Why should businesses pay particular attention to these three issues and What wo
ID: 334639 • Letter: W
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Why should businesses pay particular attention to these three issues and What would you do to address these issues? (1). The vulnerability of the business if a disaster or other emergency were to occur. (2). If the business was to shutdown for more than a few days the impact it will have on day to day operations. (3). The plan to protect the business and is employees before, during and after an emergency. Why should businesses pay particular attention to these three issues and What would you do to address these issues? (1). The vulnerability of the business if a disaster or other emergency were to occur. (2). If the business was to shutdown for more than a few days the impact it will have on day to day operations. (3). The plan to protect the business and is employees before, during and after an emergency.Explanation / Answer
The broader societal concern about sustainability has grown from almost nothing in the early 1990s to a dominant theme today. Meanwhile, leaders of major corporations worldwide are increasingly facing the challenge of managing organisations that meet the expectations of a broad range of stakeholders (often themselves in conflict), while still delivering a return to shareholders. As a result, sustainability is now an essential ingredient for a company's long-term success and we have been able to provide solid evidence for this in a rigorous empirical study.
We compared a matched sample of 180 US-based companies, 90 of which we classify as high-sustainability and another 90 as low-sustainability. Our classification was based on the adoption of environmental, social, and governance (ESG) policies in the 1990s that reinforced a cultural commitment to sustainability. Examples of environmental policies included carbon emissions reduction policies, green supply-chain policies and energy and water-efficiency strategies. Social policies included diversity and equal-opportunity targets, work-life balance, health and safety improvement, and favouring internal promotion. Policies related to community included corporate citizenship commitments, business ethics, and human-rights criteria. Finally, other policies we accounted for related to customers, product risk and customer health and safety.
The high-sustainability companies had adopted an average of 40% of these policies early on, while their counterparts had adopted only 10%. We selected these two sets of companies to be identical in terms of financial performance in the early 1990s, in order to examine the long-term performance effects of a culture of sustainability.
Developing an emergency preparedness plan is one of the most important strategic decisions you will make as a small business owner. Consider how a natural, human-caused or public health disaster could affect your employees, customers and workplace. Would business operations continue? Preparing your small business doesn’t have to be time consuming or expensive. In fact, experts say one dollar invested in disaster preparedness may save seven dollars in recovery and Red Cross’ Ready Rating program makes it easy to evaluate your strengths and weaknesses. FedEx and Red Cross care about small businesses. That’s why we’re providing this checklist. Ask yourself these three questions to help prepare your business to stay in business. Then visit ReadyRating.org/small business for advice on next steps.
1. How vulnerable would the business be if a disaster or other emergency were to occur?
? Know your region and the types of disaster most likely to have an impact on your business.
o Find out what emergencies have occurred in the past and what impact these had on other businesses in your area.
o Consider your facility’s physical capacity to resist damage and proximity to flood plains, seismic faults, dams, hazardous materials, nuclear power plants and other hazards.
o Consult with your insurance agent and learn what coverage is available and what precautions to take for disasters that may impact your business. Remember, many general policies do not cover earthquake and flood damage
. ? Assess the capacity of your employees to prepare for and respond to an emergency. o Are 10-15% of your employees trained in basic first-aid and CPR techniques? Do all employees know how to identify individuals who are trained?
o Are employee roles clearly defined in the event of a disaster or emergency?
? Identify internal and external emergency response resources that will provide assistance during a disaster or other emergency. Who will you contact in an emergency and what will they be able to provide? O
Local and state police o Fire department and emergency medical services organizations o Local government officials, emergency management office o Local American Red Cross chapter o National Weather Service o Telephone, water, gas and electric companies o Neighboring businesses o Insurance carriers
2. If your business was to be shutdown for more than a few days, what impacts will it have on your day-to-day operations?
? Identify policies for employees
o Chain of command
o Contact numbers for employees
o Leave polices
o Sick day polices
o Payroll procedures
o Sufficient communication infrastructure
Identify plan for vendors (or suppliers)
o Contact numbers for vendors
o Contact vendors concerning their business continuity plan.
o Consider developing a plan if product distribution is interrupted.
? Identify plan for customers (or clients)
o Contact numbers for customers
o Contact customers concerning their business continuity plan.
o Consider developing a plan if product distribution is interrupted.
3. What is your plan to protect the business and its employees before, during and after an emergency?
? Identify a First Aid team. Approximately 10-15 percent of your workforce should be trained in first aid and CPR so that they can assist in times of disaster or emergency until help arrives.
? Obtain necessary safety equipment. Budget for and purchase any safety equipment, first-aid kits, Automatic External Defibrillators (AEDs) fire extinguishers, smoke detectors and shelter-inplace supplies that may be needed. Make sure all employees know how to access these supplies.
? Write a plan for responding to emergencies. Your plan should include:
o A system for warning employees about emergencies and communicating with employees and local emergency management officials during a disaster or emergency (i.e. cell phones, computers).
o Considerations for the special needs of employees with disabilities and medical conditions o Evacuation routes from your facility and an established location where employees should gather. o Provisions and a location for employees to shelter-in-place.
? Develop a Business Continuity Plan. This plan will help keep your business operating as it responds and recovers from the effects of a disaster or emergency situation. Here’s how to start developing a Business Continuity Plan:
o Designate employees to develop the plan
o Decide whether different procedures are needed for different departments within the workplace.
o Establish procedures for Business Continuity Plan activation
o Identify essential business functions and staff to carry out these functions
o Identify which employees will be considered non-essential vs. essential personnel
o Consider whether cross-training of employees is necessary
o Establish work schedule for employees during a flu pandemic
o Establish procedures with suppliers, vendors and other businesses critical to daily operations
o Create a plan for conducting business if the facility is not accessible and set up electronic back up systems for vital business files o Identify records and documents that must be readily accessible to perform essential functions and decide where these can be stored safely and retrieved quickly o Stockpile items soap, tissues, alcohol-based hand sanitizers, cleaning supplies and recommend personal protective equipment (PPE) for employees.
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