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The Ceo Can't Afford to Panic

In: Business and Management

Submitted By lariv67
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The CEO Can't Afford to Panic
As life goes by on a daily basis there are so many things that can happen and do come to fruition. In the article the CEO can’t afford to panic is one that highlights a company that is going through a disaster. It is safe to say that disasters can happen in the blink of an eye, and crisis is that turning point in which if you’re not prepared can be detrimental. It is only through careful planning, practice and implementation of a plan for an individual and an emergency response plan for an organization can one hope to be ready. In the article CEO Gerald Smarten is faced with a subway bombing disaster that was unforeseen. He must make a huge decision for his corporation Kaspa Financial Services on whether or not to allow the companies front lobby to be turned into a triage center and the cafeteria a possible morgue. He has never had to deal with the magnitude of this situation and it was reported in the article that he had just attended training the prior month to discuss emergency response plans within the city of Boston. Coming from his financial background he knew about “market disasters” but is he really professionally able to make such a decision that will affect the outcome of so many people and their lives?
Smarten and Kaspa financial did have an emergency financial response plan ready for implementation (McNulty, 2010, p. 2). The CEO knew the first order of business was to not panic and remain calm. He then had the calls and business for the financial institution transferred to their sister firms in other locations and regions to handle the day to day business. By implementing this plan it allowed for Kaspa to continue to try and maintain its commitment, obligations and responsibilities to the shareholders. Important documents and records would be transferred as well to help decrease any financial disasters and allow minimizing

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