Asked by Kevin Starrett on Jul 11, 2024

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Which of the following is a long-term version of contingency planning?

A) benchmarking
B) scenario planning
C) forecasting
D) staff planning
E) operationalizing

Scenario Planning

A strategic planning method that organizations use to envision and prepare for various future scenarios or outcomes.

Long-term Version

A strategic focus or approach that prioritizes long-term goals and outcomes over immediate gains or results.

Contingency Planning

The development of strategies and actions to deal with potential future events or situations that may disrupt normal operations.

  • Identify the criticality of employing forecasting and scenario planning in preparing for future organizational demands.
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Verified Answer

CG
Cindy GuzmanJul 15, 2024
Final Answer :
B
Explanation :
Scenario planning involves creating multiple plausible future scenarios and identifying potential risks and opportunities for each one. This is a long-term version of contingency planning as it looks at possible outcomes over a longer time horizon and helps organizations prepare for a range of potential futures. The other options listed are not necessarily long-term versions of contingency planning. Benchmarking involves comparing performance to industry standards or competitors, forecasting involves predicting future outcomes based on past trends and data, staff planning involves determining future staffing needs, and operationalizing involves putting plans into action.