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.Which of the following types of planning is this?

Question

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Contingency planning involves identifying alternative courses of action to be taken if events undercut a strategic or tactical plan. It helps management be prepared to deal with problems and seize opportunities as they arise.

Management Needs to Be Prepared to Deal with Problems and Seize