Setting Contingency Plans in an Organization Is Considered Very Important

question 30

Multiple Choice

Setting contingency plans in an organization is considered very important today mainly because

• A) managers have historically been poor tactical planners.
• B) the government can charge firms with unfair business practices if they do not have such plans.
• C) conditions change rapidly in today's economic and competitive environments.
• D) most employees and staff don't understand strategic planning, so they tend to rely more on contingency plans.

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Definitions:

Global Commodity Chain

The worldwide network of production and distribution processes through which a product passes until it reaches the consumer.

Transnational Commodification

The process by which goods, services, or ideas are marketed and sold across national borders, turning them into commodities within the global marketplace.

Designer Jeans

High-end jeans often made by or branded by leading fashion designers, characterized by unique designs, high-quality materials, and a higher price.

Transnational Corporations

Are large businesses with head offices in rich countries. They rely increasingly on foreign labour and foreign production; skills and advances in design, technology, and management; world markets; and massive advertising campaigns. They are increasingly autonomous from national governments.