The Impact Of Terrorism On International Business

So far, terrorism has been a key obstacle to many foreign nations, as they are struggling to prevent terrorist attacks. From the year of 1997 up to the year of 2003, international terrorist attacks have gone from less than 500 to almost 3000. Overall, global terrorism has grown by almost 1200% from 1997 to 2003. (Johnston 1). This massive increase in terrorism reflects on other nations' lack of control of the safety of their nation. These statistics also show that something needs to be done to protect the

political and social circumstances; that is, terrorism involves variables that can be measured on a criminological scale. The measurable by-product can be examined through psychological factors that vacillate with political circumstances. Ross's conclusions lead to two practical considerations.

As a result of the 9/11 attacks Canada 's counter-terrorism strategy was no longer considered to be sufficient to adequately manage the real or perceived risk of terrorism. This was of particular concern due to the threat of an insecure northern border that was perceived by the U.S. This caused Canada to significantly change its approach to terrorism related risk management. The essay will examine how the events of 9/11 have impacted Canada’s approach to terrorism related risk management. While Canada made many changes, the essay will examine this in terms of: the introduction of stronger anti-terrorism legislation, a fundamental reorganization of the federal bureaucracy and a move towards all hazards emergency management.

Terrorism is one international political issue that has been significant in US society since the end of the Cold War. Since the attacks of September 11, 2001, America’s sense of security has been destroyed and continued terrorist attacks in other parts of the world targeting Americans, as well as other allied nations further fuels a sense of anxiety. From Bin Laden, to Saddam Hussein and ISIS the fear of further terrorism attacks is

The terrorist attacks on 9/11 made a great impact on our nation both economically and psychologically. This paper reviews the findings of some of the research that has been done since this tragic event. A big topic is the initial response our government had after the attack. This includes local, state and federal government. Many new emergency response protocols have been put in place based on the rescue efforts that took place that day. It took the lives of many for our country to understand how real the threat of terrorism is in America. Terrorism is so prevalent in other countries. The United States should have learned from their experiences instead of waiting until after it happened. Furthermore, in this age of terrorism,

This article focuses on data of international terrorism compiled by institutions such as the RAND Corporation, the Memorial Institute for the Prevention of Terrorism (MIPT) and International Terrorism Attributes of Terrorist Events (ITERATES). The purpose of the article is to seek the answer for the following questions: Has there been an increase in the raw number of international terrorist incidents over time? Secondly, have individual acts of international terrorism become more violent over time? Thirdly, has the frequency (annual number) of lethal international terrorist incidents (a lethal incident is defined as leading to at least one death) itself increased over time? And fourthly, what patterns other than time dependence (or independence)

The government of the United States has no greater concern than protecting her people, both when at home and at abroad (Harvey, 2012). Thus, being prepared to combat terrorism is of critical importance, not only because of the often severe consequences of the attacks in terms of loss of life for innocent Americans and property damage, but equally because of the destruction which the attacks or threats can cause to the independence and the legal order (Franco & Sell, 2010). When a politician,

A complex phenomenon, terrorism rarely has a “one size fits all” solution. Rather, “effective responses to terrorism may need to take into account, and to some degree be individually configured to respond to, the evolving goals, strategies, tactics and operating environment of different terrorist groups” (Perl, 2007, p. i). Indeed, taking an individual approach to measuring effectiveness could be both time consuming and confusing. However, by taking a look at the problem as a whole, some commonalities do exist. For example, in his CRS report, Perl (2007) notes that the impact on society, “[b]oth material and psychological impact beyond a critical threshold, such as disruption of the banking system, or establishment of such pervasive fear that key civil liberties or moral principles underlying the national identity are set aside by the government in the interests of security” (p. 8), could possibly be used as a measure of effectiveness. How quickly we recover from a terrorist attack (measured in days) or our reaction to it (i.e. restrictive or oppressive policy) could be an indicator of how effective our counterterrorism strategy is. For example, a robust counterterrorism strategy may result in limited, small scale attacks that require mere days to recover from, the Boston Marathon for example, as opposed to the complex, large scale attacks we

