Efficient strategies

"Strategic Contingency Plan will help you manage circumstances and face the situation with confidence," urged Hari Allangala at the meeting of the Sharjah Indian Ladies association (SILA) on Saturday at the Lou'Lou'A Beach Resort in Sharjah.

After being introduced by Nina Mulaokar, secretary of SILA, Allangala, a unit manager for Continental Insurance Brokers who specialise in creating Strategic Contingency Plan (SCP) for small business owners or business partners, addressed SILA members about the need for women to follow this simple plan of action to be better prepared in an emergency. He explained how even minor emergencies could turn into major disasters due to lack of information and planning, citing real life examples when wives were unable to deal with crisis in the absence of their husbands.

Strategic Contingency Plan is a knowledge management of a family's financial and personal matters. In order to create this plan, Allangala prepared a checklist, out of which one can select areas relevant to each family's needs. It lists bank account details, emergency phone numbers, including police, ambulance, employers/sponsor's contact details, and renewal dates of bank deposits and insurance premiums, details of property and investments, and insurance details including beneficiary's names.

He urged the women to make a note of these details and modify them to suit their individual needs. He also distributed copies of the format he had prepared for this purpose. Even a small matter like location of your home, if not clearly expressed, can cause delays that could mean a difference between life and death, Allangala said.

Gabrielle Dube, a senior SILA member, felt that the talk would act as a catalyst to help women become aware of the need of SCP. Even those involved with routine banking chores felt that the systematic method of keeping important records in one place will prove helpful. For more information about SCP, Allangala can be contacted at 050-6539054.