Asked by Sandra Belgarde on Jul 15, 2024
Verified
Julianna is the owner of Splendid Cupcakes and looking for a location to expand into a café. She narrowed her search to three locations; however, if she can't find and acquire the right location, she will remain at her current location for at least the next two years. Which technique of managerial planning is Julianna demonstrating?
A) flexibility
B) contingency planning
C) forecasting
D) scenario Planning
E) long-range planning
Contingency Planning
The process of preparing for potential future situations or crises by developing plans to manage and mitigate risks.
Managerial Planning
The process by which managers establish goals and outline the most efficient path to achieve those goals, involving setting objectives, developing strategies, and outlining tasks and schedules.
- Understand the effects of employing planning strategies like contingency and scenario planning on an organization's ability to be flexible and prepared.
Verified Answer
AA
Anthony AmayaJul 22, 2024
Final Answer :
B
Explanation :
Julianna is demonstrating contingency planning by having a backup plan should she be unable to find and acquire the right location.
Learning Objectives
- Understand the effects of employing planning strategies like contingency and scenario planning on an organization's ability to be flexible and prepared.
Related questions
Scenario Planning Facilitates Control by Defining the Objectives And ...
Royal Dutch/Shell Uses Scenario Planning to Explore What the Company ...
Javier and His Team of Engineers Have Gone Through the ...
Managerial Thinking Works Best in Times of Certainty
___ Involves Identifying Several Possible Future Situations or States of ...