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.

Managers: What’s Your Plan B?

Lead Change Blog

Others, full of optimism, forge ahead with gusto, experience meteoric success, and later face a precipitous change in fortune due to a circumstance that could have been planned for. For career and business success, it’s worth pursuing a middle ground—one where we take calculated risks but have a fallback strategy in case Plan A craters. I found myself wondering if better contingency planning could have mitigated the damage. Some people miss out on life’s opportunities.

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Extra Steps Your Business Should Take When Risks Are Involved

Strategy Driven

Have a Plan for When Tech Disaster Strikes. We rely so much on computers and various other forms of technology. All of these things need to be planned for properly. Risk Management contingency planning risk management strategydrivenRunning a company is risky business. There is no risk-free way of doing it. So, you should try to learn how to handle risks better. Your business will face all kinds of different risks.

Tips To Help Your Business Succeed

Strategy Driven

Always have back up plans. A back up plan is vital, it means that if something were to inevitably go wrong – which let’s face it, happens all the time, no matter how prepared you are – you are ready.

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10 Technology Problems Modern Business Owners Have To Deal With

Strategy Driven

To set your business up for the greatest success, you need to understand the sort of issues you’ll deal with regularly, and have some plan of action to handle them. Cybercrime is like the mirror image of “white hat” technology use. Monitoring, support, firewalls, antivirus solutions, and the latest technology patches are all key means of fighting cybercrime, as is internal education. IV: Technological Transition Along Moore’s Law Lines. Overcoming Common Tech Issues.

Some Ideas To Help Accelerate Your SWOT Analysis

Six Disciplines

It''s also used to articulate the challenges an organization has, enabling contingency plans. Operations (facilities, capacity, distribution channels, supply chain, costs, use of technology). Technological (pace and changes in technology). A SWOT analysis is a tool used to assess an organization''s strengths, weaknesses, opportunities and threats.

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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. Operations (facilities, capacity, distribution channels, supply chain, costs, use of technology). Technological (pace and changes in technology). A SWOT analysis is a tool used to assess an organization's strengths, weaknesses, opportunities and threats.

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The Fear of the Finger

Nathan Magnuson

A business executive continues with a risky plan in spite of damning information in hopes it will work out because to turn back would be to appear to admit defeat. The market changes, a new technology comes along, the weather fails to cooperate. Have a plan and a contingency plan. I’m afraid I’ve come to recognize a serious leadership deficit today in America. It’s probably nothing new. It’s what I call “the fear of the finger.”

5 Golden Rules for Managing Business Logistics

Strategy Driven

Proper planning is mandatory for an efficient logistics system. Before you make any sweeping changes to your business, it’s vital that you plan out all of your actions to ensure that you’re not missing anything and that you’ve included everything that is a part of your logistics chain.

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.

We Need to Approach AI Risks Like We Do Natural Disasters

Harvard Business

Intelligent Device Recovery Plans. Like the risks associated with natural disasters, companies cannot completely protect against smart-device risks by buying insurance; they must have worst-case scenario recovery plans. Contingency plans must go beyond a natural disaster playbook. Information & technology Security & privacy Risk management Digital ArticleJose A. Bernat Bacete/Getty Images.

As Promised – Very Long Post on Managing Remote Teams | Survive.

Survive Your Promotion

Many companies are still reluctant to allow people to work from anywhere, even though their technology supports it. Get together at a coffee shop or the office if you are physically near one another, or use technology to have a virtual chat session using a tool like Virtual Meeting or Skype. Spend some time using the SMART goal planning process so that you know you and your team are on the same page about what’s important and when it’s due. Survive Your Promotion!

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Change Leadership: Overcoming Change Fatigue and Organizational Burnout

Strategy Driven

Piloting, prototyping, and contingency planning before a change can save weeks or even years of rework. For example, a major bank tried to do a technological transition of their system without sufficient pre-testing. For any business, large or small, corporate change is critical for survival. Unfortunately, though, many of us are juggling multiple change initiatives simultaneously.

