has contingency plans for future scenarios you will seldom be caught by surprise. Most successful businesses have planned responses to most scenarios because they took the time to think “What If”. Plans are in writing to address inventories and reducing surplus. Legal compliance and precautions plan is annually updated, with measurable goals. Purchasing plan (with processes and vendor lists) is in writing.

How to Allocate Resources Effectively In a Business Enterprise

Strategy Driven

These resources could be related to something as complicated as finances or something very human as the workforce. Also, when we talk about allocating resources, it is not just the duty of the management to chalk out efficacious plans that would cater to the topic at hand. However, the most important ones, which are more like umbrella terms are- finance, time and workforce. Come Up With a Contingency Plan. There has to be a plan B.

10 Communication Tips for Leaders

N2Growth Blog

Bonus - Always have a Plan B : Another component of communications strategy that is rarely discussed is how to prevent a message from going bad, and what to do when does. It’s called being prepared and developing a contingency plan.

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3 Emerging Market Risks Companies Should Watch for in 2018

Harvard Business

Top leaders tend to focus more on status updates than on contingency planning. When it comes to risk in Mexico, companies are paying attention to the fraught NAFTA negotiations, but not the domestic politics that could damage business plans far sooner than any NAFTA changes. Either candidate’s success could cause sufficient uncertainty for Brazilian businesses to put the brakes on investment plans. miragec/Getty Images.

Why Quants Should Manage Your Supply Chain Risk

Harvard Business Review

In an uncertain and volatile world, risk management — a previously unsexy subject for many managers who created annual updates or reviews of their company's risk management plans — is now a front-burner issue for many. This is a concept fundamental to finance but that, for some reason, has not migrated into supply chain risk management. Many leading companies are already moving in this direction, adding finance PhD's and actuaries to procurement and supply chain teams.

The Olympics as a Story of Risk Management

Harvard Business Review

Simulations of security incidents were rehearsed, and contingency plans for mass evacuations or emergency situations were put in place. One key to effective risk management is the ability to distinguish between phenomena that cannot reasonably be foreseen and dangers that are "self-inflicted" because they could be avoided by thorough planning and careful execution. A lot of things didn't happen at the Olympics this year, all of which were extensively prepared for.

Fixing the Euro Zone and Reducing Inequality, Without Fleecing the Rich

Harvard Business Review

But the recent attempt to launch a major infrastructure program in the euro zone – the so-called “ Juncker plan ” – illustrates that such proposals are hindered by politics, are rarely timely, and are often insufficient in scale to make a real difference to the larger economy. So one solution suggested by a growing number of economists in Europe is for central banks to “helicopter drop” money , and directly finance private sector spending.

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What a Changing NAFTA Could Mean for Doing Business in Mexico

Harvard Business

While consumer spending has proven resilient, with same-store retail sales rising 6% YOY in April , most multinational corporations are developing contingency plans to mitigate risks to their businesses and reassessing the country’s role in their global market portfolio and supply chains. In this scenario, which most now deem highly unlikely, multinationals would require a full strategic reset for their short-term operating plans.