How Man-made Disasters Affect Businesses.
July 15, 2019 by Staff
Filed under Education, Money/Business, Weekly Columns
(Akiit.com) Many business owners are well aware of the impact a natural disaster can have on their business, but what about a man-made disaster? People can be the cause of disasters too, including oil spills and other types of water contamination, as well as fires. When a man-made disaster causes problems for your business, it can be just as devastating as when a natural disaster occurs. There are some main ways that your business could be affected.
Business Operation
Being unable to conduct your business properly can disrupt you in a significant way. A disaster might have several effects, such as cutting off your electricity or water supply. If your business operations are disrupted, you might be forced to close your doors. However, you can create a strategy to help your business keep going.
Damage to Assets
Man-made disasters can also damage things like your business premises or your inventory, just like a natural disaster can. For example, a fire could be man-made, and could cause damage to your business assets. One of the most important things in these kinds of situations is to have adequate insurance so that you will be able to cover any expenses.
Sales
Even your sales can be affected by a man-made disaster. Some types of disaster can have long-term effects on demand and perhaps on the perception of a certain product or business. Of course, if your business is the cause of a disaster, you are likely to find that your reputation and sales are much more affected.
Infographic Design By University of Alabama Birmingham
Staff Writer; Carl Jones