What are the three contingency factors that affect the choice of plans?

What are the three contingency factors that affect the choice of plans?

ABSTRACT – The choice strategy a decision-maker uses is contingent on many factors. This paper explores the effect of three contingency factors: product class involvement, similarity among alternatives and information structure.

What are the key elements of contingency planning?

The key elements of a contingency plan are “protection, detection, and recoverability.”

What are contingent factors?

A contingency factor is anything that cannot be accurately predicted or forecast in the future. A contingency is the unexpected, or things that are out of your control. Natural disasters, economic crisis and other major events all fall into this category.

What are the factors affecting planning?

Factors which may affect a planning application

• Local planning policies. Every decision will be based on the local planning policies.
• Nature, wildlife and biodiversity.
• Bats.
• Building regulations.
• Design.
• Design and access statement.
• Sustainability.
• Environmental Health.

What are the four components of contingency planning?

The Inter-Agency Contingency Planning Guidelines for Humanitarian Assistance endorsed by the IASC outlines four key steps in the contingency planning process: preparation, analysis, response planning, and implementing preparedness.

What is contingency factors in organization?

Organizational contingencies are factors that moderate the effect of organizational characteristics on organizational performance. Whether a particular level of organizational characteristic would lead to high performance depends on the level of the contingency factor.

What are external factors influencing the planning?

EXTERNAL FACTORS THAT AFFECT PLANNING

• External Surprises.
• Competitors.
• Legal/Ethical Factors.
• Economic/Political Issues.
• Technology.
• Social Trends.
• Forecasts of the Future.

What are the three types of planning?

There are three major types of planning, which include operational, tactical and strategic planning.

What is important of contingency planning?

“The purpose of any contingency plan is to allow an organization to return to its daily operations as quickly as possible after an unforeseen event. The contingency plan protects resources, minimizes customer inconvenience and identifies key staff, assigning specific responsibilities in the context of the recovery.”

What are the components of contingency planning and what are the major steps used for contingency planning?

NIST’s 7-Step Contingency Planning Process

• Develop the contingency planning policy statement.
• Conduct the business impact analysis (BIA).
• Identify preventive controls.
• Create contingency strategies.
• Develop an information system contingency plan.
• Ensure plan testing, training, and exercises.
• Ensure plan maintenance.

What are the factors that influence Wal-Mart management planning?

There are many factors that influence Wal-Mart’s strategic, tactical, operational and contingency planning. Although Wal-Mart has been a very successful corporation throughout its existence, it has had to absorb the impact of legal issues, ethics, and corporate responsibility in its management planning.

What are the strategic decisions that Walmart makes?

To fulfill these strategies, the firm focuses on maximum efficiency of its retail service operations. To address the design of goods in this decision area of operations management, Walmart emphasizes minimal production costs, especially for the Great Value brand. The firm’s consumer goods are designed in a way that they are easy to mass-produce.

What are the issues that Wal Mart is involved in?

Wal-Mart has become a “poster company” on political issues related to trade, health care, the environment, discrimination, worker pay and general anti-corporate sentiment. Wal-Mart breaking the antitrust laws.

What do you need to know about Walmart operations management?

The company’s operations management addresses the design of retail service by emphasizing the variables of efficiency and cost-effectiveness. Walmart’s generic strategy for competitive advantage, and intensive growth strategies emphasize low costs and low selling prices.