Professional Skills in Digital Age: Collaboration Tools, Cloud Storage, Privacy and Security
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This report discusses the importance of information communication technology in businesses and the role of collaboration tools like Slack and Webex, cloud storage and computing, and privacy and security measures. It also analyzes the impact of the pandemic on privacy and security and the cryptocurrency crash. The report provides examples of collaboration tools used by Deliveroo and Boohoo Group Plc and discusses the challenges faced by businesses in maintaining privacy and security during the pandemic.
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Professional Skills in
Digital Age
Digital Age
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Cover page
Title of the report
Name of the course
Name of the University
Submission date
Student ID
Word Count
Abstract
This report is about the information communication technology which is crucial in every
business as it helps them in functioning of businesses effectively. Cloud storage and cloud
computing are important in business operations. Tools of collaboration like Slack , Webex the
businesses in performing the activities of business in efficient manner. Security and privacy are the
essential part for securing the organisation information. The crash of cryptocurrency market is
evident as it the riskiest form of investment.
Title of the report
Name of the course
Name of the University
Submission date
Student ID
Word Count
Abstract
This report is about the information communication technology which is crucial in every
business as it helps them in functioning of businesses effectively. Cloud storage and cloud
computing are important in business operations. Tools of collaboration like Slack , Webex the
businesses in performing the activities of business in efficient manner. Security and privacy are the
essential part for securing the organisation information. The crash of cryptocurrency market is
evident as it the riskiest form of investment.
Table of contents
Table of Contents
1.0 Introduction ...................................................................................................................................4
2.0 Literature Review ............................................................................................................................4
2.1 Collaboration tools................................................................................................................4
2.2 Cloud Storage........................................................................................................................5
2.3 Cloud Computing ..................................................................................................................6
2.4 Privacy and Security...............................................................................................................7
3.1 Collaboration tools................................................................................................................8
3.2 Privacy and Security during pandemic...................................................................................8
3.3 Cryptocurrency Crash............................................................................................................9
4.0 Conclusion .....................................................................................................................................10
5.0 References ....................................................................................................................................11
Table of Contents
1.0 Introduction ...................................................................................................................................4
2.0 Literature Review ............................................................................................................................4
2.1 Collaboration tools................................................................................................................4
2.2 Cloud Storage........................................................................................................................5
2.3 Cloud Computing ..................................................................................................................6
2.4 Privacy and Security...............................................................................................................7
3.1 Collaboration tools................................................................................................................8
3.2 Privacy and Security during pandemic...................................................................................8
3.3 Cryptocurrency Crash............................................................................................................9
4.0 Conclusion .....................................................................................................................................10
5.0 References ....................................................................................................................................11
1.0 INTRODUCTION
Information and Communications Technology (ICT) refers to the technology which
is used for handling the process of communication like, broadcast media,
telecommunications, intelligent systems for management of building, transmission systems
and audiovisual processing and the network based control and functions of monitoring.
Although it is considered as the synonym for IT but its scope is very vast(Naimi-Sadigh,
Asgari and Rabiei, 2022). ICT is used for the describing convergence of different
technologies and use of the common lines of transmission carrying the large data and types
of communication. ICT makes the business more efficient, effective and quick response to
the requirements of the consumers. It helps the activities of the business consisting the
manufacturing, design, R&D, sales,distributions and reviews. Various industries from the
financial services to healthcare to education have used the ICT for building resilience during
the Covid pandemic. Managers of businesses have cited the artificial intelligence and
security of data as the most influential technologies on the performance of the company.
This report mentions the ICT and it role in the business and along with it the various tools
of collaboration and some of their examples are also discussed. Further the discussion on
the cloud storage, cloud computing, privacy and security will be done. In addition the
analysis and discussion on collaboration tools used in businesses, security and privacy in the
pandemic and cryptocurrencies crash is also done.
