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A strategic contingency refers to an unforeseen event or circumstance that can impact an organization's strategy and operations. These contingencies can arise from various factors, such as market changes, economic shifts, or technological advancements. Organizations often develop contingency plans to effectively respond to these potential challenges, ensuring resilience and adaptability in their strategic approach. By anticipating and preparing for these contingencies, companies can mitigate risks and seize opportunities that may arise.

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6d ago

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