The process of preparing alternative courses of action to address potential future events or circumstances that could disrupt normal business operations. It involves creating backup plans and response strategies for various 'what if' scenarios.
From Latin 'contingentia' meaning 'a touching together' or 'chance occurrence,' combined with 'planning' from Latin 'planus' (flat, clear). The business usage emerged in the 1950s-60s during the Cold War era when organizations began systematically preparing for various disruption scenarios.
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