Security measures can enhance the supply of goods and the transportation of people for trade. After September 11, attacks many people, companies and the government have been putting effort in protecting of U.S from terrorists attacks. The attacks greatly affected trade globally as the supply chain was affected due to fear of insecurity. Researchers have been conducted and are still being conducted on how to improve security globally and combating terrorists attacks. After September 11, 2001 attacks on the trade towers and pentagon, Americans realized they were not secure as they thought.
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This called for the Americans to check on their security and in particular on transport systems especially airlines. Security officers are now been seen as defense to terrorism threats. Security guidelines were set and are being implemented. Many companies have upgraded security within their buildings. CCTV cameras have been placed in the buildings to keep track of people entering the buildings. Researchers have implemented heavily on security measures to avoid a repeat of what happened on September 11 (U.S. Customs & Border Protection, 2011). This paper will look at the maritime security requirements and specifically look at an article by Delloite research on the topic “Prospering in the Secure Economy”.
Article; prospering in the secure economy by Delloite research
The research was conducted to address the issue of a slow-growing economy. It was aimed at finding out the reasons behind poor economic growth. Throughout the article the research question that is implied is what has caused the slow growth of the economy and how can the growth be improved or hastened. This is clearly illustrated as the article is showing the attempt of the U.S to increase the deficits to stimulate economic activities. In the article, western Europeans are making haste in cutting the budget deficits in trying to improve the economic growth but this is not the case in the U.S. The question is that can deficit-cutting be done now or later?
And Delloite (2004), states that this depends on the circumstances in a country. For instance, the security issues in the U.S after September 11, attacks can affect the growth of the economy as a lot of efforts and finances are being directed to maintaining and protecting U.S from terrorists attacks. Delloite (2004) is in support of a secure environment for commerce to thrive. It is therefore in support of the U.S to strive for security which will in return enhance commerce development thus economic growth (Ritter, Barrett and Wilson, 2007). According to Delloite Research (2004), a secure environment is the key to the development and success of trade and commerce globally.
The central argument that is clearly stated in the Delloite research article is that the economy of a country can be accelerated or improved if commerce is taking place properly. It focuses on prosperity in commerce and trade for economic growth and development in a country. According to Delloite security greatly affects trade globally. Firms should invest in security to be sure of the continuity of their operations. Federal government and private investors should cooperate in maintaining security for economic growth. Investment returns include long term market sharing, insurance of continuity in firms and high brand equity which is only possible in a secure environment.
According to Deloitte research, commerce in a secure market brings with it measurable benefits such as cost reduction which are as a result of security-related investments such as IT tracking of cargos whereby there is cost-sharing for shipping security among private firms and the government. There is also the benefit of better risk management which is driven by security policies. According to Delloite research U.S economy will continue to grow at a slow rate but it will depend on the implementation of policies and impact of overseas events. In the policies, the low level of inflation provides room to maintain a more aggressive stand.
Total security management is good as it offers measurable and long term benefits to businesses and thus firms should invest in security more. Security and resilience of a firm improve measurable market gains but it does not add directly to business profits. Firms should relate total security measures, activities they should invest in, and the risk ratio the measure will offset. Security measures are greatly supposed to be managed by the private sector traders. They are the ones who control the transport systems in a wider range. This has not been so as security measures have not been fully implemented.
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Delloite Research (2004) argues that it takes approximately twenty-five parties and thirty documents to take good from one place to another and therefore chances of interference with the transport system are very high. It states that the benefits of investing in effective security in transportation have never been greater but it is because the interruptions in transportation, such as threats have never been great. The government has shown it cannot fully respond to such attacks such as earthquakes and it can take longer to recover from such events everywhere and at all times. Government is not able to recover rapidly from such events and thus it leads to adverse effects on the economy.
This calls for the private sector to take responsibility in preparing for the effects of such events in the future. The private sector firms and insurances need to prepare to reward the companies that take responsibilities of preparing for such events and their attacks in the country (Nitsch & Schumacher, 2002). According to Delloite, infrastructure and commerce are interconnected for economic growth. The modern commerce greatly depend on the interconnection of systems such as transport, electricity, and all the other physical infrastructure for easier movement of good and people worldwide. International communications are the backbone for modern commerce and they rely on critical modes such as roads that are used for transportation of fuel and people among other goods.
That’s why according to Delloite an interruption of the supply chain can have adverse effects on commerce worldwide. A snowstorm can affect transport in the whole of Europe and closure of ports in Hong Kong and Singapore can have adverse effects on trade worldwide. Interstate commerce relies on a safe and open highway with a supply of automobile fuel (Delloite Research, 2004). These periods are faced with great changes like weather changes, threats, and crimes thus there should be strategies to create awareness and timely response to such events. The security should be enhanced in the supply chain and borders for globalization. Total security management is important for it enhances preparedness for events that disrupt the supply chain which is vital for globalization and commerce.
