Reference no: EM133216190

Question: 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"?

For this discussion, consider the Environmental Scan and SWOT analysis you conducted for Netflix. Formulate a trigger/contingency pair in the form of a three-part sentence similar to the example in the textbook (Please see below the example).

Three part sentence example:

"It is effective to express a trigger/contingency pair in the form of a three-part sentence. For example:

The external cause of the trigger: "If competitors lowered their prices, . . ."
The quantitative trigger: "causing revenues to lag projections by 15%, . . ."
The contingency: "then the company should increase advertising and promotions."
Stringing those three parts together-"If competitors lowered their prices, causing revenues to lag projections by 15%, then the company should increase advertising and promotions"-you will find that this simple sentence meets all criteria for creating a good trigger and contingency."

Examine it in terms of the three guidelines that good contingency plans should follow. Examine the external cause of the trigger, the quantitative trigger, and the contingency in DETAIL.

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,