Question

Why contingency will not always be an appropriate plan for long-term business operations for Wow Sight and Sound? (answer in a short paragraph)

Answer 1

Wow sight and sound was an Australian company which was liquidated in the year 2012. The company had 15 stores across Australia with headquarters being gold coast, Queensland Australia. It sold a huge variety of electronic equipment such as car audios, tv, set top box, radios and accessories. In 2008, they got into video games consoles, music etc and even online store was started. But in 2012 company was liquidated with all stores being closed and only online sales were open. A completely new company was started after liquidation but that has also ceased operations in 2009.

Contingency plan was not always appropriate for long term operations for WOW sight and sound because the nature of contingency or emergency plan is to solve or avoid the immediate problem. Here the long-term effects aren’t taken into account, thus making its positive effects only for short term. Though there may be some positive long-term effects but that would be hardly taken into account thus making contingency plans more likely suitable for short term. A well-planned contingency plan with broader priorities, aiming broad range of scenarios makes it strong strategy of being proactive to any upcoming issues or problems and even seizing the unknown opportunities to increase business profits.