2.0 LITERATURE REVIEW
2.1 Collaboration tools
According to (Williams and Beam, 2019) Collaboration tools aids the people for
collaborating. The main motive of the collaboration tool is for supporting the group of more
than 2 individuals for accomplishing the common goal which may be either non
technological nature such as flip charts, paper, whiteboards. It also consists of the software
tools and applications like the software of collaborative. They can route the work by the
process, distribute the pieces and used for involving the parties and aiding for coordinating
the activities. Some examples of collaboration tool are-
Google Docs- It is a powerful tool for collaboration. Conventionally collaboration
may be done by the attaching of the documents to the email and send them to the
collaborators. By the use of Googles Docs one requires to have only single copy of
document which is stored in the web. To collaborate one requires to create the
document of google and invite the others as the collaborators. The owner of the
document requires to allocate the tasks to the collaborators so every one of them
knows which part they need to contribute. In the google docs people can work in the
same document in the real time(Christians, 2019).
Skype- It is a instant app messaging and calling and is one of the well known for
collaboration tools for projects. It allows the video and audio among the multiples
devices such as laptop and other on phone. Bringing the team together by group
video calls and give great online presentation with the aid of screen sharing. People
can make free or low costs calls internationally and locally. It helps in staying in
Information and Communications Technology (ICT) refers to the technology which
is used for handling the process of communication like, broadcast media,
telecommunications, intelligent systems for management of building, transmission systems
and audiovisual processing and the network based control and functions of monitoring.
Although it is considered as the synonym for IT but its scope is very vast(Naimi-Sadigh,
Asgari and Rabiei, 2022). ICT is used for the describing convergence of different
technologies and use of the common lines of transmission carrying the large data and types
of communication. ICT makes the business more efficient, effective and quick response to
the requirements of the consumers. It helps the activities of the business consisting the
manufacturing, design, R&D, sales,distributions and reviews. Various industries from the
financial services to healthcare to education have used the ICT for building resilience during
the Covid pandemic. Managers of businesses have cited the artificial intelligence and
security of data as the most influential technologies on the performance of the company.
This report mentions the ICT and it role in the business and along with it the various tools
of collaboration and some of their examples are also discussed. Further the discussion on
the cloud storage, cloud computing, privacy and security will be done. In addition the
analysis and discussion on collaboration tools used in businesses, security and privacy in the
pandemic and cryptocurrencies crash is also done.
2.0 LITERATURE REVIEW
2.1 Collaboration tools
According to (Williams and Beam, 2019) Collaboration tools aids the people for
collaborating. The main motive of the collaboration tool is for supporting the group of more
than 2 individuals for accomplishing the common goal which may be either non
technological nature such as flip charts, paper, whiteboards. It also consists of the software
tools and applications like the software of collaborative. They can route the work by the
process, distribute the pieces and used for involving the parties and aiding for coordinating
the activities. Some examples of collaboration tool are-
Google Docs- It is a powerful tool for collaboration. Conventionally collaboration
may be done by the attaching of the documents to the email and send them to the
collaborators. By the use of Googles Docs one requires to have only single copy of
document which is stored in the web. To collaborate one requires to create the
document of google and invite the others as the collaborators. The owner of the
document requires to allocate the tasks to the collaborators so every one of them
knows which part they need to contribute. In the google docs people can work in the
same document in the real time(Christians, 2019).
Skype- It is a instant app messaging and calling and is one of the well known for
collaboration tools for projects. It allows the video and audio among the multiples
devices such as laptop and other on phone. Bringing the team together by group
video calls and give great online presentation with the aid of screen sharing. People
can make free or low costs calls internationally and locally. It helps in staying in
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touch with the people all over the globe for free with the video and voice calls, text
messages and sharing of the screen. Slack- It is the team work foundation and sharing of understanding in the team. It aids
in communicating and collaborating without emails by the setting of standard for the
online communication in team. It aids in finding the answers, streamlines the flow of
work etc. Slack ahas build a platform for having team conversion, taking decisions
and putting the knowledge in the hands of everyone. They have a open API for
keeping the team in coordination and work faster within the conversion context. It
helps in collaborating with any tool like laptop, smartphone or tablet.
