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Business Security and Terrorism - Essay Example

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Terrorism has become a major issue of concern for top executives of large firms. For that reason big business corporations expend funds to guard their chief executives. It is more comparatively imperative now more than ever to guarantee protection with private security agencies…
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Business Security and Terrorism
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Download file to see previous pages Google was more economical, using just around half a million dollars. Big corporations are clearly noticing that the wellbeing and safety of their summit leaders is a vital component of doing business (Lerer, 2007).
Particular business executives are in added danger compared to others. Whereas the Google chief executive, Eric Schmidt is worth very much, other directors are subjected to further scrutiny. For example, Schering-Plough top executive Fred Hassan has been presented with several threats from the activists of animal rights for Schering-Plough's participation in animal testing. Other top executives move their dealings to distant sites where security can be turned to a necessity. When business heads travel to countries such as Guatemala they frequently employ security to guarantee secure movements. All of the funds used up on protection of executive can compensate for itself if it averts just a single major misfortune. Terrorist attacks on business executives does not merely result in human suffering, it as well drives down the prices of stock and undermine the leadership of the company. A solitary abduction or robbery could cause damages of up to several million dollars. This figure can be overblown by medical and even legal costs. Paying out a mere portion of this to thwart such like instances is turning into a major priority for the major business industry stakeholders (Alexander, 2004).
Countless executives are resorting to private security firms to offer the security they require. Technologically savvy protection means are utilized by the specialized private firms in protecting the executives and it is not unusual for the business leaders to move around the globe with executive bodyguards who present urgent security and support in precarious periods.
How should businesses shield themselves and Executives against terrorism
Being a top business executive could not be risky money-wise, but it is surely hazardous. That is a logical conclusion if it is based on the tens of millions of dollars that a number of firms will spend shielding their top echelon managers. The Executive recompensing information archived by the Securities and Exchange Commission of the United States, over the last year or so reveals precisely the amount of funds companies use up to shelter their summit executives. From the archived information, firms take protection against terrorism so critically, furnishing their "C-level" workers with automobiles, airplanes and residence alarm systems. Others withhold on the security costs, reimbursing nominal sums for minimum security arrangements.
Leading the group of firms investing in executive protection is Oracle that used up 1.8 million dollars shielding their CEO, Larry Ellison in 2007, (a 40 percent rise from the previous year. Tellingly, the 1.8 million dollars did not cover up each and every one of Larry Ellison's protection expenses. The billionaire executive, in addition, used up his personal resources in the installation of high-tech security system in his personal residence in ...Download file to see next pagesRead More
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