Many firms engage in planning to prepare the organization, its managers, and its employees to cope with sudden catastrophic events that could destroy the firm if a crisis-response plan were not in place.

Crisis Panning

Explanation:

The crisis planning involves the management of the company risk associated with catastrophic events which will completely destroy the firm and their will no essence of the company to start it again. So to insure businesses from such risks heading, the company plans about it to tackle such risks and this planning is known as crisis planning.

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