Cyber Security Threats and Business Impacts

This assignment analyzes the escalating challenge of cybersecurity for businesses globally. It highlights the financial and reputational consequences of data breaches and discusses how technological advancements both optimize business operations and increase the number of cyber threats organizations must address.

Report
Student Name
Institute Name
Contents

Introduction......................................................................................................................................3
Project Objective.............................................................................................................................3
Project Scope...................................................................................................................................4
Literature Review............................................................................................................................4
Research Questions/Hypothesis.......................................................................................................7
Primary Question.........................................................................................................................7
Secondary Questions....................................................................................................................7
Research Design and Methodology.................................................................................................7
Qualitative research......................................................................................................................7
Quantitative research....................................................................................................................7
Research Limitations.......................................................................................................................8
Time Schedule.................................................................................................................................9
Conclusion.......................................................................................................................................9
Reference.......................................................................................................................................10

Introduction
The cyber security is an impactful method that develops to save the data, networks from diverse
kind of cyber-attacks. The concept of cyber security is also called as computer security and IT
based security. The concept of cyber security saves the data, hardware as well as software of the
system and IT safety (Schweer et al., 2017). Cyber security also saves the data, software as well
as hardware of the system from various harms like theft of information or money, harm or wrong
usage of information. In the modern world and context, the concept of cyber security is very
crucial because of rise in cybercrimes and the requirement for security is rising in diverse
sectors. The concept of cyber security plays an important role in the field of business. The
security or safety of data from a company is crucial as it can be used in wrong manner by
number of unauthorized people. The report will discuss in detail about the different facets
associated with different factors or aspects of it (Zhang et al., 2017).
Project Objective
The objective of the project is to gain more knowledge related to testing diverse challenges in
cyber security and it is done in context with the business. The works of research of different
researchers are employed in the report to gain more clarity about the concept and its significance
in business. The report will also analyze different aspects associated with cyber security. The
project is looking for answers for different important question mentioned below with the help of
aiding different research paper on the challenges of cyber security for the business (Biancotti,
2017).

Project Scope
The projects show different dimension of cyber based issues from business point of view. The
work of number of researchers is utilized to accomplish the deep understanding about cyber
issues. The report will help in evaluating the different data about number of challenge in cyber
security (Hu et al., 2017). The information is collected primarily because of different sources like
books, journals, research paper and many more. The discussion will include diverse aspects of
cyber security as well as answers the crucial questions linked with cyber based security
challenge. The project guides to gain knowledge about all kind of cyber based risks and
challenges related with cyber security (Sturm et al., 2017). The work will also show the different
kind of methods to save the organization from cyber threats.
Literature Review
Following is the detailed discussion of challenges in cyber security in business: -
1. Ransom –ware: the danger from ransomware is grave by nature and in recent examples
like WannaCry has proved that the gravity of the issue and the length at which it can
impact the system. The concept typically restricts the user to access the crucial
information as well as data of the computer or networks until right payment is made. At
the same time, cyber criminals don’t always help the devices in freeing up when the
ransom is met and often try to take more money from the victims (Musleh et al., 2017).
2. DDoS also called as Distributed denial of services attacks: the concept can attack at the
same time also cripple so many big names at the same time in last few time which happen
to include BBC, cloud related internet performance and management companies like
Dyn. The attacks here will not only just scale up in the current year to terabyte per second

in some cases however also enhances the overall frequency to a total of ten million
attacks. The overall volume as well as scale is based on different breached that can
challenge the defense system of a company no matter what the size is (Trugeman et al.,
2017).
3. Hacktivism: all kind of crimes or criminals are not profit focused and the rise of
hacktivism meant with rising number of people that are breaking into current computer
system for political as well as socially charged factors. These kinds of attacks can be
highly damaging than any kind of normal or traditional threat since the act of hacktivist
usually tried to make statement so that the efforts normally damages the overall
reputation of company. There are also major safety issues since the concept of hacktivists
can sometimes completely overrides the safety method or sometimes publish the
document that help in posting national level risks in security.
4. Internet of Things also called as IoT: as per the estimates by Macfree there will around
two billion connected machines in the hand of consumers by the year 2019. The crime of
hacking into such kind of systems will become more and more common over the coming
period with issues like ransomware or any other issue which was perceived as a key issue
area. There is also some important level of privacy threats as well and as smart devices
usually consist of considerable amount of fragile data, the cyber based criminal can
possible access. As per the research, there are some products that are sold this year and
can already have backdoors installed that any criminal can possibly leverage.
5. Dronejacking: companies and consumers are utilizing drones in new and good ways and
there are cyber criminals that are taking advantage with growing name by hacking into
the current base of technology. The reports also suggest that experts have already seen

the easy way to take over a toy based drone which will go on the roof of the business and
hack into domestic wireless networks (Farraj et al., 2017).
6. Social engineering: the cyber security based technology and preventive measures become
more complicated where criminals will turn any social engineering in an attempt to
completely bypass diverse systems. This will consist of manipulation of multiple kind of
deceiving people into also divulging crucial data or finance based data like phishing
methods.
7. Insider threats: businesses face external as well as internal threats and there is major
chance of cyber security challenges that comes from internally. At the same time, there
are more than two third of people that were malicious and remain incidental because of
inadvertent reasons (Kreps et al., 2017). The latter part is based on many innocent people
who at time accidently permitted the attacker to get information.
8. Machine learning: the concept of machine learning is based on algorithms that are
helping the business to perform all kind of complex data analysis work on high quantities
of data at high speeds with low manual inputs. The usage of technology is based on
detecting any kind of fraud, predicting the overall success of marketing campaigns and
automated consumers with right kind of product suggestion along with many other
applications. At the same time, the research also says that the machine level learning can
be easily leveraged to commit crimes like aiding fraudsters in recognizing high value
targets among large amount of data sets.
9. Mobile malware: with rise in number of people using mobile based devices to perform
everyday business tasks, the likelihood that the cyber criminals will actually attempt to
exploit the overall weakness in the rises of technology.

