Contingency planning is especially important for organizations in industries that experience

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Contingency planning is crucial for organizations in industries that experience significant change because it prepares them to respond effectively to unexpected events or conditions, ensuring resilience and flexibility in the face of uncertainty. Stable conditions, low or high profitability, and little or no change do not inherently necessitate the same level of contingency planning as does an environment characterized by significant change.

Contingency Planning Is Especially Important for Organizations in Industries That