What is a contingency approach? Well that all depends. No really, that's the whole premise behind the contingency approach to management. The older view in business used to be there was one right way to do things. The contingency approach basically says an organization need to be flexible and have plans in place to respond to changes and situations, including unanticipated changes. In this
. recession I would imagine there are many contingency plans being executed. A quick review of the contingency theory approach can be found here, http://www.istheory.yorku.ca/contingencytheory.htm.
