Factors Shaping Organizational Contingency Plans: Insights into Risk Management and Preparedness

Abstract

Contingency planning is vital for organizations to sustain operations amidst unforeseen challenges, particularly in the volatile and uncertain business landscape of today. This study explores the factors influencing the contingency planning process, focusing on internal elements such as leadership and organizational culture, alongside external factors like technological advancements and market conditions. Using a quantitative methodology, data were collected from 139 participants in IT companies based in Erbil, Kurdistan. The findings reveal significant relationships between organizational culture, leadership, risk management strategies, and external factors in shaping effective contingency plans. Practical recommendations are provided to enhance preparedness and resilience in the IT sector. This research contributes to the growing body of knowledge on risk management and business continuity, offering actionable insights for organizations striving to navigate complexities in a dynamic environment.