Introduction to International Disaster Management - Assignment Example

 A bombing scenario is a serious disruption to a society’s daily functioning (Coppola, 200). The outcomes from the disaster due to unpreparedness include loss of lives and permanent injuries to some of the survivors considered as human impacts. The depression of an economy is another direct repercussion of the scenario and the destruction of buildings and pollution of air are bombing outcomes classified as material and environmental impacts respectively. The mentioned repercussions exceed the society’s limit to cope utilizing its own resources. Breakdown of currency valuation may result to havoc in the street where the economy’s recovery process proves an insignificant change. It is evident that only negative outcomes result from the scenario in discussion both indirectly and directly. 1. A complex system developed by the Federal Reserve System is vital for ensuring continuity of the bank’s operations because it minimizes the possibilities of negative impacts resultant from the disastrous scenario. In this case, economic development and security on finances of the society is at a minimum in comparison to lack of the complex system. Continuity of operations eliminates unemployment of personnel in the wake of the disaster and offers financial security on resources belonging to its clients and investors. The development of the system is an approach referred to as disaster preparedness. It allows efficient management of the discussed scenario while aiming to achieve a smooth transition from response to the disaster through to sustained recovery transition. An immediate consequence of the bombing, classified as a complex emergency, is the loss of lives and injury of individuals present at the time of attack. The damage of the available resources and assets of the Federal Reserve is an immediate consequence of the scenario as well. On the other hand, indirect effects of the disaster in discussion include the loss of both local and foreign investors from the Federal Reserve. The banking system collapses for this matter and economic depression sets in. In the long-term, the working force of the nation is retrenched due to economic depression. Consequently, the unemployment rate is on the rise while the purchasing power of the consumer decreases because of inflation of goods and services. Crime as a vice stems from the fore mentioned consequence. The security of the nation is then compromised. One negative consequence produces a ripple effect to the nation as an economy. The Federal Reserve ripples the entire economy because it houses the other banks in the United States of America. 2. The Central Banking System, another reference used for the Federal Reserve, headquarters in Washington D.C could close down completely with the sudden onset of the Ebola virus that contagious (Hafer, 130). The nature of the virus, that is, ability to be contracted easily classifies it as pandemic to the society. Such a disaster is referred to as a pandemic emergency. It has the power to disrupt business operations bringing economic and social costs while it takes a toll on the health of individuals. Another scenario that could result to shutting down of the organization is the occurrence of a technological accident in the form of a malfunction of software in the production of money. The disaster not halts the normal functioning of the Central Banking System but the operation of other banks in the economy. The closing down of the financial institution results from the mentioned disaster that classified as an environmental emergency. A high magnitude earthquake is a natural disaster that impacts on the human health almost immediately. The disaster causes further death due to secondary impacts. The natural disaster is a certain pass for the closure of the headquarters of the Federal Reserve System. An unresolved conflict within Washington D.C that results to war in the district is a scenario that promises the complete closure of the financial institutions to avoid looting and attacking of the building. A Complex emergency is a classification of such a disaster (Coppola, 200). The Federal Reserve is sensitive to activities that have any magnitude of negativity on its normal functioning because it is the core of financial institutions in the United States of America. 3. Disaster preparedness minimizes the loss of lives and damages by achieving a satisfactory level of readiness in response to an emergency. It is a certain method of management in reducing the hazardous effects of the bombing scenario. Preparedness in the management of risk of an anticipated disaster resulting from the bombing is a wise decision on the part of the Federal Reserve. Loss of life and disabilities because of injuries are prevented from happening or reduced in impact for that matter. Financial insecurity through the loss of client and investor monies is thought through when the organization prepares itself for such a disaster. An example of a measure in response to the event before it takes place is the evacuation of the staff from the headquarters and relocation of the work force to an appropriate branch (Havrilesky, 10). Training should precede relocation; the exercise should involve any individual associated with the Federal Service, from the employees to the clients of the organization and the public. From there, the organization should seek professional intelligence on the matter for employment of warning systems. The society at this point is keen on matters pertaining security. The headquarters of Federal Reserve Systems should also seek protection from the legal authorities as a measure of vigilance of the enemy’s action. The rear-mentioned is a mutual aid agreement system as a measure of disaster preparedness. Of importance too is the inclusion of emergency communication systems in the preparation of preventing the discussed scenario from taking place. An example of an emergency communication system is the news broadcast through the television and radio sets. The contact 911 is an emergency contact list accessible through any telephone device at no cost. Emergency contacts list should be readily accessible to all as a preparedness measure against an anticipated disaster 4. . A suitable plan of operation by the Central Banking System headquarters when not in service is to relocate the work force to an appropriate branch. The action is beneficial for the normal functioning of the entire system without compromising the roles of employees in the Federal Reserve and their lives as human beings. The Federal Reserve Bank of Boston can measure up as temporary Headquarters. Relocation of the headquarters is orderly in transitioning of operations in the time of the event. Financial losses are minimized as compared to not operating at all. If the Federal Bank is to gout of commission, the government of the United States of America shall incur billions in losses each passing day. Boston is the First District of the Federal Reserve System (Brezina, 3). There are twelve districts of the Central Banking System. Each of the twelve branches is named based on the city it dwells. Boston is a large city, known to be one of the wealthiest and influential in the United States of America. For these reasons, it is an appropriate candidate as a temporary headquarters for the Federal Reserve. The bombing scenario is a possible future event but uncertain in nature. The parking accommodations should therefore not be part of the relocation plans. The level of certainty of an event dictates the type and magnitude of plans made for restructuring the organization. Parking accommodation translates to permanent relocation of the bank’s headquarters and that is not the case for this discussion. The case for this discussion is that the financial institution is on a temporary relocation plan that is part of the Disaster Risk Management Program. Instead of parking accommodations, the organization should pay for hotel accommodation for the staff members in the city of Boston. A substitute to the parking accommodation plan is to offer transport services to staff members from the resident hotel to the place of work. It is more cost-effective for the organization in comparison to paying for parking accommodation in the city while the employee benefits from a reduction in transport costs and fatigue related issues due to long distance travel. Evidently, both the organization and the employee benefit from the cost-effective relocation arrangement. The rare-mentioned point, relates to an employee’s work output. A potential problem about relocating to Boston is that of overcrowding in the temporary headquarters because of influx in the employee population. Coming up with temporary structures for the relocated staff members is a desirable measure in comparison to shifting other employees to other branches. The latter as a measure to eradicate overpopulation puts the Federal Reserve at a disadvantage because the organizational structure is tampered with. Again, disorganization of a business structure affects the overall performance of the Federal Reserve System. Works Cited Hafer, Rik W. The Federal Reserve System: An Encyclopedia. Illustrated ed. Greenwood Group, 2005. 451. Print. Brezina, Corona. Understanding the Federal Reserve and Monetary Policy. Rosen Group, 2011. 80. Print. Coppola, Damon P. Introduction to International Disaster Management. 2nd ed. Elsevier, 2010. 696. Print. Havrilesky, Heather. Disaster Preparedness. Reprint ed. Penguin Group (USA) Incorporated, 2011. 239. Print. Read More