How Accidents Can Ultimately Lead to Closure
Accidents and incidents which occur at a place of work can have a number of consequences, potentially affecting the health and safety of people nearby, not to mention local wildlife and the surrounding environment. Depending upon the severity of the incident and the substances which are present that can be unintentionally released into the atmosphere of groundwater, these incidents can result in anything from no serious health effects to large-scale death and destruction.
The immediate repercussions of the incident may not be overly onerous. The company may receive a large fine, but compared to its current profit levels it could easily make this back in the future. The real problem for the company comes when the incident has an effect upon sales and subsequently those levels of profit, as will often happen after a company takes a significant hit to its reputation and brand image after being responsible for a damaging incident.
Consequences Can Affect Businesses of all Sizes
At one end of the scale, a small business which depends upon the custom of the local town may find itself shunned if it causes an accident or incident which kills or injures a number of members of the community. This will have a serious chance of forcing it out of business as the much-declined revenue now struggles to cover the outgoings.
Even large multinational corporations can come near to closure or even be forced into bankruptcy by the same principal, but on a national or international level. Major accidents which make national or international news headlines can come to a wide audience extremely quickly, especially now that social media enables people to share news stories amongst many others all over the world within seconds.
If fines and compensation claims are severe and also rumble on for years, causing uncertainty amongst investors, the long-term effects of relatively poor sales can have damaging effects upon the viability of the company, which is sometimes terminal.
Particular causes of large-scale outrage and product boycotts are those which negatively affect the environment in some way. Environmental activists and campaigners can bring about severe disruption for a business which they believe to be significant harmers of the environment, whether this is an accident such as an explosion or spill, or as a result of deliberate dumping of waste or releasing a lot of toxic emissions into the atmosphere. This is why environmental courses like the NEBOSH Environmental Certificate are increasingly popular so that there stands to be less chance of negatively impacting the environment and suffering the potential financial consequences of doing so.