Contingency planning, Financial Management

Contingency Planning:

 Once the events are evaluated and categorised, and the levels of risk attaching to them have established. 

The organisation should then commence planning to reduce or eliminate them. Obviously, those events categorised within the high / extreme category would take precedence over those categorised within other areas.

Examples of contingency planning could be:

  • The introduction of policies to avoid the event happening
  • Seeking insurance to assist should an event occur
  • Seeking additional funding
  • Rental/hire of equipment / stock
  • Restructuring labour costs
  • Reducing or recycling wastage
  • Where the risk is so extreme, withdraw from the business totally
Posted Date: 10/1/2012 4:10:46 AM | Location : United States







Related Discussions:- Contingency planning, Assignment Help, Ask Question on Contingency planning, Get Answer, Expert's Help, Contingency planning Discussions

Write discussion on Contingency planning
Your posts are moderated
Related Questions
Explain the conditions under which the forward exchange rate will be an unbiased predictor of the future spot exchange rate. Answer:  the conditions when forward exchange rate

Brown has been in business for some years and has kept her drawings slightly below the level of profits each year. You are her accountant, and she has passed you the following list

How do mergers affect communities? A: While a locally controlled bank is merged into a bank headquartered somewhere else (an out-of-market merger), a few apprehension about the i

annual uasage of stock 100,000units carrying cost per unit of stock RM2 order cost RM250 question there is a constraint arising from the floor space of the

Explain about the Interest payments Debenture interest is generally paid semi-annually however annual payments aren't uncommon.  Usually there are registered debentures on whic

Residual Income This is used for external reporting purposes. This term refers to the net income which is available for distribution to the firm's common stock holders. In mana

What are the misconceptions about Financial Management?

What effects have mergers had on fees assessed for retail bank services? A: The effect is not clear. Market conditions and the level of competition frequently determine the cost

the stock of akpan ltd performs well during recessionary periods, and the stock of okon ltd does well during growth periods. both stocks are currently selling for Rs 100 per share

1024x768 Normal 0 false false false EN-IN X-NONE X-NONE