Advantages
Flexibility- Collaborating tools with the digital tools gives the flexibility. With it the
team may work any where from anywhere. Mobile applications allow for easy and
quick check ins even when the workers is away from the system. Productivity- Collaborative tools contributes to the productivity and allows the
enhanced flexibility in work. Good communication tools are the vital element of the
online collaboration increases the productivity(Huda, 2018).
Disadvantages
Delayed responses- Collaboration tools have resulted in delayed responses as for
even small things they have to use the tools whereas manual queries are solved easily.
Security- Collaboration tools faces the issues of cybersecurity like theft of data,
malware, hackers and identity of theft. Unauthorised guests might get access to the
platforms of collaboration, spaces and tools and impersonating the members of team
or making away with the confidential data.
2.2 Cloud Storage
According to (Song, 2018) Cloud storage refers to the model of cloud computing
which stores data on internet by the provider cloud computing managing and operating data
storage as the service. It is delivered on the demand with the capacity of time and costs and
eliminating of the buying and managing the storage of data infrastructure. It provides with the
durability, agility and global scale with anywhere and anytime access to data. It is
purchased from the third party vendor cloud who owns and operates the storage of data
capacity, security and durability for making data accessible to the applications all around the
globe. Access to the application cloud storage by the conventional protocols of storage or
direct by the API. Various vendor offers the complementary services which are designed for
aiding to collect, secure, manage and analyse the data at big scale.
messages and sharing of the screen. Slack- It is the team work foundation and sharing of understanding in the team. It aids
in communicating and collaborating without emails by the setting of standard for the
online communication in team. It aids in finding the answers, streamlines the flow of
work etc. Slack ahas build a platform for having team conversion, taking decisions
and putting the knowledge in the hands of everyone. They have a open API for
keeping the team in coordination and work faster within the conversion context. It
helps in collaborating with any tool like laptop, smartphone or tablet.
Advantages
Flexibility- Collaborating tools with the digital tools gives the flexibility. With it the
team may work any where from anywhere. Mobile applications allow for easy and
quick check ins even when the workers is away from the system. Productivity- Collaborative tools contributes to the productivity and allows the
enhanced flexibility in work. Good communication tools are the vital element of the
online collaboration increases the productivity(Huda, 2018).
Disadvantages
Delayed responses- Collaboration tools have resulted in delayed responses as for
even small things they have to use the tools whereas manual queries are solved easily.
Security- Collaboration tools faces the issues of cybersecurity like theft of data,
malware, hackers and identity of theft. Unauthorised guests might get access to the
platforms of collaboration, spaces and tools and impersonating the members of team
or making away with the confidential data.
2.2 Cloud Storage
According to (Song, 2018) Cloud storage refers to the model of cloud computing
which stores data on internet by the provider cloud computing managing and operating data
storage as the service. It is delivered on the demand with the capacity of time and costs and
eliminating of the buying and managing the storage of data infrastructure. It provides with the
durability, agility and global scale with anywhere and anytime access to data. It is
purchased from the third party vendor cloud who owns and operates the storage of data
capacity, security and durability for making data accessible to the applications all around the
globe. Access to the application cloud storage by the conventional protocols of storage or
direct by the API. Various vendor offers the complementary services which are designed for
aiding to collect, secure, manage and analyse the data at big scale.
Advantages
Total ownership cost- Along with the cloud storage there is no hardware for
purchase, provision of storage. You may add or remove the capacity on the demand,
fast change the performance.
Time for development- Centralized storage in cloud creates the leverage for new use
cases. By the use of cloud storage policies of management you may perform the
powerful tasks of information management consisting of automated tiering and data
locking(Jackson, 2019).
Disadvantages
Connection of storage- It is completely dependent on the internet connection. If the
network is slow there may be issues for accessing the storage.
Costs- There are many costs for the uploading and downloading of files from
cloud,they add up if access of many files is needed often.
