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Planning for the Unexpected: Human Resource Risk and Contingency Planning

Maria Marshall and, Corinne Alexander (October, 2005)

Summary

Small businesses are confronted by many different types of risk: production, marketing, financial, legal, and human. Managers generally spend most of their time dealing with production, marketing, financial, and legal risks and give little consideration to human resource risk and how the absence of key personnel can affect their business. This is a serious oversight because people are the key component in many risk management strategies.