The Real Disaster: Inadequate Preparation

Businesses are often not prepared for large-scale disasters – and as a result of globalization, a threat to one business has become a threat to all. Large-scale events in the form of terrorism or natural disasters hinder the supply-chain for businesses and the flow of goods to consumers. Despite widespread agreement that supply-chain disruptions can harm a business, few companies have plans in place. Companies can make contingency plans for supplies and also train workers for multiple jobs. But most importantly, in the event of a disaster, firms must act quickly and decisively when dealing with supply-chain disruptions. Only when businesses recognize potential threats to the supply-chain can they flourish in an increasingly connected world. – YaleGlobal