Case study - Maya Lim - Advantages and disadvantages table in A Level and IB Business

Created by: Bethany
Created on: 24-02-13 11:38


	Case study - Maya Lim
	Advantages She could have had her records backed up in case something like this happened She might have had contingency funds for problems such as the explosion	Disadvantages She was already in trouble with money problems The contingency planning might not have covered problems such as an explosion Having a contingency plan could be costly The plan might not help the business survive as it might not be accurate to the business when the explosion happened
	Evaluation In the case of Maya Lim a contingency plan is unlikely to have saved the business due to the financial problems already in it. Although a contingency plan might have planned for a crisis and help deal with it more effectively it might not have been an explosion so therefore wouldn't have been relevant to what actually happened. On top of this contingency planning is often used in larger companies as they can afford to create and put a contingency plan into place whereas Maya Lim's company was small and this is likely to have been a cost she couldn't afford to incur.

Case study - Maya Lim

Advantages

She could have had her records backed up in case something like this happened
She might have had contingency funds for problems such as the explosion

Disadvantages

She was already in trouble with money problems
The contingency planning might not have covered problems such as an explosion
Having a contingency plan could be costly
The plan might not help the business survive as it might not be accurate to the business when the explosion happened

Evaluation

In the case of Maya Lim a contingency plan is unlikely to have saved the business due to the financial problems already in it. Although a contingency plan might have planned for a crisis and help deal with it more effectively it might not have been an explosion so therefore wouldn't have been relevant to what actually happened. On top of this contingency planning is often used in larger companies as they can afford to create and put a contingency plan into place whereas Maya Lim's company was small and this is likely to have been a cost she couldn't afford to incur.

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Case study - Maya Lim