Keeping your cool amidst crisis: The CEO can’t afford to panic

 

Our class had its first case study “The COE can’t afford to panic”.  The analysis is not just about coming up with the best course of action from a business perspective but also considering the ethical implications of one’s decisions.  The Kaspa Gerald Smarten, CEO of Kaspa Financial Services (Kaspa) is having a dilemma. While presiding over the usual Tuesday meeting of the company, a bomb exploded at nearby train station causing confusion, uncertainty, and even fatalities on the area. Given this circumstance, the city requested whether Kaspa is willing to help to the community by providing its space to become a triage center and a temporary morgue. Standpoints of the members of the management team also exists at this point with some agreeing to the city’s request and others arguing against it.     Smarten as the CEO has to make an important decision in a short period.

Our group assessed the case using the Marrkula and Triple Bottom Line Frameworks, the group recommended for Smarten  to offer the company’s lobby and cafeteria to the city to help the victims of the subway bombing incident.

The group believes that going beyond the boundaries of the ordinary course of business, as traditionally set by society, is the best action to take.  This is because in the realm of ethics, moral conscience and civic responsibilities are expected to be exercised and mere compliance with regulations and a good achievement of one’s financial performance are outweighed by different things affecting society.

The business arena is getting more and more competitive and managers, especially CEOs must be in the forefront of making an effort in differentiating their organizations from the rest.

 

 

 

 

 

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s