Newspaper Article Assignment #3

Every business must prepare for the worst even if this sounds bad. They need to make sure they know what to do when aspects of the business change, when a crisis happens or even when they are closing their doors for good. Managers need to have a contingency plan when aspects of the business change (Collins & Shemko, 2010, p.76). A good example of this is the matter that is happening with the Phoenix Coyotes, an AHL team. They are in the works of possibly relocating to Winnipeg. However, if an NHL team plays in Winnipeg, an AHL team must re-locate. The AHL commissioner, Dave Andrews, says that they have had a contingency plan in place for the past year in regards to this. They are showing that they are prepared for the changes and have alternate solutions regarding the outcome. Crisis management is also practiced in many businesses (Collins & Shemko, 2010, p.76). In the event of a crisis, they must act in a timely manner with honesty and integrity. The Canadian Institute for Advanced Research, along with York University’s Hennick Centre for Business and Law, recently held a seminar in regards to crisis management. It showed that there is no one way to manage crises, but they all have similar lessons that matter.
1. Leadership and strategic communication matter
2. Delegation and networking matters
3. Reputation matters
4. The long term matters
5. Information matters

Another key plan that every business should have is an exit plan (Collins & Shemko, 2010, p.78). It may be hard to think about a business failing, but having an exit plan ensures that the transition is smooth when either the business closes its doors or when the owner decides to leave and sell the business.
Thane Stenner helped a gentleman named Bill with his exit plan for over three years. With Bill having such a long time to plan his exit, I am