Which of the Following Statements About Contingency Plans Is NOT

question 77

Multiple Choice

Which of the following statements about contingency plans is NOT true?

• A) Contingency plans should be as simple as possible.
• B) Only high-priority areas require the insurance of contingency plans.
• C) Contingency plans should be developed for favorable and unfavorable events.
• D) Strategists should plan for all possible contingencies.
• E) Contingency plans minimize the impact of potential threats.

Evaluate the economic and efficiency impact of production process changes within a firm.

Examine the strategies firms adopt in response to R&D challenges and competitive pressures.

Understand the concept and strategic implications of "fast-second strategy" in competitive markets.

Grasp the inverted-U theory related to industry concentration and R&D expenditures.

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Definitions:

Time Management

The process of organizing and planning how to divide one's time between specific activities to maximize effectiveness and productivity.

Calendar-Bound

Activities or tasks that are strictly scheduled or have to be performed at specific times according to a calendar.

Planning

The process of defining goals, establishing strategies to achieve those goals, and developing plans to integrate and coordinate activities.

Management Process

Planning, organizing, leading, and controlling the use of resources to accomplish performance goals.