9781601386441 by Unknown

Author:Unknown
Language: eng
Format: epub
Published: 2010-02-22T22:00:02+00:00

There was a time when this would have been called contingency planning. Contingency planning is defined as a business plan that confronts the likelihood of any disaster, no matter how rare, which prepares them to be able to continue without interruption or loss of control. It is never too soon to begin planning for the worst. This is as important as the initial plan for the best that landed you the OPM in the first place. Fol owing these short-term thoughts, the venturing group must then look at these possibilities from the vantage point of three to five years into the future.

What are the three top longer-term risk area concerns of the company today, and how would the company react if those concerns materialized?

Thinking long-term, within three to five years, the key parties of the business venture must ask themselves what the risk areas are for things that could come not only now, but in the future, and decide how they would need to deal with them. Patterson admits people wil tel you it is impossible to anticipate everything that could happen; this is coined by the common phrase “analysis by paralysis.” Patterson, however, rebuts such thinking and reminds us that if you prioritize what you consider the top issues and plan, then when a problem does occur, the group has developed information that wil help organize how the problem should be dealt with and who wil be responsible for what. The problem can then be handled more quickly than if it had come about without prior strategic planning.

What are the three most crucial infrastructure issues we face over the next one or two years?

The final question is more advanced thinking for the business, but it is worth the effort to answer. Such thinking should focus on things such as the experience levels of the employees that will be necessary to carry out the business plan, any potential information technology or software problems, and so forth. It is always simpler to plan for the future when you have developed an extensive model or spreadsheet that describes what the issues and deliverables are that drive the extensive plan that will need to be executed to make it happen.

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1/19/10 8:51:33 AM

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