Which of the following statements is true of contingency planning? a. It is planned for a five-year time frame. b. It focuses on the issues that are most probable and most potentially harmful. c. It considers factors of internal business environment rather than external environment. d. It applies tactical plans to daily, weekly, and monthly operations.

Question

Business

Mollie Donaldson

19 June, 04:14

Which of the following statements is true of contingency planning? a. It is planned for a five-year time frame. b. It focuses on the issues that are most probable and most potentially harmful. c. It considers factors of internal business environment rather than external environment. d. It applies tactical plans to daily, weekly, and monthly operations.

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Judith · Answer 1

Answer: Option B

Explanation: In simple words, contingency planning refers to the planning which is done by an organisation to effectively respond to a problem that may arise in the future. This is done for those problems that affects the whole organisation.

Just like every other planning it also takes both internal and external environment into consideration. There is no fixed time frame for which the contingency planning is done.

Hence from the above we can conclude that the correct option is B.