What is a contingency plan designed for?

A contingency plan is specifically designed to address emergency situations or unforeseen events that could disrupt normal business operations. This type of plan outlines procedures to follow and actions to take in response to various possible crises, such as natural disasters, economic downturns, or other unexpected challenges. By preparing for these emergencies, businesses can minimize the impact on their operations and ensure a quicker recovery.

In contrast, regular business operations typically refer to the day-to-day activities necessary to keep a business running smoothly, while long-term growth strategies focus on plans for expansion and future success. Market research analysis involves gathering and interpreting data about the market and competitors, which is not related to crisis management. Thus, while all the other options involve important aspects of business planning, they do not specifically address the purpose of a contingency plan.