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 ...view middle of the document...
He had the HR personal to start taking a headcount of the employees and who might be missing so the information could be passed on to the emergency workers. In addition, he had people become available and volunteered a redistribution of man power to be available to help the city workers which was previously announced might happen at the training. In addition, he made whatever food provisions they had on hand available to the city and the victims of this tragedy.
The bigger question now is to whether or not Kaspa opens up its doors to the city and the victims. Smarten with his team has to once again step back and assess the situation at hand and decide on what the “right thing” to do is. On one hand as a financial institution, Smarten has a commitment that not only for himself but his organization that they must keep to the investors and customers. The long term effects on the company could be detrimental no matter which way they go. On one hand if an institution loses money from missing a trade or not staying on top of potential financial problem as a result of this disaster could look bad for the company. Some might say that putting “outsiders” ahead of the customer is wrong and the organization is not keeping its commitment to customer satisfaction, excellence and long term interests. What would make people want to continue to do business with the financial institution if that was the case (McNulty, 2010, p. 3)? However, if the company chooses to help the victims it is showing its humanitarian side to the community and the employees. It sends the message that people and their immediate well being are more important than money and financial assets which is usually not the case.
Kaspa as a financial institution has an obligation to the investors. Smarten and his executive team has a moral and ethical responsibility which is a “level three leadership” trait. That is why I believe Smarten will choose to open the doors of Kaspa and do the moral thing. In the dimensions of leadership decision making has six areas that overlap each other which includes strategic, financial, ethical, moral, legal and cultural issues (Clawson, 2012, p. 77). When all of these are considered in the business practice the organization is viewed as a good place to work. There are both pros and cons to working from this philosophy, but the overall long term message it relays to other is we have morals and ethics in our daily practices.
In order for Smarten to meet the needs of both Kaspa and the community the following plan would be put in place. It would incorporate the organization to make immediate financial strategies for its customers. Allow the city to utilize its staff and immediate supplies to better serve the community, and decrease the liability risks that Kaspa could possibly face. As said before it runs a risk either way it goes:
1. An overall assessment of the immediate situation should be looked at. By doing this a tentative plan could be put in place....