Challenges in Cyber Security For Business

Running head: CYBER SECURITY 0
Business Research
Challenges in Cyber Security For Business

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Table of Contents
Introduction................................................................................................................................2
Project Objective........................................................................................................................3
Project Scope..............................................................................................................................3
Literature Review.......................................................................................................................4
Conclusion..................................................................................................................................9
References................................................................................................................................10
Appendix..................................................................................................................................14
List of Figures
Figure 1: Number of Unique Mobile Users.............................................................................14
Figure 2: Increase in Financial Consequences of Cyber Attacks.............................................14
Figure 3: Growth in Cyber-attacks on Small and Medium Businesses...................................15
Figure 4: Small Businesses Vulnerability to Cyber attacks.....................................................15
Figure 5: Insider threat Risks...................................................................................................16
Figure 6: Growth in Mobile Malware......................................................................................16

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Introduction
In previous few years, the role of technology has grown substantially between companies
with the increase in the number of internet users and smartphones. Organisations focus on
adopting a digital strategy for their business in order to improve the efficiency and
effectiveness of their operations. The role of the internet has grown in each sector, and it has
enabled people to innovate new products, services and processes for tackling different issues.
However, along with benefits, the risks associated with the internet have increased as well.
According to Genge, Kiss and Haller (2015), the number of cyber-attacks on organisations
and people has increased considerably in past few years. The increase in the number of cyber-
attacks is a serious issue because companies face serious financial and economic
consequences due to the breach of their confidential data. Shackelford (2014) provided that
the growing risk of cyber-attacks has increased the importance of cybersecurity among
companies, and they invest in the latest technologies to protect their data from
cybercriminals. However, corporations face a number of challenges while implementing
cybersecurity policies. This report will focus on challenges faced by corporations regarding
cybersecurity and how cybercriminals use different ways to breach the data of enterprises.
This report will discuss examples of different companies to understand the impact of cyber-
attacks. Further, this report will provide recommendations for companies to improve their
cybersecurity for protecting themselves from cyber-attacks.

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Project Objective
The main objective of this report is to critically evaluate different studies on the topic to
understand the view of experts on challenges faces by companies regarding cybersecurity.
This report will analyse the growing risk of cyber-attacks on companies and evaluate how it
is affecting their profitability. The secondary objective of this report is to provide
recommendations to companies for addressing the challenges faced by them regarding
cybersecurity.
Project Scope
This report will conduct secondary research on the topic of cybersecurity in order to
understand the challenges faced by companies regarding the security of their data. The scope
of this report includes examples from different organisations to understand the risk of cyber-
attacks and how cybercriminals use different tools to breach the data of companies. The
scope of this report will not include primary research on the topic.