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:

Hydrogen Atoms

The simplest and most abundant type of atom in the universe, consisting of one proton and one electron.

ATP To ADP

The process by which adenosine triphosphate (ATP) releases a phosphate group to become adenosine diphosphate (ADP), releasing energy for cellular activities.

Equilibrium Point

A condition or state where all competing influences are balanced, often referred to in physical and economic models.

Competitive Inhibition

Binding of a substance (the competitive inhibitor) to the active site of an enzyme, thus lowering the rate of the reaction catalyzed by the enzyme. Compare with noncompetitive inhibition.