_____ Enables Firms to Cope with Unexpected Events That Are

question 93

Multiple Choice

_____ enables firms to cope with unexpected events that are so sudden and devastating that they have the potential to destroy the organization if managers aren't prepared with a quick and appropriate response.

• A) Incident planning
• B) Contingency planning
• C) Strategic planning
• D) Crisis planning
• E) Emergency planning

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Definitions:

Legitimacy

The perception or recognition by stakeholders that actions, decisions, or leadership are appropriate, proper, and justified within a socially constructed system of norms, values, beliefs, and definitions.

Dependent Stakeholders

Individuals or groups who rely on a business's success or failure for their own benefit but don't have direct control over its operations.

Urgency and Legitimacy

The critical need for action combined with the recognized authenticity or credibility that prompts such action.

Producer Unit

A term used in economics and sociology referring to a group or entity involved in producing goods or services, often within the context of a family or small-scale enterprise.