Ways for using cloud storage-
Backup and recovery- It is the significant part of data ensuring for protection and
access by keeping with the increase in the requirements of the capacity which may
be a challenge. Cloud storage brings the cost at low, high durability and extreme
scale for backing and recovery solutions. Embedded policies of data management
such as Amazon S3 Object Lifecycle Management can migrate data automatically for
lowering the cost tiers which is based on the time or frequency.
Software test and development- Environment of software test and development
needs the independent, separate and duplicate storage environments for building,
managing and recommissioning. Further the times needed to up front investment the
cost of capital may be extensive. Many big companies in the world have made
applications in record time for by flexibility leveraging, low cost and performance.
Static websites may be improved at very low cost. Developers in entire world are
offering storage options which remove the management and scaling issues.
2.3 Cloud Computing
According to (Smith and Browne, 2021) Cloud computing refers to the delivery of
the devices of computing including the servers, databases, storage, networking, software,
intelligence, analytics on the internet for offering the fast innovation, flexible resources and
scale economies. Payment for the services for use, aiding low costs of operations,
infrastructure functioning more efficiently and scale as the business requires change.
Advantages
Speed- Services of cloud computing are given self service and on the demand, the
large amount of resources can be done in minutes by providing businesses flexibility
and taking off the pressure of planning of capacity.
Performance- It runs on the global scale network of secure data centres which are
constantly updated to fast and efficient computer hardware.
Total ownership cost- Along with the cloud storage there is no hardware for
purchase, provision of storage. You may add or remove the capacity on the demand,
fast change the performance.
Time for development- Centralized storage in cloud creates the leverage for new use
cases. By the use of cloud storage policies of management you may perform the
powerful tasks of information management consisting of automated tiering and data
locking(Jackson, 2019).
Disadvantages
Connection of storage- It is completely dependent on the internet connection. If the
network is slow there may be issues for accessing the storage.
Costs- There are many costs for the uploading and downloading of files from
cloud,they add up if access of many files is needed often.
Ways for using cloud storage-
Backup and recovery- It is the significant part of data ensuring for protection and
access by keeping with the increase in the requirements of the capacity which may
be a challenge. Cloud storage brings the cost at low, high durability and extreme
scale for backing and recovery solutions. Embedded policies of data management
such as Amazon S3 Object Lifecycle Management can migrate data automatically for
lowering the cost tiers which is based on the time or frequency.
Software test and development- Environment of software test and development
needs the independent, separate and duplicate storage environments for building,
managing and recommissioning. Further the times needed to up front investment the
cost of capital may be extensive. Many big companies in the world have made
applications in record time for by flexibility leveraging, low cost and performance.
Static websites may be improved at very low cost. Developers in entire world are
offering storage options which remove the management and scaling issues.
2.3 Cloud Computing
According to (Smith and Browne, 2021) Cloud computing refers to the delivery of
the devices of computing including the servers, databases, storage, networking, software,
intelligence, analytics on the internet for offering the fast innovation, flexible resources and
scale economies. Payment for the services for use, aiding low costs of operations,
infrastructure functioning more efficiently and scale as the business requires change.
Advantages
Speed- Services of cloud computing are given self service and on the demand, the
large amount of resources can be done in minutes by providing businesses flexibility
and taking off the pressure of planning of capacity.
Performance- It runs on the global scale network of secure data centres which are
constantly updated to fast and efficient computer hardware.
Disadvantages
Limited control- The services provider owns and manages the infrastructure of
cloud. So consumers will have the less control over the cloud( Li and Chan, 2019) .
Cloud downtime- Like any other setup of IT the cloud computing also has many
issues like network outages, reboots and downtime and impact the operations of
business.
Uses of cloud computing-
Test and build the applications- It decreases the cost of developing the application
and time also by the use of cloud infrastructure which can be easily scaled.
Analysing the data- Unification of the data across the teams, locations, divisions in
cloud. Then use the services of cloud like machine learning and artificial
intelligences for uncovering the insights for informed decisions.
