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NotesBusiness ManagementTopic 5.7Contingency planning
Back to Business Management Topics
5.7.21 min read

Contingency planning

IB Business Management • Unit 5

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Evaluating Contingency Planning

Advantages

  • Reduces impact of crises — faster, more organised response
  • Reassures stakeholders (investors, employees, customers)
  • May reduce insurance costs
  • Helps maintain operations during disruptions

Disadvantages

  • Costly and time-consuming to prepare
  • Cannot predict every possible crisis
  • Plans may become outdated if not regularly reviewed
  • May create false sense of security

Related Business Management Topics

Continue learning with these related topics from the same unit:

5.1.1What is operations management?
5.1.2Business sectors in operations
5.2.1Job, batch and flow production
5.2.2Cellular manufacturing
View all Business Management topics

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Command terms, paper structure, and mark-scheme tips for Business Management

IB Exam Questions on Contingency planning

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How Contingency planning Appears in IB Exams

Examiners use specific command terms when asking about this topic. Here's what to expect:

Define

Give the precise meaning of key terms related to Contingency planning.

AO1
Describe

Give a detailed account of processes or features in Contingency planning.

AO2
Explain

Give reasons WHY — cause and effect within Contingency planning.

AO3
Evaluate

Weigh strengths AND limitations of approaches in Contingency planning.

AO3
Discuss

Present arguments FOR and AGAINST with a balanced conclusion.

AO3

See the full IB Command Terms guide →

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5.7.1Crisis management
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