BUS 402 Week 3 Discussion 1_ Triggers and Contingencies

Prior to beginning this discussion, review section 7.4 Contingency Planning in your
textbook. Strategic plans are focused on current and future company goals, therefore
changes in the environment must be detected and monitored. Changes in the
environment that impinge on the company’s strategic plan are known as external
triggers and triggers are paired with plans to successfully deal with them. These paired
actions are known as contingency plans. What qualities make a future issue a “trigger”?
As an example, consider you are on the strategic planning team for a soft drink
company. A merger of two major competitors next year would constitute a future trigger.
For this discussion, consider the Environmental Scan and SWOT analysis you
conducted in Week 2. Formulate a trigger/contingency pair in the form of a three-part
sentence similar to the example in the textbook. Examine it in terms of the three
guidelines that good contingency plans should follow.
Post a summary of your selected company and risks that you perceive based on your
prior Environmental Scan and SWOT analysis. State the three-sentence
trigger/contingency pair and justify your choice of contingency plan using information
from the week’s readings and/or other scholarly or credible resources, using
the Peer-Reviewed,
(NOTE: Incorporate the feedback you receive from your instructor and save your work.
It will be part of your Strategic Plan Final Project for this course).