1. Frank’s BarBeQue just missed being impacted by a tornado that ripped through
ID: 362280 • Letter: 1
Question
1. Frank’s BarBeQue just missed being impacted by a tornado that ripped through southwestern Connecticut. Many small businesses were lost, never to reopen, while others sustained major physical and economic damage. Frank’s son, Robert, asked his father about whether he was prepared for something like that. Frank’s response was troubling. Although he kept some important documents in a safety deposit box at the bank, there was little planning or protection. Robert explained the importance of disaster planning, but Frank was overwhelmed by the prospect of the process. Robert contacted a local university and arranged with its school of business for a team of five students to prepare a disaster plan for Frank’s BarBeQue. He presented the project idea to his father and was relieved that his dad was willing to participate. It was clearly understood that no proprietary or confidential information would be shared with the students. Assume that you are the leader of the team. Describe the approach you will take and the recommendations that you will make. It is expected that you will go beyond the information provided in the text. Creativity is strongly encouraged.
2. As part of the disaster management plan, Robert has asked the student team to prepare a specific plan for obtaining disaster assistance under the assumption that both physical and economic damages will occur. Review the various options and the material from the textbook and then make specific recommendations. It is expected that you will go beyond the information presented in the text.
Explanation / Answer
1) The team leader could recommend frank about possible alternatives to be prepared for such disaster. Having floor insurance is a mitigation strategy to protect the business financially. It is important to have the right coverage’s and policy limits in place. Frank should be prepared with emergency light in the building to help customers and employees exit if the power fails. There should be a plan to prevent food spoilage which may include power gyrators to maintain power to freezers during a power outage. Computer files should be routinely backed up. Some examples of computer files or hard copy files that might be important to protect could be: Payroll records, Bank records, Financial statements, Copies of contracts, Leases, Legal correspondences, Insurance policies etc.always keep identified a safe place in case of tornado. Establish policies, procedures, and checklists to prevent disasters as much as possible.
2) In case of physical and economic injury, such type of small business owners may apply for low interest loans to repair or replace damaged real estate, equipment, inventory, and fixtures. As soon as you are aware of a disaster, notify your insurance company. Secure the site to prevent further damage and consider contacting a disaster recovery contractor
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