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Contingency planning or ineffective crisis management

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When covid started a lot of businesses closed down due to the pandemic. Is the closure of the long-term businesses in Toronto due to bad contingency planning or ineffective crisis management?

Discuss and justify your response.

Meaning of CONTINGENCY --A contingency is a potentially negative event that may occur in the future, such as an economic recession, natural disaster, or fraudulent activity. Companies and investors plan for various contingencies through analysis and implementing protective measures.

Reference no: EM132866226

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