2016-11-21 00:00:00 Business Planning English Learn about Murphy's law, and get some ideas on using Murphy's law in making contingency plans for your business. https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/03/Small-business-farmer-and-gardener-removing-weeds-in-flower-bed.jpg https://quickbooks.intuit.com/ca/resources/business-planning/murphys-law/ Murphy’s Law

Murphy’s Law

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Murphy’s law is an old adage that goes, “If something can go wrong, it will.” It is also commonly expressed as “Anything that can go wrong, will go wrong.” The namesake of the law is Edward Murphy Jr., a U.S. aerospace engineer. This idea can be applied in business and is used as a planning tool.

For example, a salesman can prepare in case he loses his biggest client. A manager can plan for what she’ll do if her best and brightest employee decides to quit unexpectedly. A software developer can plan ahead for a situation which a server goes down and renders the product useless.

Contingency planning with Murphy’s law in mind is a useful exercise.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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