THE IMPORTANCE OF A PLAN B

Although scramblers must design and implement a Plan B if they intend to zigzag their way to the top, stabilizers can also benefit from a Plan B for the following reasons:

  1. As discussed in Chapter 22, mergers, takeovers, and highly volatile market conditions may render your position (or even your employer) obsolete. Without a Plan B you can, through no fault of your own, be unemployed.

  2. Having a Plan B will help keep you informed about what is going on in the marketplace and thus contribute to your professional growth where you are now employed. For example, in forming a Plan B, you may discover that you need to return to school to upgrade your competencies. The new skills will help your present firm.

  3. A Plan B can help ...

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