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HI6008 Business Research | Challenges in Cyber Security

   

Added on  2020-03-03

13 Pages2970 Words18 Views
Running head: CHALLENGES IN CYBER SECURITY FOR BUSINESSChallenges in cyber security for businessName of the Student:Name of the University:Author note:

1CHALLENGES IN CYBER SECURITY FOR BUSINESSTable of ContentsIntroduction................................................................................................................................2Project objective.........................................................................................................................2Project scope..............................................................................................................................2Literature review........................................................................................................................3Conclusion..................................................................................................................................9References................................................................................................................................10Appendix..................................................................................................................................12

2CHALLENGES IN CYBER SECURITY FOR BUSINESSIntroductionCyber security has become an important issue for business worldwide with financialas well as reputational cost of the data braches that create a critical headache for managementof a business organization. On the other hand, while technology is assisting the businessorganizations in order to optimize operations through several innovative procedures, thenumber of cyber security threats increases. The present study explores the objective of doingthe project and scope of the project in present and future circumstances. In addition,literatures from several books, journals, articles and websites are reviewed in the study thathelps to get an appropriate conclusion from the study. Project objective Objectives of the project can be listed as followed.To identify different types of cyber security in businessTo critically analyze how cyber threats impact on businessTo scrutinize the challenges faced by the organizations to tackle cyber securityTo recommend solutions for overcoming the challengesProject scopeAs cyber security becomes one of the major focal points about security risks faced bythe business organizations in twenty-first century, the project would be helpful to find out thefactors responsible for cyber security issues in the business organization. It also helps theorganization to take necessary measures to minimize the cyber security issues in the business.On the other hand, researching on the same topic can get effective information regarding thetopic. Moreover, the staffs of the business organization can be aware regarding the issues and

3CHALLENGES IN CYBER SECURITY FOR BUSINESSfamiliar with the use as well as cyber security laws published by the government andagencies to be safe and secured on internet. Literature reviewThe Global Risks 2015 report published by World Economic Forum (WEF) statedthat there are 90% of enterprises worldwide recognize that they are not adequately preparedfor protecting themselves against cyber attacks (Van den Berg et al. 2014). There is 50%small business respondents stated that they had data breaches that focused client andemployee information. Being customer, it is required to consider the measure of informationthat is sharing with the organizations. In online purchase, the business is probably going tohave a record of your email address, the place of residence; telephone number and possiblypayment information can be leaked.Liu and Wong (2017) stated that cybercrime harms are expected to cost the world $6trillion by 2021, while organizations and government foundations are scrambling to ensurethemselves. By 2019, IT specialists predict a cyber security aptitudes deficiency of almost 1.5million open occupations. Perceiving the requirement for gifted experts in the field, Northcentral University propelled the Master of Science in Technology and InnovationManagement program, had practical experience in Cyber security (Elmaghraby and Losavio2014). With the cyber security field developing, there will be a requirement for peopleprepared to oversee dangers, alongside fundamental initiative aptitudes expected to overseegroups of capable cyber security experts. Take in more about the Cyber security degreeprograms at NCU.Tisdale (2015) stated that there are several types of attack faced by the organization inbusiness such as ransomware, distributed denial of service (DDoS) attacks, hacktivism,insider threats, fake ads and feedback.

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