2.4 Privacy and Security
According to (Shaughnessy, 2018) Security refers to the data safeguarding,
meanwhile privacy is about the safeguarding of identity of user. The difference are
complicated and overlap among the two. Security refers to the protection against the
unauthorised data access. Control of security in place for limit for accessing the data.
Privacy is very hard for define as user details can be secure. Privacy and security are
interrelated as privacy relates to the rights for controlling the personal info and its use
whereas security is how the personal info is safeguarded.
Importance
For progress and business success- Privacy and security plays a vital role in growth
and success of business as access to data gets easily. Privacy and security controls
the data from going in bad hands and pay attention to business.
Safeguards from the misuse of data- Privacy and security in business provides the
protection from any misuse(Mariani and Wamba, 2020). As misuse can impact the
brand image. But Privacy and security gives relief by safeguarding it.
Challenges which the businesses face-
Cost of maintaining the data- Data breaches can cost businesses a lot. If the firms
data is breached then they may face intense penalties from the entitles array. So
firms should make investments in key technologies like archiving of data and
backup.
Number of open vulnerabilities- Increase in the vulnerabilities is leading to the
record breaking breaches in the businesses. For the IT administrator it is becoming
overwhelming for managing the patches. It is important for establishing the
patch management process.
Limited control- The services provider owns and manages the infrastructure of
cloud. So consumers will have the less control over the cloud( Li and Chan, 2019) .
Cloud downtime- Like any other setup of IT the cloud computing also has many
issues like network outages, reboots and downtime and impact the operations of
business.
Uses of cloud computing-
Test and build the applications- It decreases the cost of developing the application
and time also by the use of cloud infrastructure which can be easily scaled.
Analysing the data- Unification of the data across the teams, locations, divisions in
cloud. Then use the services of cloud like machine learning and artificial
intelligences for uncovering the insights for informed decisions.
2.4 Privacy and Security
According to (Shaughnessy, 2018) Security refers to the data safeguarding,
meanwhile privacy is about the safeguarding of identity of user. The difference are
complicated and overlap among the two. Security refers to the protection against the
unauthorised data access. Control of security in place for limit for accessing the data.
Privacy is very hard for define as user details can be secure. Privacy and security are
interrelated as privacy relates to the rights for controlling the personal info and its use
whereas security is how the personal info is safeguarded.
Importance
For progress and business success- Privacy and security plays a vital role in growth
and success of business as access to data gets easily. Privacy and security controls
the data from going in bad hands and pay attention to business.
Safeguards from the misuse of data- Privacy and security in business provides the
protection from any misuse(Mariani and Wamba, 2020). As misuse can impact the
brand image. But Privacy and security gives relief by safeguarding it.
Challenges which the businesses face-
Cost of maintaining the data- Data breaches can cost businesses a lot. If the firms
data is breached then they may face intense penalties from the entitles array. So
firms should make investments in key technologies like archiving of data and
backup.
Number of open vulnerabilities- Increase in the vulnerabilities is leading to the
record breaking breaches in the businesses. For the IT administrator it is becoming
overwhelming for managing the patches. It is important for establishing the
patch management process.
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3.0 Analysis and Discussion
3.1 Collaboration tools
2 tools for collaboration may be used at the place of work with example of Deliveroo
and Boohoo Group Plc stated below- Slack- Deliveroo which is the firm of UK of food delivery service for keeping the
remote and work force distribution connected by the businesses process. Slack offers
the various application software which aids integration of work force on remote basis
in a effective way. Other example of using Slack is use by Airbnb where it aids the
executives integrates with the 3rd party in a strategic way. Huddles of Slacks are act as
the alternative for video calls as it gives great experience to the executives of firm
while interaction with employees and external clients.
Webex – It allows the firms for making changes in the communication and
strengthen of relationship of business. It aids the executives for transferring the files
and remove the unauthorised attendees for attending meeting. Webex also offers the
characteristics like sharing of screen recording of cloud and storage. It gives the
features such as digital whiteboarding aiding the executives in presentation while
working remotely. For ex- executives of Boohoo Group Plc uses the Webex for
organizing the meetings for discussion the design. It has aided them in effectively in
covid pandemic while working remotely.
