Business Essentials (12th Edition) (What's New in Intro to Business)
12th Edition
ISBN: 9780134728391
Author: Ronald J. Ebert, Ricky W. Griffin
Publisher: PEARSON
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Chapter 5, Problem 5.15A
Summary Introduction
To explain: If the management team need to develop contingency plans.
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How can contingency planning help organizations prepare for unexpected events and crises?
Conduct a personal analysis of yourself and an analysis of current situation. What are your strengths and weaknesses? What external opportunities or threats might affect any plans you might make? It should include a complete analysis of your current situation. Your discussion should focus on the following important points:a. Identify your three strongest soft skills (These must be the skills which you have practiced and developed in college). Show with evidence how you have developed these skills.b. Discuss about the experience in college and the current sources available to you to improve your soft skills.
What are the potential risks and uncertainties that may arise during the implementation of a strategic plan, and how can managers plan for and mitigate these risks?
Chapter 5 Solutions
Business Essentials (12th Edition) (What's New in Intro to Business)
Ch. 5 - Prob. 5.1QRCh. 5 - Prob. 5.2QRCh. 5 - Prob. 5.3QRCh. 5 - Prob. 5.4QRCh. 5 - Prob. 5.5QACh. 5 - Prob. 5.6QACh. 5 - Prob. 5.7QACh. 5 - Prob. 5.8QACh. 5 - Prob. 5.9AECh. 5 - Prob. 5.10AE
Ch. 5 - Prob. 5.11ACh. 5 - Prob. 5.12ACh. 5 - Prob. 5.13ACh. 5 - Prob. 5.14ACh. 5 - Prob. 5.15ACh. 5 - Prob. 5.16ACh. 5 - Prob. 5.17TECh. 5 - Prob. 5.18TECh. 5 - Prob. 5.19TECh. 5 - Prob. 5.20TECh. 5 - Prob. 5.21EECh. 5 - Prob. 5.22EECh. 5 - Prob. 5.23EECh. 5 - Prob. 5.24EECh. 5 - Prob. 5.25EECh. 5 - Prob. 5.26CCh. 5 - Prob. 5.27CCh. 5 - Prob. 5.28CCh. 5 - Prob. 5.29CCh. 5 - Prob. 5.30CCh. 5 - Prob. 5.31CCh. 5 - Prob. 5.32CCh. 5 - Prob. 5.33CCh. 5 - Prob. 5.34C
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, management and related others by exploring similar questions and additional content below.Similar questions
- Using the Internet and/or your prescribed textbook, conduct research on a management activity and answer the following questions: Use the example provided in the online resource and explain how each of the management activities relates to Zara. Provide a brief synthesis indicate whether you believe Zara makes use of management activities.arrow_forwardThe Internet has created new ways to do business for organizations with much less capital planning as opposed to the high capital needs of traditional brick and mortar organizations. Based on this, answer the following questions: How should management and leadership address each type of business? Describe the organizational structure of 1 traditional and 1 online retailer, identifying a management or leadership challenge for each type of retailer. Are the challenges basically the same or different? In what ways are they the same, or how are they different?arrow_forward2-3. What is the meaning of an organization’s mission?arrow_forward
- Management How can managers balance the need for detailed planning with the need for flexibility and adaptability in an increasingly dynamic and uncertain business environment?arrow_forwardYou are a business analyst for a company within your assigned industry. Your (real or fictitious) company senior executives have assembled a team and told them to come up with a plan to build resiliency given the changing global trade environment. You will have discussed the eVOL industry and resiliency. Individually come up with a proposed plan for your company. Use any planning framework that you want. Prepare a memorandum to the CEO which addresses the following: Relevant details about the real or made up company and what you mean by resiliency How are the company's global supply chains and exports likely to change? What are the possible consequences for expansion or contraction? What alternative courses of action are there for the company? What is your recommended course of action for resiliency using global location and trade?arrow_forwardWhy is contingency planning important at all levels of management?arrow_forward
- Assuming that you own a computer shop, you have a good plan in your mind that you want to implement that can benefits your business. How can your plan/strategy convert into action? Can you explain the step-by-step process?arrow_forwardwhy do companies need to have a strategic management plan? and what strategies do you think should the companies need to apply now that we are in the pandemic?arrow_forwardHow can managers effectively assess the internal and external environment when developing a comprehensive plan?arrow_forward
- What are the potential challenges or obstacles that organizations may face when implementing their plans?arrow_forwardYou have been employed as the new IT Manager for EY Consulting Incorporated. In your first month, you realized the IT department needs a revamp. Evaluate potential triggers for these changes and discuss the main types of change and their benefits. 2. As the Operations Manager of your company, evaluate three (3) corporate risks in the business environment with examples that will threaten the performance of the business. How will the impact of these risks be managed to reduce their impact?arrow_forwardWhat are the potential risks associated with inadequate or ineffective planning, and how can organizations mitigate those risks?arrow_forward
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