Contingency Planning
How do sources of temporary funding help in contingency planning? Explain how other forms of assistance, funding and assets are acquired.
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In a time where business positions change overnight and economic status change so rapidly, it is important that businesses formulate a plan concerned with making proactive measures that handle certain unforeseen threats and risks (Green, 2012). For instance a plan that deals with a drastic downfall in economy, the death of the major shareholder or a plan that deals with insolvency threat. The main concepts in contingency planning involve risk assessment and mitigation. This will entail evaluating
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