Published by:
Harvard Business Publishing
Length: 12 pages
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https://casecent.re/p/48636
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Abstract
Companies should develop contingency plans aimed at preserving and managing the flow of funds to handle the problem of the unforeseen event. Companies should first maximize the amount of available reaction time by conducting a contingency analysis of possible events that would affect the company''s performance. A computerized model of the company''s finances can simulate contingency events and explore a range of alternative actions. The company should then make an inventory of resources it could draw upon to cover unexpected deficits.
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Abstract
Companies should develop contingency plans aimed at preserving and managing the flow of funds to handle the problem of the unforeseen event. Companies should first maximize the amount of available reaction time by conducting a contingency analysis of possible events that would affect the company''s performance. A computerized model of the company''s finances can simulate contingency events and explore a range of alternative actions. The company should then make an inventory of resources it could draw upon to cover unexpected deficits.