contingency plan for unforeseen changes in Facebook’s internal and external environments

Strategy Plan
Student’s Name
Institutional Affiliation
Course Name and Number
Professor’s Name
Assignment Due Date
Strategy Plan
Contingency plans are essential in business. A business could be running smoothly until something unexpected happens. An unexpected occurrence could come in any form, from a natural disaster to a medical emergency involving a valuable employee. If a company is relying on a new product to increase its sales and profitability, a contingency plan should be put in place if the product does not perform well. These and other reasons explain why a contingency plan is essential to any business. This paper presents a contingency plan for unforeseen changes in Facebook’s internal and external environments.
Facebook is a company that employs some of the most innovative minds in the technology industry. When a valuable employee in the company falls ill and has to be admitted to the hospital for an unknown time, the company has to find a replacement. As a contingency plan, Facebook should be keen to identify some of the best freelancers in the technology industry (Yamakawa & Cardon, 2017). This way, when a valuable employee in the company falls ill, they can have an idea of whom to pick as a temporary replacement. Having prior knowledge of freelancers within the technology industry will help Facebook narrow down to the most qualified individuals. This saves them time once a human resource risk occurs (Yamakawa & Cardon, 2017).
For a tech company like Facebook, the contingency plan should also cover any technological risks. Currently, Facebook is one of the companies setting up servers in the arctic. However, environmental experts have warned against the increased company activity in the arctic, saying that it destroys the world’s climate safety net. If an agreement were reached on an international forum that banned any company activity in the arctic, Facebook’s servers would be affected. To avoid any ...