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Business Questions Answers

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Business Questions Answers

Category: Essay

Subcategory: Business

Level: College

Pages: 2

Words: 550

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Business Questions-Answers
QUESTION 2
Contingency planning is a managerial activity which involves identifying potential risks followed by developing a plan for threat response. A comprehensive plan helps in restoring business operations. It is a strategy which focuses on more or preparation than response. On the other hand, crisis management is a reactive strategy which responds to a threat. It is more inclined towards response than preparation. An assumption presented by Eriksson and McConnell (91) indicates that a successful contingency plan is more likely to produce a successful crisis management. Companies need to incorporate both contingency and crisis management. The effectiveness of a contingency plan and crisis management plan depends on the type of events and circumstances. Incorporating both strategies empowers the company with strong elements of foresight and certainty using a contingency plan. Events which create a high level of uncertainty can be dealt using a crisis management plan.
QUESTION 3
Chain of command or organizational structure is a way in which a company organizes senior management, departments, and employees. SUSF Fitness Group features the functional organizational structure. The organization is headed by an executive director followed by an executive assistant. Directly below are Elite athlete program manager, high-performance manager, marketing and communications manager, finance and a…

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