Challenges in Cyber Security Assignment PDF
Added on 2021-05-31
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Running head: CHALLENGES IN CYBER SECURITY0Business ResearchChallenges in Cyber Security for Business
CHALLENGES IN CYBER SECURITY1Table of Contents1.Introduction........................................................................................................................22.Project Objective.................................................................................................................23.Project Scope......................................................................................................................24.Literature Review................................................................................................................35.Conclusion...........................................................................................................................76.References..........................................................................................................................87.Appendix...........................................................................................................................11Table of FiguresFigure 1: Growth in Investment in Cyber Security...................................................................11Figure 2: Companies which invest in Cyber security...............................................................11Figure 3: Number of Social media and Smartphone Users......................................................12Figure 4: Risk of Insider Threat................................................................................................12
CHALLENGES IN CYBER SECURITY21.IntroductionThe competition between industries has grown substantially, and they use moderntechnologies while performing their business functions in order to gain a competitiveadvantage over others. The use of the internet is common in modern enterprises because itassists them in increasing the efficiency of their operations and improving overallproductivity. As per Glantz, Landine, Craig & Bass (2014), while using online-based services,corporations face the risk of cyber-attack and data breaches which resulted in causingsignificant financial loss to the enterprises. In order to address these issues, companies arerequired to invest in improving their cyber security. Cyber security is referred to the body ofprocesses, activities and technologies which are designed in order to protect computers,networks, data and programs from damage, attack, breach and unauthorised access. Buczak& Guven (2016) provided that the role of cyber security has increased between corporationsalong with the risk of cyber-attacks. However, companies face a number of challengesrelating to cyber security. This report will analyse the challenges faced by enterprisesrelating to cyber security. This report will evaluate different ways through which cybercriminals attack corporations which increases their challenges relating to cyber security.Furthermore, this report will provide recommendations for companies that can beimplemented by them for improving their cyber security.2.Project ObjectiveThe main objective of this report is to analyse the challenges face by companies relatingto their cyber security. This report will evaluate different literatures to understand the roleof cyber security in organisations and analyse different ways through which cyber criminalsbreach the data of organisations. The goal of this report is to provide recommendations forenterprises which assist them in improving their cyber security.3.Project ScopeThis report will evaluate a number of studies to understand the challenges faced byenterprises relating to their cyber security. This report will analyse the examples of many
CHALLENGES IN CYBER SECURITY3corporations that face the challenges relating to cyber security. This report will includerecommendations for companies which they can use to improve their cyber security.4.Literature ReviewBen-Asher & Gonzalez (2015) provided that cyber security is referred to a set oftechniques which are used by enterprises to protect the integrity and security of their data,programs and networks form damage, attack and unauthorised access. The importance ofcyber security has increased between organisations as the number of cyber-attacksincreased. Fielder, Panaousis, Malacaria, Hankin & Smeraldi (2016) stated that thepopularity of internet in the business had created new opportunities for enterprises, andthey use them to perform various activities such as communication, market research, sellingand others. However, along with the use of internet in corporations, the risk of cyber-attacks has increased as well. Cyber criminals use different ways to attack enterprises toaccess their data and collect confidential information to gain an unfair advantage. Due toincreasing number of cyber-attacks, the investment in cyber security is increasingsubstantially, and it is expected to reach over $96 billion in 2018 (Hopping, 2017) (Figure 1).Large organisations are able to invest heavily in improving their cyber security howeversmall and medium enterprises avoid investing in their cyber security which resulted inincreasing cyber-attacks on them. The primary challenge relating to cyber security is lack ofinvestment. Most organisations did not take their cyber security seriously, and they did notinvest properly to secure their data from cyber-attacks. Cherdantseva et al. (2016) arguedthat it makes the process of hacking easier for cyber criminals because it reduces thenumber of barriers faces by them while hacking into the system of others. It is also the mainreason due to which cyber-attacks on small and medium enterprises are increasingsubstantially.Another challenge with cyber security is lack of awareness among organisations. Due todigitalisation, the number of enterprises using the internet for business has increasedconsiderably; however, the awareness regarding security issues has not spread amongcorporations. Many large cyber-attacks such as Yahoo data breaches in which more thanthree billion people were affected have raised awareness regarding cyber security issues. Asper Knowles, Prince, Hutchison, Disso & Jones (2015), corporations still not take their cyber
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