5 Ways the Best Companies Close the Strategy-Execution Gap

Harvard Business

In our experience at Bain & Company, however, this strategy-to-performance gap is rarely the result of shortcomings in implementation; it is because the plans are flawed from the start. Too many companies still follow a “Plan-then-Do” approach to strategy: The organization works tirelessly to create its best forecasts about the future market and competitive landscape. The Plan-then-Do approach is obsolete – even dangerous. James Balog/Getty Images.

How to Allocate Resources Effectively In a Business Enterprise

Strategy Driven

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. 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. You need to plan everything-from hiring the right people for your job to handling finances; everything has to be hassle-free.

Book Review: “Great by Choice: Uncertainty, Chaos, and Luck – Why Some Thrive Despite Them All”

The Practical Leader

It’s the culmination of a nine year research project that began in 2002 "in the aftermath of 9/11 and the bursting stock bubble, watching the exponential rise of global competition and the relentless onslaught of technological disruption, hearing the rising chant of ‘change, change, change…’" While a faculty member at Harvard Business School, Morten Hansen provided Jim Collins with input on his seminal book, Good to Great.

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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Good Cybersecurity Doesn’t Try to Prevent Every Attack

Harvard Business

The biggest mistake I see is companies treating cybersecurity solely as a technology matter for IT departments to solve. That’s why I stress the value of a cyber risk management framework that begins by focusing on the business factors driving growth and profitability and ends with the technology infrastructure. Companies that can talk about upcoming changes and plan for them in advance can build adaptive, agile, and effective cybersecurity strategies.

Immigration Is at the Heart of U.S. Competitiveness

Harvard Business

At that moment, looking up from the bottom of the escalator, the idea that I would one day run a technology company seemed unfathomable. Employees asked whether we have a contingency plan if they were unable to reenter the U.S. The technology sector already suffers from a significant talent shortage. John F. Kennedy Airport, 1981. I was 11 years old, and my mom and I had just arrived from Guyana. Together, we had $34.

Balancing Parenting and Work Stress: A Guide

Harvard Business

The same kind of technologies that enable you to compete at work — the calendars, the shared work tools — should be used at home. ” Have a Plan B — and don’t wait for a crisis to use it. An effective contingency plan lets you consistently deliver at work and at home — and reduces your stress significantly. “Ask for a flexible schedule — it’s the only way to balance work and family.”

Businesses Are Now Combatants in a Cyberwar with China and Iran

Harvard Business Review

to Amazon Web Services and/or other cloud providers, you need to know their security protocols and contingency plans have intensified to mission-critical. China Information & technology InternetAmerican banks reportedly come under hostile cyberattack from Iran. Elite media companies confirm their firewalls have been breached by successful Chinese cyberattacks.

The Rise of the Not-So-Experienced CEO

Harvard Business Review

The phenomenon of fast-track CEO succession appears to be most prominent in the retail, technology, media, and telecommunications sectors—all of which are particularly affected by disruptive business models and new competitors. In the first, a corporate board persuades a high-performing and dependable CEO to stay longer than planned at the helm to keep a steady hand on the tiller, maintain progress, or weather an upcoming storm. Succession planning

What It Was Like to Be a Manager in Ukraine

Harvard Business Review

” Through that discipline, it became almost automatic to imagine options, craft emergency plans, and identify trigger points to propel us into action. Our Director of Information Systems became a technological tactician who worked out a plan in record time to allow us work remotely in the event that fighting encroached on our offices. Most of the world views the turmoil in Ukraine as a geopolitical and humanitarian catastrophe.

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. These risks can emanate from the realm of security, public health, natural ecology, technology, or economics. 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.

How Multinationals Can Grow in the Middle East and Africa

Harvard Business

oil services provider McDermott International plans to build a fabrication yard at a Saudi Aramco shipping complex; Amazon bought the Middle East’s biggest online retailer Souq.com; and Boeing finalized its multi-billion dollar deal with Iran. unilaterally pulls out of the Iran nuclear deal), building contingency plans, and diversifying their portfolio of markets. Jennifer Maravillas for HBR.

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

Harvard Business Review

Increasing inequality of income and wealth has occurred across the developed world for the past 30 years, with the majority of the gains from technology, globalization and deregulation accruing to a small minority in each country. It would provide the Fed and Bank of England with a contingency plan should their economies faced renewed shocks. What do deflation and rising inequality have in common?

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