Significance of Cyber Security in Business: A Case Study on Retail Industry

This presentation explores the significance of cyber security in the retail industry, including the impact of cyber security incidents and challenges faced by e-commerce. It also provides strategies for minimizing the probability of future cyber attacks.

Research Project

Table of content
• Introduction
• Background of research
• Research aims and objectives
• Literature review
• Research methodology
• Research findings
• Conclusion
• Recommendation

Introduction
Cyber Security implies practice to defend servers,
electronic systems, mobile devices, etc. from malicious
attacks. As per the statistics, it has been identified
various cyber attacks have been carried out in 2020
across United Kingdom which have created adverse
impact on overall operations of firm. E-commerce is
online retail shopping that is carried out by customers
through usage of websites, mobile apps, chats and many
other.

Background of Research
The rationale behind execution of cyber security is to render enhanced security posture for
networks, servers, mobile devices, data and computers from attackers who have one or other
malicious intent. The study is conducted to identify impact and a different strategy to ensure
that organisation along with individuals whose information is stored is protected. Across UK,
it has been found that near around 36.6 million records have been breached which is a large
number. This makes it more important that individuals along with firms like Retail industry
takes essential steps through which the overall pessimistic impact cannot be eradicated.

Research Aims
“To analyse the significance of cyber security in business.” A
case study on Retail industry.

Research Objectives
• To determine the impact of cyber security incidents to retail industry.
• To ascertain challenges encountered by e-commerce as a result of cyber security
attack.
• To formulate strategies for minimising the probability of occurrence of future
cyber attacks for ecommerce sites.

Literature review
To determine the impact of cyber security incidents to retail industry
Cyber security implies process or state to protect as well as recover programs,
networks and devices from certain kind of cyber attacks. They evolve danger to
consumers, organisation and employees and are being designed for assessing or
destroying sensitive information as well as it might be for extortion of money.
This further leads to create a pessimistic impact on businesses along with this
personal lives of individuals will also be hampered like identity theft.

Continue
• To ascertain challenges encountered by Retail industry as a result of
cyber security attack.
The assault that is being launched via cybercriminals through usage of one
or more systems against a network is defined as cyber attack. It is liable
for maliciously disabling computers, use breached systems like a launch
point for carrying out attacks or steal data.Wide range of attacks are
carried out in order to attain details about individuals.

Continue
• To formulate strategies for minimising the probability of occurrence of
future cyber attacks on Retail industry.
It is identified that various firms are prone to cyber attacks due to the reason that
weak or poor measures are being taken up by them. Organisation like Retail
industry goes through various challenges within market and for dealing with
them it is necessary to handle plans as well as implement them for attaining
security.

Research Methodology
• It is important for investigator to opt for relevant way through which study can
be conducted within carrying out reliable as well as valid outcome when
investigation has been carried out. In this aspect, qualitative and quantitative
examination is conducted. The researcher have opted for quantitative methods
depending on scientific information.

Research findings
• THEME 1: : Concept of cyber attack
Q 1) Are you aware about cyber attack concept? Frequency
a) Yes 21
b) No 9
a) Yes
b) No
0
5
10
15
20
25 21
9

Different types of cyber attacks
Q 4) What kind of cyber security attacks is usually carried out in e-
commerce?
Frequency
a) Phishing 2
a) Denial of service attack 7
a) Viruses, malware and worms 5
a) Botnets 2
a) Identity theft 3
a) All of the above 11
a)
Phishing
b)
Denial of
service
attack
c)
Viruses,
malware
and
worms
d)
Botnets
e)
Identity
theft
f) All
of the
above
0
2
4
6
8
10
12
2
7
5
2
3
11

Surety about security of e-commerce sites
Q 15). How to ensure that e-commerce websites are secured? Frequency
a) Checking domain 11
a) Details of the organisation 4
a) Go for trusted service providers 15
a) Checking
domain
b) Details of the
organisation
c) Go for trusted
service
providers
0
2
4
6
8
10
12
14
16
11
4
15

Conclusion
Most valuable asset for a individuals as well as organisation is to possess relevant
information . This is necessary that this asset must be maintained so that they can conduct
their functionalities in an appropriate manner. Thus, is apt to take appropriate measures
through which this aspect can be ensured like authenticating user as well as domain of
website, making use of software like firewall, anti-virus and many others. This ill enable
them within ensuring that the transactions that are carried out by them are secured.

Recommendation
It is recommended that relevant software's are used so that unauthenticated and
malicious downloads can be blocked directly. Furthermore, while making ay
transactions the domain name must be verified and cross checked minutely so that
user may not land into phishing page.

Thank-You