Question

How can manager’s best prepare themselves for the possibility of terror attacks and their resultant blows to confidence in the economy?

note :I want answer in details

Answer 1

there are various precaution and measure to prevent the business from these kind of threats-

1. PREVENTION IS BETTER THAN CURE-business should be set up in the area or the basis of previous stability record,if the business environment is stable and in favor of business concern then the business would develop and there would be too many business firms already operating there, but if the business environment is critical and unstable and there is always a threat of war,attack etc then establishment of business should be avoided there.
2. GETTING INSURANCE FOR THE PREMISES AS WELL AS FOR THE PERSONNEL-firms,equipment and the human capital must be properly insured,it would encourage the workers to work more efficiently and in case of any mishap the family can be prevented from financial crisis.
3. GETTING GOVERNMENT HELP THROUGH DEFENSE -in the prone area government help should be properly sought concerned with the deploying the army,air force and navy for the smooth and burden less business operations.
4. PROPER SECURITY-proper security,check up system should be undertaken in the business concern at the entry point of the firm.
5. PROPER PROVISIONING FOR CONTINGENCIES-a fixed and reasonable amount should be transferred to the contingency fund in the business firm.if there is any adverse situation arises due to terror threat, even though the firm and its employees can sustain their basic needs for some time on this contingency fund.