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.

Question

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Contingency plans are designed to be implemented in the event that a primary plan cannot be executed as intended. They serve as a backup to address unforeseen problems or opportunities, ensuring that the organization can continue to operate effectively under various circumstances.

Management Needs to Be Prepared to Deal with Problems and Seize