Contingency planning (CP) typically involves which four subordinate functions?…Risk mitigation includes contingency planning and it’s four functional components which are:

Transference is the control approach that attempts to shift the risk to other assets, other processes, or other organizations.

A contingency plan is prepared by the organization to anticipate, react to, and recover from events that threaten the security of information and information assets in the organization, and, subsequently, to restore the organization to normal modes of business operations.

• the business impact analysis.
• the incident response plan.
• the disaster recovery plan.
• the business continuity plan.

The following are the five basic steps of contingency planning for epidemic, pandemic, or other emergency situations.

1. Program Management.
2. Planning.
3. Implementation.
4. Testing & Exercise.
5. Program Improvement.

They include:

1. Develop the contingency planning policy statement.
2. Conduct the business impact analysis (BIA).
3. Identify preventive controls.
4. Create contingency strategies.
5. Develop an information system contingency plan.
6. Ensure plan testing, training, and exercises.
7. Ensure plan maintenance.

An example of a contingency is the unexpected need for a bandage on a hike. The definition of a contingency is something that depends on something else in order to happen. An example of contingency is a military strategy that can’t go forward until an earlier piece of the war plan is complete.

The 5 Most Common Strategy Execution Challenges

1. Poor goal setting. Strategic goals are often large and complex objectives that almost always require many resources scattered across many departments and locations to accomplish them.
2. Lack of alignment.
3. Inability to track progress.
4. People not connected to the strategy.
5. No measurements or leading indicators.

implementation stage

Some areas that typically produce Strategic Issues are:

• Strategic Focus.
• Strategic Competencies.
• Culture modification/Organizational change.
• Resource limitations.
• Strategic alliances/acquisitions/mergers/joint ventures.
• E-commerce products.

Why is it important for company managers to develop a worry list of strategic issues and problems that they need to address and to resolve? A worry list is used to identify the specific issues/proboems that management needs to address, not to figure out what specific actions to take.

Over 75% fall into three key buckets: Understanding the process, getting alignment and setting and keeping strategic goals. As understanding the problem is the first step to productive problem solving, this post highlights them and offers tips to help. Watch: What IS strategic planning?

Vision is the starting point of strategic intent. The fundamental purpose of strategic planning is to align a company’s mission with its vision.

Goals are the end results, that the organization attempts to achieve. On the other hand, objectives are time-based measurable actions, which help in the accomplishment of goals. These are the end results which are to be attained with the help of an overall plan, over the particular period.

It aims to attain a fit between internal resources and capabilities and external opportunities and threats. This mindset can lead to overemphasis on existing resources and present opportunities. The strategic intent notion helps managers focus on creating new capabilities to exploit future opportunities.

Whereas the traditional view of strategy focuses on the degree of fit between existing resources and current opportunities, strategic intent creates an extreme misfit between resources and ambitions.