The Study Answered the Question
The study has answered the question of what is causing a slow growth of the economy. The Delloite research answers the question that it is important to maintain security for effective globalization and development of commerce for economic growth. This is satisfying for total security management creates preparedness for events that might interfere with globalization. Any event that can interfere with the supply chain can lead to great losses globally. Disruptive events can take place at any time and place leading to great losses affecting nations (Delloite Research, 2004).
Total security embraces the changes that come as a result of globalization and it takes them as opportunities for improvement. Enhanced revenues as driven by technologies used to monitor security are realized when trade runs smoothly. When there is security brand is protected. Investors should invest in security in order to protect their interests and enhance economic growth. Delloite focuses on events that burdens the economy and indeed they ought to be dealt with as they have currently led to high prices of food and fuel. Delloite research emphasizes that both manmade and natural events that interfere with commerce and economy should be addressed accurately and on time to prevent serious effects on the growth and development of the economy.
It can be hard to reverse these effects and can lead to slow growth of the economy. These events can contribute to inflation as described by Delloite. According to Delloite Research (2004), there are great benefits when commerce is taking place in a secure environment. The benefits are not direct profits but they assist in business development thus in economic development. The benefits are measurable market gains. The security measures should be put in place to prevent disruptions and prevent the possible impact after the event. The organization that will prosper in the face of new realities after the September attacks will discover how to create economic value from creating relationships, products, and processes that bring security.
This period is defined by threats awareness, compliance and rapid response to these threats. Secure economy calls for great collaboration between government and business. There must also be enhanced shareholders and constituent value in security. Organizations that miss compliance in security requirements miss the opportunity to experience the current changes in business (Clifford & Philip, 2005). This article has answered the questions on how the businesses need to do to acquire a secure economy. Delloite research emphasizes that the economic playing field has changed as a result of terrorist attacks and other interruptions that affect businesses. New government requirements on security have to be complied with to enhance security. The article has answered on what the organizations should do in protecting the brand which is the most important asset in businesses.
Delloite research has explained that companies need to be managing risks and uncertainties immediately to avoid negative effects on the economy. The organizations must also be ready to respond to crises as they occur for delay may lead to damage to the brand permanently. The organizations are advised to integrate security strategy across the enterprise instead of a balkanized approach that weakens security. The security model should be integrity oriented and directed by an enterprise chief security officer (Delloite Research, 2004). The government, on the other hand, has the role of promoting information sharing on security issues and supposed threats to ensure preparedness.
They should also give incentives to organizations to encourage them to invest in security and comply with the directions set to enhance security. It is the role of the government to promote global cooperation on standards set to ensure global security (Clifford & Philip, 2005). Delloite explains that combined effort should be put in place in order to achieve a secure economy for threats and other disruptions will not go but how we respond is the key to preventing them harm businesses and the economy.
Maritime commerce is considered the most vulnerable area for terrorists to hide their weapons in cargos that are being transported daily. According to a Delloite survey companies’ rate maritime transportation at 70% vulnerability. This triggers countries and organizations to greatly invest in maritime security. U.S has introduced maritime transportation act and container security initiatives as security measures at the maritime (Delloite Research, 2004).
Other Points Of View
Delloite research gives other points of view such as tightened border control to maintain security can affect commerce. For instance, the US visit program costs over $10 billion this can lead to reduced transportation of goods and thus affect commerce. Tightened border regulations in an effort to maintain security can affect commerce. Delloite also view rail travel as another area of terrorists’ attacks. For example, the march 2004 Madrid train bomb. This shows that maritime is not the only area of vulnerability and thus it calls for enhanced security measures to be put in place in rail travel. Deloitte also suggests that terrorists can now move to transport their weapons by trucks when maritime is secured and thus it calls for security measures been exercised on all transport systems.
The findings support the author’s thesis in that to develop economically, commerce has to be conducted in a secure environment. The author insists on the cooperation of government and the private sector in achieving security and preparedness in case of disruptive events that may affect the commerce. Lack of immediate response to events that disrupt commerce has led to slow economic growth.
Clifford, D. and Philip C, (2005). Situational Crime Prevention: Successful Case Consequences of Global Terrorism workshop. NY: Harrow and Heston Publishers.
Delloite Research, (2004). Prospering In the Secure Economy. Web.
Nitsch, C. and Schumacher, D. (2002). Terrorism and Trade, paper for The Economic Research. Berlin: German Institute for Economic Research.
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Ritter, L., Barrett, J. M., and Wilson, R. A. (2007). Securing Global Transport Networks. New York: McGraw hill professional.
U.S. Customs & Border Protection. (2011). National Terrorism Advisory Systems. Web.