3.2 Privacy and Security during pandemic
Internet is the tools which helps in creation of vibrant market for various transactions
of trading in proper way. It is used for its innovative characteristics like platforms of
environment, by keeping informed about changes in world. But there are many challenges
to businesses and people by which the criminals may attack the organisations data. Here are
some challenges-
Phishing attacks- It is the practice where the attackers send the fraud info by
the use of a reputed brand. They affect the operations of the business
negatively which includes the money loss, confidential data, intellectual
property and obstructions in operations. Many firms in the world are
impacted due to data breach which is streamlined by phishing attacks. But the
attacks may be done by the employees as they are fully aware about working
of business. For ex- the website of British Airways has been diverted in a
fraud site by attackers. By this the personal data of the 5000 consumers were
harvested by attackers.
Weak passwords- It is the biggest threat for the firms as it invites the criminals
to attack on system and steal the confidential data. It is becoming problematic
for relying on the weak passwords for maintenance of the security. It have
become very easy for developing and remembering the various passwords for
different accounts with aid of virtual aspects. Simple and weak passwords
pose as the breach of data, take over of account and attacks. For ex-
Deliveroo may face this kind of attack while the operations. By this the
confidential data may be stolen and use for wrong practices.
3.1 Collaboration tools
2 tools for collaboration may be used at the place of work with example of Deliveroo
and Boohoo Group Plc stated below- Slack- Deliveroo which is the firm of UK of food delivery service for keeping the
remote and work force distribution connected by the businesses process. Slack offers
the various application software which aids integration of work force on remote basis
in a effective way. Other example of using Slack is use by Airbnb where it aids the
executives integrates with the 3rd party in a strategic way. Huddles of Slacks are act as
the alternative for video calls as it gives great experience to the executives of firm
while interaction with employees and external clients.
Webex – It allows the firms for making changes in the communication and
strengthen of relationship of business. It aids the executives for transferring the files
and remove the unauthorised attendees for attending meeting. Webex also offers the
characteristics like sharing of screen recording of cloud and storage. It gives the
features such as digital whiteboarding aiding the executives in presentation while
working remotely. For ex- executives of Boohoo Group Plc uses the Webex for
organizing the meetings for discussion the design. It has aided them in effectively in
covid pandemic while working remotely.
3.2 Privacy and Security during pandemic
Internet is the tools which helps in creation of vibrant market for various transactions
of trading in proper way. It is used for its innovative characteristics like platforms of
environment, by keeping informed about changes in world. But there are many challenges
to businesses and people by which the criminals may attack the organisations data. Here are
some challenges-
Phishing attacks- It is the practice where the attackers send the fraud info by
the use of a reputed brand. They affect the operations of the business
negatively which includes the money loss, confidential data, intellectual
property and obstructions in operations. Many firms in the world are
impacted due to data breach which is streamlined by phishing attacks. But the
attacks may be done by the employees as they are fully aware about working
of business. For ex- the website of British Airways has been diverted in a
fraud site by attackers. By this the personal data of the 5000 consumers were
harvested by attackers.
Weak passwords- It is the biggest threat for the firms as it invites the criminals
to attack on system and steal the confidential data. It is becoming problematic
for relying on the weak passwords for maintenance of the security. It have
become very easy for developing and remembering the various passwords for
different accounts with aid of virtual aspects. Simple and weak passwords
pose as the breach of data, take over of account and attacks. For ex-
Deliveroo may face this kind of attack while the operations. By this the
confidential data may be stolen and use for wrong practices.
Measures undertaken by businesses
Training employees in effective manner- The most common by criminals
may access the data of firm from its employees. It is essential for managers to
provide training to the employees in strategic way for avoiding the attacks
and breach of data. It is desirable for using the common sense before clicking
any link. For ex- British Airways must be given effective training for the data
avoiding the breaches of data in operations(Palaiologou and Gray, 2019).
