Because economic and competitive environments frequently change, organizations should
A) set a long-term plan and stick to it.
B) develop contingency plans.
C) save time and money by cutting back on planning.
D) eliminate any long-term strategic plans, but devise short-term tactical plans and update them once a year.

Question

Quizplus · Accepted Answer

Contingency planning identifies alternative courses of action for use if the primary plans do not achieve the objectives of the organization. This type of planning is necessary in today's environment where economic and competitive conditions change frequently.

Because Economic and Competitive Environments Frequently Change, Organizations Should