Reorganization After the worst has happened, the company's contingency plan also covers how the company will re-establish normal operations and reorganize to limit any future contingencies.
A contingency plan is a course of action designed to help an organization respond effectively to a significant future event or situation that may or may not happen. Cantor Fitzgeralda financial services company, is a prominent example of a successful implementation of a business contingency plan.
Cloud hosting is the process of outsourcing an organization's computing and storage resources to a service provider that offers Contingency plans are often devised by governments or businesses.
The plan should be a living document that is updated regularly to remain current with system enhancements and organizational changes.
Synonyms for contingency at philosophy-books.biz with free online thesaurus, antonyms, and definitions. Dictionary and Word of the Day.– Bruce, Anaheim, CA
Business continuity plans cover a range of situations, including the death of a key executive or manager, crisis events that threaten to shut down business operations for an extended period of time, and any other financial situation or unexpected event that threatens to destroy or injure the company. Continuity plans.– Kimberly, Corpus Christi, TX
Definition of contingency planning: Activity undertaken to ensure that proper and immediate follow-up steps will be taken by a management and employees in an emergency. Its major objectives are to ensure (1) containment of damage or.– Sandra, Lexington, KY
The company could be severely strained or even ruined by such a loss. Accordingly, many companies have procedures bhsiness follow in the event of such a disaster. The plan may also include standing policies to mitigate a disaster's potential impact, such as requiring employees to travel separately or limiting the number of employees on any one aircraft.
During times of crisis, contingency plans are often developed to explore and prepare for any eventuality. During the Cold Warmany governments made contingency plans to protect themselves and their citizens from nuclear attack.
Examples of contingency plans designed to inform citizens of how to survive another name for contingency planning in business nuclear attack are the booklets Survival Under Atomic AttackProtect and Surviveand Fallout Protectionwhich were issued by the British and American governments.
Today there are still contingency plans in place to deal another name for contingency planning in business terrorist attacks or other catastrophes. The National Institute of Standards and Technology has published a contingency planning guide for information technology systems A polymorphic virus is a harmful, destructive or intrusive type of malware that can change or 'morph,' making it difficult to An accountable care organization ACO is an association of hospitals, healthcare providers and insurers in which all parties Patient engagement is an ideal healthcare situation in which people are well-informed about -- and motivated to be involved -- in A personal health record PHR is a collection of health-related information that is documented and how can i shorten an essay by the individual Business continuity and disaster recovery BCDR are closely related practices that describe an organization's preparation for Another name for contingency planning in business business continuity plan BCP is a document that consists of the critical information an organization needs to continue A call tree -- sometimes referred to as a phone tree -- is a telecommunications chain for notifying specific individuals of an Cloud hosting is the process of outsourcing an organization's computing and storage resources to a service provider that offers A hybrid hard disk drive is an electromechanical spinning hard disk that contains some amount of NAND Flash memory.
This was last updated in September Related Terms change management Change management is a systematic approach to dealing with the transition or transformation of an another name for contingency planning in business goals, processes Add My Comment Register.
Login Forgot your password? The handling of these crises involves careful attention to legal considerations and liability to the shareholders and if not handled immediately with efficiency and confidence, they can ruin the company's professional image and ability to do business.
For this reason, companies create a system of checks and balances to prevent such problems in addition to creating detailed action plans to deal with these contingencies.
After the worst has happened, the company's contingency plan also covers how the company will re-establish normal operations and reorganize to limit any future contingencies. Reorganization to meet new challenges is important whether the company is dealing with negative events or the unexpected pressure of having to rapidly expand production to function in spite of the demands of a windfall order. Victoria Duff specializes in entrepreneurial subjects, drawing on her experience as an acclaimed start-up facilitator, venture catalyst and investor relations manager.
Since she has written many articles for e-zines and was a regular columnist for "Digital Coast Reporter" and "Developments Magazine.
Skip to main content. Crisis Management Many types of conyingency that can affect the well-being of a company include natural another name for contingency planning in business, terrorist attacks, fire in the warehouse, on the job injuries or even angry customers. Continuity Plan Business continuity plans cover a range of situations, including the death of a key executive or manager, crisis events that threaten to shut down business operations for an extended period of time, and any other financial situation or unexpected event that threatens to destroy or injure the company.
Asset Security Theft or destruction of intellectual property, such as trade secrets or computer programs, key machinery or equipment, or any other valuable assets a company needs for its operations and maintenance of its market position are generally covered by a security plan.
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