Purpose of Contengency Planning and Crisis Management

Contingency Planning and Crisis Management
Name
Institution
Due Date
Contingency Planning and Crisis Management
Describe each concept and explain how they are different. Share an example of each.
Contingency planning mainly involves planning for the uncertainties or unexpected challenges of the business environment. The purpose of contingency planning is to ensure that the business is not caught off-guard in case something unexpected happens in the future. Businesses put themselves in positions to respond effectively to uncertainties through a contingency plan. On the other hand, crisis management entails the procedures used by organizations to deal with certain disruptive events that are detrimental to the health of the organization. With crisis management, businesses and organizations mainly seek to respond to disruptive events and identify threats that could potentially impact the he...