N2Growth Blog
APRIL 5, 2010
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. The two most common outcomes created by a lack of contingency planning are: 1.) watching things grind to a halt as you scramble to evaluate options, and; 2.)
Strategy Driven
NOVEMBER 9, 2023
Effective financial management is a cornerstone of successful business operations. Without sound financial strategies, even the most innovative and promising ventures can stumble and fail. Companies should have risk management plans, including insurance coverage, emergency funds, and contingency plans.
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Strategy Driven
NOVEMBER 6, 2015
When you own and operate a business you need to have certain procedures for an efficient and seamless function. Sometimes the difficulty of managing your time makes for a haphazard operation. An inefficient operation results in unproductive activities which often miss the point and worse yet, result in wasted time and wasted resources.
Strategy Driven
JULY 27, 2019
The scale of operation does not matter; however, what matters is how well you allocate each resource to put them to its best use. Come Up With a Contingency Plan. An elaborate and extensive planning process is necessary for your business to score well and chart monumental heights of success. There has to be a plan B.
Skip Prichard
JULY 19, 2021
His book, Lessons from the Navy: How to Earn Trust, Lead Teams, and Achieve Organizational Excellence is loaded with advice to help all leaders aspiring to operate at the highest levels. A few months prior, I had been selected to be executive officer, or XO (Chief Operating Officer), of U.S. Naval Hospital Rota, Spain. Be proactive.
Harvard Business Review
JUNE 2, 2015
In my former position as Managing Director of Philip Morris Ukraine where I was based from January 2012 until February 2015, I was forced to see it as a business crisis that threatened our people, operations, and bottom line. Our Director of Operations led our special situations management team to respond to threats and constant changes.
Harvard Business Review
AUGUST 15, 2011
Time away while accumulating new experiences can stimulate imagination and support innovation. Are there continuity, backup, and contingency plans? Even in quiet times, there's a chance for mischief or missteps if leaders leave a vacuum, with no one clearly in charge and lack of clarity about how to operate.
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