Contingencies

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Define

The term contingencies means a future event that cannot be foreseen or predicted for certain.

Companies should follow contingency plans to minimize impact on operations.


Assessing a Situation

How to deal with a crisis: Always be monitoring, engage as human beings, focus on essentials, be consistent, open up, acknowledge and empathize.

How NOT to deal with a crisis: Be fake, stay silent, dismiss "internet" chatter, treat as isolated case, ignore critics, or try to cover up.

Steps to handling a crisis

1. Plan 2. Own 3. Monitor 4. Initiate 5. Integrate


References

http://www.dictionary.com/browse/contingencies https://www.slideshare.net/investoralist/social-media-contingency

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