10. Fake advertisements: customers are constantly bombarded with ads on internet and the
overall proliferation of fake advertisements as well as phishing based attacks that have
eroded to an extreme level of trust in marketing collateral (Fu et al., 2017).
Research Questions/Hypothesis
Primary Question
1. What are different characteristics that impact the cyber security system of business?
Secondary Questions
1. What are the different principles that can be utilized to save the system of the
organization from the current cyber attacks?
2. What is the future of cyber security in organizations?
Research Design and Methodology
Qualitative research
The concept of qualitative research is used to gain detailed understanding of human nature, their
experiences, behavior and overall intention based on varied interpretation as well as
observations. It is based on finding out the method in which may think and feel. In this project,
this form of research will help in understanding the viewpoint of business by using journals, case
study, and other kinds of books for the types of qualitative research.
Quantitative research

The concept quantitative research is a kind of research that depend on the methodology of
natural sciences that manufactures number based data with hard factors. It usually looks at
setting a cause and effect relationship between two elements by utilizing math, computation as
well as statically base methods (Gibbs, 2017). The research is also called as an empirical
research as it can rightly and precisely calculated. The report will focus on aim on dividing
various sections or putting it into ranks since it can be measure in term of single unit of
calculation. With the help of graphs, tables as well as raw information which help in constructing
with assistance of quantitative research making it simpler to evaluate the outcome.
Research Limitations
First thing is that the research is conducted within small period and the time is insufficient for the
researcher to make a detailed observation about the gravity of attack on organizations. It is
better if it was done for longer time. Secondly the overall population for the research is
considerable small since cyber-attack is impacting the world and lakhs of organizations
therefore, hundred companies might not be able to show the major perception. Thirdly, the
design of questionnaire is based on calculating the student approach for the usage of
communication based strategies that might provide a useful data about the influence of
communicative based strategies and it seems not to give right data about the impact and provide
enough information about the actual situations and challenges companies face in cyber security
(Chazan, 2017). Moreover, the assessment of post evaluation was conducted by researcher and it
is completely unavoidable for the study with specific degree of subjectivity that can be found
here.

Time Schedule
Conclusion
Cyber security is slowly becoming a crucial challenge for the business all across the world with
finance and reputation based cost of breaches in data and at the same time also creating a lot of
issues for many unprepared managements (Fu et al., 2017). The technology is also assisting the
company to completely optimize the operations with the help of many innovative methods and
the number of cyber security threats that organization should tackle has also increased.

Reference
Schweer, D. and Sahl, J.C., 2017. The Digital Transformation of Industry–The Benefit for
Germany. In The Drivers of Digital Transformation (pp. 23-31). Springer International
Publishing.
Biancotti, C., 2017. Cyber attacks: preliminary evidence from the Bank of Italy's business
surveys.
Hu, X., Xu, M., Xu, S. and Zhao, P., 2017. Multiple cyber attacks against a target with
observation errors and dependent outcomes: Characterization and optimization. Reliability
Engineering & System Safety, 159, pp.119-133.
Sturm, L.D., Williams, C.B., Camelio, J.A., White, J. and Parker, R., 2017. Cyber-physical
vulnerabilities in additive manufacturing systems: A case study attack on the. STL file with
human subjects. Journal of Manufacturing Systems, 44, pp.154-164.
Musleh, A.S., Khalid, H.M., Muyeen, S.M. and Al-Durra, A., 2017. A Prediction Algorithm to
Enhance Grid Resilience Toward Cyber Attacks in WAMCS Applications. IEEE Systems
Journal.
Turgeman, A., Kedem, O. and Rivner, U., Biocatch Ltd., 2017. Method, device, and system of
generating fraud-alerts for cyber-attacks. U.S. Patent 9,552,470.
Fu, R., Huang, X., Sun, J., Zhou, Z., Chen, D. and Wu, Y., 2017. Stability Analysis of the Cyber
Physical Microgrid System under the Intermittent DoS Attacks. Energies, 10(5), p.680.

Kreps, S.E. and Das, D., 2017. Warring from the Virtual to the Real: Assessing the Public's
Threshold for War on Cyber Security.
Gibbs, S., 2017. Ebay urges users to reset passwords after cyber attacks.
Chazan, D., 2017. France Blocks 24,000 Cyber Attacks Amid Fears that Russia May Try to
Influence French Presidential Election. The Telegraph, 8.
Farraj, A., Hammad, E. and Kundur, D., 2017, April. Impact of Cyber Attacks on Data Integrity
in Transient Stability Control. In Proceedings of the 2nd Workshop on Cyber-Physical Security
and Resilience in Smart Grids (pp. 29-34). ACM.
Zhang, T., Wang, Y., Liang, X., Zhuang, Z. and Xu, W., 2017, May. Cyber attacks in cyber-
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