Along with business planning, it is imperative that an entrepreneur think ahead about what would happen if things do not go well. In order to know how to deal with a worst-case situation or crisis, he or she should create a ____________ or plan B.

Question

Quizplus · Accepted Answer

A contingency plan is specifically designed for worst-case scenarios or crisis situations. It outlines a plan of action to be taken if certain events occur that could negatively impact the business. An operational plan focuses on day-to-day activities, a sustainability plan is centered around environmental and social responsibility, a feasibility study analyzes the potential success of a business idea, and a disaster relief plan is typically used for natural disasters and emergencies, making option E the best choice.

Along with Business Planning, It Is Imperative That an Entrepreneur