For a more robust test of the relationships, we conducted a series of stepped logit regressions, the first of which are summarized in Table 8, Analyses 1 and 2. Analysis 1 looks at the relationship between Terrorism Exposure and Firm Performance Resistance, with Time Since Last Attack as a moderating variable. Analysis 2 looks at the relationship between Terrorism Exposure and Firm Performance Resistance, with Business Continuity Plan as a moderating variable. The overall percentage shown in the model summary (Overall %) is the predicted percentage of firms that would have the outcome of resistance (coded as 1) to the focal terrorist attack – meaning that the stock price did not drop by 0.5% or more. Finally, the Nagelkerke R squared and the statistical significance (Model

Concepts are the building blocks from which theories are constructed. A concept analysis will clarify the meaning of a concept and help us understand the current theoretical and operational definitions of the concept for use in theory and research (Walker & Avant, 2005). The concept resilience was chosen for analysis because of its many uses in the literature today, and the need of a central, encompassing, modernized definition. In wake of the recent tragedies that have been occurring, resilience has become more widely used and its definition has been stretched. If this concept is to be used in its entirety, a centralized definition will need to be developed and a consensus on the defining attributes will need to be proposed.

The creation a resilient global terrorist network relies on the same fundamental building blocks as a corporate business, from organization to strategy. Each company has set leadership, goals, and the necessity of funding to operate. While creating the now infamous al Qaeda terrorist network, Osama bin Laden relied heavily on his background

The Economic consequences of terrorism (Lenain, P (2002) stated that Private businesses suffered profound destruction of assets that was calculated in national accounts to amass to $14billion, state and federal government enterprises suffered a loss in the region of $2billion, what was also astounding to read was that the rescue and clean-up costs totaled to an amount of at least $11billion.

“Austria is at 40.7%, Italy 6%, Greece 23.4% and Europe at 29.6%” (Enders and Olson 2012). A economic hit like this in a country that relies on tourism could collapse it or make a long recovery. Another action that must happen after a terrorist attack is the necessitates of reallocation of resources across sectors. “Terror-prone sectors shrink as consumers and producers shy away from risky activities and attempt to substitute toward safe activities” (Enders and Olson 2012) If a country has a poor market based economy, it won’t be able to prioritize its resources to counter an attack that could cripple a sector of the economy. According to Kunreuther and Michel-kerjan (2009) terrorist attacks caused insured losses globally. NatWest tower bombing in London; $70 million, 1993 World Trade Center bombing was $725 million, London financial district bombing was $671 million and 9/11 cost $40 billion. This large payout caused the insurance industry to take out terrorism coverage or raised the premiums higher. Kunreuther and Erwann (2004) show that with these insurance policy changes places like Chicago

Terrorism Experience is an independent variable representing the depth of proficiency, knowledge, best practices and insights that corporations, who were directly impacted by a specific terrorist incident, acquire from coping with the effects of terrorism. The Terrorism Experience is measured in terms of the cumulative number of terrorism incidents that directly affected the firm. The number of attack incidents on a firm is a Traditional type of terrorism measurement as categorized by Frey et al. (2007) in Table 2. The data source for measuring the Terrorism Experience independent variable is the counts of the Event Identification Number, representing the year, month and day of the terrorist incident from GTD (2015), as shown in Table 3.

Over the years there have been significant changes in how terrorism is carried out. With the changes in how terrorism is carried out there have also been dramatic changes in how countries counter terrorist attacks. The modifications in the way a country counters these terrorist attacks affects international relations of these countries. These issues bring about the question of how have counter terrorism methods affected international relations. To answer this question several things must be addressed which are, methodology, history of terrorism, and a literature review of multiple authors that have discussed this subject.