Question

Management needs to be prepared to deal with problems and seize opportunities as they arise. A company often identifies alternative courses of action to be taken if events undercut a strategic or tactical plan. These are called _____ plans.

Answer 1

Answer:

contingency.

Explanation:

Management needs to be prepared to deal with problems and seize opportunities as they arise. A company often identifies alternative courses of action to be taken if events undercut a strategic or tactical plan. These are called contingency plans.

A contingency plan can be defined as a set of alternative plans that are designed and developed by an organization for continuous operation of the business in case of an emergency or when there is a failure in the primary (core) plan.