Sustainability of Global Businesses despite Terrorism

Abstract

Terrorism is now one of the major threats to businesses. These days, it has become worse. More terrorist groups are formed. More countries are being targeted. The businesses or the business premises are being attacked. Terrorists’ techniques and technology also advanced, thus, giving more challenges to different business sectors across the globe. Terrorism poses dangers to business operations. Some companies could be destroyed. Some businesses struggle on the reduction of customers’ demand, the potential to bring serious difficulties on the value and supply chain, effect of new laws and regulations in response to the terrorists’ acts and the challenges on weakening relations that affect international trade. This study focused on how the business, small or large scale, should prepare for the increasing terrorist threats and how to deal with the effects based on the business sectors that were affected and their experiences and response to the effects in order to survive and thrive. Strategies on the sustainability of global businesses despite the increase in threats due to terrorism are emphasized.  Diversification of activities across nations or among industries is important. Firms need to have their business continuity plan. In case of direct effects of terrorism, the company should come up with a man-made-disaster recovery plan. The triumph of the company on its combat to the threats and effects of terrorism depends essentially on the formulation and application of these strategies.