2) What is your broad Contingency Plan strategy if one or more of these components fails? I.E., How would you adjust to a key component not working out? Provide two References

From our text: "The development of action plans should be thought of as an essential part of strategic management. This chapter discusses important implementation activities - such as making surethe budgeting system allocates resources according to strategic priorities and that theperformance evaluation system rewards people for contributing to the strategy as well as thetactics of health care organizations."

Reading Supplement: The following article, "Companies Are Strategic When They Understand the Process", by LBL Strategies Team (a consulting company), was published August 16, 2018. The source URL is https://www.lblstrategies.com/2018/08/16/companies-are-strategic-when-they-understand-the-process/ Links to an external site.LinkLinks to an external site.

"For any strategic planning effort to be successful, all parties must understand that execution of the strategy must actually occur. To increase the probability of achieving success, strategy practitioners must help their client define what organizational and leadership success looks like from the outset. Key elements to be included are employees' alignment behind a shared vision and key stakeholders' investment in the strategy. Operationally, work is prioritized, process improvements are taking place, job descriptions are linked to the strategy, capabilities are defined and understood, and two-way communications are valued and practiced. Finally, a well-designed measurement system is in place and being used."