NURS 3100 Week 1 Assignment – Journal – Technology Contingency Plan

NURS 3100 Week 1 Assignment – Journal – Technology Contingency Plan

Introduction

Contingency planning is critical in ensuring that all operations continue following a big disaster. Even if a firm is well established, it is evident that it cannot avoid obstacles and unforeseeable disasters. The primary objective of a contingency plan is to guarantee that organizational activities are not disrupted in the event of an unforeseen incident or a significant difficulty (Martínez, 2011). The contingency plan contains recovery procedures and other business processes that will be employed in an emergency. The globe has become a global village, with intricate chain links fueled by dynamic ideas and continual innovation. As a result, most business processes evolve, and sustainability challenges frequently develop. This is why all businesses must have contingency plans to protect themselves against potential disasters. I will discuss the benefits of developing a contingency plan, the issues to address, and the many types of contingency plans in this study article (Madanipour, 2010).

The advantages of scenario events and planning

Contingency plans assist firms in the case of a calamity. In certain instances, companies refer to contingency plans as plan Bs. Businesses gain significantly from contingency preparations, particularly when a disaster strikes. Among these benefits are the reduction of losses, the mitigation of unfavorable public relations, the continuation of operations, and the enhancement of insurance and credit availability. A contingency plan assists a firm in minimizing losses by providing a step-by-step strategy for resolving production issues. Production difficulties influence not just the day-to-day operations of a business but also its consumers. As a result, consumers may go to a competitor, hurting the firm’s operations. In some circumstances, a firm may face a significant obstacle to the point where sales drop, and it becomes unable to pay its employees. In these circumstances, the contingency plan assists firms by ensuring that their staff is reduced and overhead expenditures are reduced. This ensures the business’s viability.

The other benefit of having a backup plan is that it helps minimize poor public relations. When a business confronts a significant obstacle during its life, the media, rivals, and consumers quickly disseminate the word. As a result, the business’s image may suffer, and its consumers may lose trust in the firm. Additionally, stockholders begin to resign since the company’s future is uncertain (Bowman, 2015). A contingency plan is exceptionally beneficial in re-establishing the firm’s initial position and developing the actual reaction to the situation. For instance, if a senior employee leaves the firm, the organization must have a succession plan. This demonstrates to workers and other stakeholders that the employees going does not affect the business’s operations. Additionally, it helps to minimize the time spent searching for a suitable applicant for the post (Martínez, 2011).

Another benefit of having a backup plan is that it ensures business continuity. When a corporation encounters a significant difficulty, the problem impacts most of its operations, impairing its regular function. A contingency plan’s objective is to ensure that all business operations continue regardless of the prevailing circumstances. Financial bailouts or reserves can help impacted businesses weather periods of poor cash flow. Additionally, relocating operations or outsourcing activities might assist in operating critical procedures. Finally, business continuity may be accomplished by recovering data from previously backed-up sources (Madanipour, 2010). As a result, necessary data or files are not lost throughout the procedure. Finally, a company contingency plan assists businesses in advancing their insurance and credit availability. Banks and other financial institutions help businesses that have already implemented their contingency plans in the event of an unanticipated occurrence. This minimizes the danger of misappropriating organizational resources and assures banks and insurance companies that their money will be returned. Additionally, company contingency plans assist businesses in obtaining cheaper loan rates and favorable payback conditions.

NURS 3100 Week 1 Assignment – Journal – Technology Contingency Plan

Consider the following while doing scenario planning:

When developing a scenario plan, it is necessary to consider the following points:

What is required?

This question is beneficial in outlining the necessary duties and procedures to be performed during an emergency. Additionally, it explains the circumstances under which connected workers must be told of the issue. In general, the inquiry attempts to determine which data is critical to whom and when recovery efforts will begin both within and outside the company (Madanipour, 2010).

Who is capable of doing so?

This question assists planners in determining who is competent in running the fire in the event of an emergency and which functions should be outsourced. Outsourcing responsibilities is critical since current workers may be unavailable in the event of a disaster (Madanipour, 2010). In general, this question attempts to describe essential functions, potential workers, and individuals who are considered capable of mitigating a firm’s vulnerability in crucial situations (Martínez, 2011).

How do you accomplish this?

This question enables engineers to comprehend and explain all of a position’s essential duties and give checklists to responsible personnel. Checklists might take the form of manuals, diagrams, or other complex structures.

When should it be done?

This assists in allocating suitable time for each action and provides the necessary guidance for completing the assignment. This is critical since organizations do not have easy jobs, and contingency plans must consider general workflow principles (Bowman, 2015).

NURS 3100 Week 1 Assignment – Journal – Technology Contingency Plan

Where should it be done?

This question assists planners in developing stand-by workstations in the event of an emergency. Additionally, the plan might separate the teams and assign each squad to a particular area. Additionally, the strategy should be changed regularly to reflect the business’s demands (Vishnevskiy et al., 2015).

The most often used scenario planning techniques.

Contingency planning may include the following:

Contingency plan for staffing. This is a structure that assures that the business does not have any vacancy gaps. Employees are critical to businesses, and if they leave, the business may suffer service shortages.

Contingency plan for the supply

This strategy ensures a continuous supply of raw materials even if the suppliers default on their obligations. As a result, the company operates without interruptions in production or

Contingency plan for information technology. This is a framework for securing data within the organization. When data breaches occur, the business suffers substantial losses, and its reputation may suffer (Vishnevskiy et al., 2015)

Conclusion

In conclusion, every business should have a contingency plan in place in the event of an emergency. Even if a firm is well established, it is evident that it cannot avoid obstacles and unforeseeable disasters. The primary objective of a contingency plan is to guarantee that organizational activities are not disrupted in the event of an unforeseen incident or a significant difficulty. The contingency plan contains recovery procedures and other business processes that will be employed in an emergency (Martínez, 2011). Businesses gain significantly from contingency preparations, particularly when a disaster strikes. Among these benefits are the reduction of losses, the mitigation of unfavorable public relations, the continuation of operations, and the enhancement of insurance and credit availability. Additionally, while developing a contingency plan, it is prudent to consider stand-by sites, potential personnel, the appropriate time to do specific activities, and the applicable standards.

References

Martínez, M. (2011). Contingency planning for natural disasters. ISBT Science Series, 6(1), 212- 215. https://doi.org/10.1111/j.1751-2824.2011.01485.x

Madanipour, A. (2010). Connectivity and contingency in planning. Planning Theory, 9(4), 351- 368. https://doi.org/10.1177/1473095210371162

Vishnevskiy, K., Grebenyuk, A., Kindras, A., & Meissner, D. (2015). Integration of road mapping and scenario planning for implementing science, technology, and strategic innovation priorities – the case of Russia. International Journal Of Foresight And Innovation Policy, 10(2/3/4), 126. https://doi.org/10.1504/ijfip.2015.074391

Bowman, G. (2015). The Practice of Scenario Planning: An Analysis of Inter- and Intra- organizational Strategizing. British Journal Of Management, 27(1), 77-96. https://doi.org/10.1111/1467-8551.12098

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