Business Leaders Begin Preparing For War

February 14, 2003 is a pivotal day in the timeline of world economic stability. As war becomes seemingly inevitable, and the risk of terror attacks increase, business leaders around the country are addressing what they need to do to be prepared. This time, preparation is as crucial for the managing partner of a small CPA firm in Memphis as it is for the head of a multinational corporation on Wall Street.

The University of Pennsylania's Wharton School of Business held an international symposium this week with global executives to discuss how businesses can and should prepare themselves in the event that the United States goes to war with Iraq.

The threat of war, coupled with a lame economy, has caused many businesses to postpone new projects and hold off on any new investments until more certainty of the future is known. "A lot of businesses have put themselves on hold," said Colin Crook, an adviser to the Wharton Fellows program and former chief technology officer for Citibank. "And the feeling of general economic malaise is worsening it. This is a … bleak situation, a double whammy. Nobody sees any positive signs of any sort."

Separately, in Washington, New York, Los Angeles, and large cities across the United States, business leaders are meeting with local government officials to prepare contingency plans, evacuation plans, and "survival" plans in the event of a chemical, biological or nuclear attack.

Resources Available to Business Owners

A number of resources have been developed to assist business owners create a disaster plan and prepare for the worse. Among them:

You may like these other stories...

Steve Jobs. Sergey Brin. Mark Zuckerberg. Each of these individuals, and their companies, are celebrated as changing the face of the technology. They all followed a similar path to success: excelling at one thing and...
Read more articles by Sally Glick here.While reading a recent article titled, "Bondage to Busyness," by Alan Morinis, I was struck by his reminder regarding how stressed and pressured we all are today. Our...
To assist firm leaders in making key decisions for the future, BKR International, one of the top 10 global accounting associations. recently put together a list of the five priorities managing partners must address...

Already a member? log in here.

Upcoming CPE Webinars

Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.
Sep 30
This webcast will include discussions of important issues in SSARS No. 19 and the current status of proposed changes by the Accounting and Review Services Committee in these statements.
Oct 23
Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.
Oct 30
Many Excel users have a love-hate relationship with workbook links. For the uninitiated, workbook links allow you to connect one Microsoft Excel spreadsheet to other spreadsheets, Word documents, databases, and even web pages.