Keeping the software up to date- Criminals are tend to found the firms
weaknesses if they not opt the software update. It is essential for the
managers if the organisation to keep the software update for safeguarding the
system from attack.
Backing up of the data- In cyber attack information must be backed up with
preventive measures for avoiding the down and loss. For ex- Deliveroo
executives keep the data backup in strategic way aiding for avoiding loss in
cyber attacks.
3.3 Cryptocurrency Crash
Cryptocurrency refers to the virtual currency which is used as the form of alternative
payment. It is created by the use of encrypted algorithms. Encryption technology enables for
cryptocurrencies to work as currency and system of digital accounting. These are not
controlled and regulated by any of the statuary body but uses the decentralised system for the
transactions recording. In the financial industry the crash is known as where the asset remain
stable for the long time period and grow constantly when the cost skyrockets. But the crash
is known as the asset price drop in comparison to its rise. The main cause of this crash is that
cryptocurrencies is the high risk investment for the investors as the businesses are very slow
in the process of opting the procedures of blockchain(Risam, 2018) . Even the government of
different nations don't allow the cryptocurrencies as the systems of payment as it is risky
source and may lend the economy of the country to verge.
Tether is the multi million dollar coin which was the largest bank in the economy of
the cryptocurrency has taken out the cash in June because of market crash. It is the evident
example of crash where the cryptocurrency has drastically decreased in prices because of
crash in market. Tether is the example for cryptocurrencies crash. It has been seen that the
various other cryptocurrency such as Ethereum, Bitcoin are facing down fall in the price
from last year. For ex- Bitcoin has been falling from $26,000 from last year to $15000. Even
the platforms of exchanges helping in the transactions and portal availability are used for the
record valuations has put the performance of market in tough(Pourmand and et, al., 2021).
Coins which are stable are the source for crypto world covering the big share in
volumes of trading of the assets. Tokens are the main medium used for exchanging the
payments, lending purpose etc. which are based on the technology of block chain.
Training employees in effective manner- The most common by criminals
may access the data of firm from its employees. It is essential for managers to
provide training to the employees in strategic way for avoiding the attacks
and breach of data. It is desirable for using the common sense before clicking
any link. For ex- British Airways must be given effective training for the data
avoiding the breaches of data in operations(Palaiologou and Gray, 2019).
Keeping the software up to date- Criminals are tend to found the firms
weaknesses if they not opt the software update. It is essential for the
managers if the organisation to keep the software update for safeguarding the
system from attack.
Backing up of the data- In cyber attack information must be backed up with
preventive measures for avoiding the down and loss. For ex- Deliveroo
executives keep the data backup in strategic way aiding for avoiding loss in
cyber attacks.
3.3 Cryptocurrency Crash
Cryptocurrency refers to the virtual currency which is used as the form of alternative
payment. It is created by the use of encrypted algorithms. Encryption technology enables for
cryptocurrencies to work as currency and system of digital accounting. These are not
controlled and regulated by any of the statuary body but uses the decentralised system for the
transactions recording. In the financial industry the crash is known as where the asset remain
stable for the long time period and grow constantly when the cost skyrockets. But the crash
is known as the asset price drop in comparison to its rise. The main cause of this crash is that
cryptocurrencies is the high risk investment for the investors as the businesses are very slow
in the process of opting the procedures of blockchain(Risam, 2018) . Even the government of
different nations don't allow the cryptocurrencies as the systems of payment as it is risky
source and may lend the economy of the country to verge.
Tether is the multi million dollar coin which was the largest bank in the economy of
the cryptocurrency has taken out the cash in June because of market crash. It is the evident
example of crash where the cryptocurrency has drastically decreased in prices because of
crash in market. Tether is the example for cryptocurrencies crash. It has been seen that the
various other cryptocurrency such as Ethereum, Bitcoin are facing down fall in the price
from last year. For ex- Bitcoin has been falling from $26,000 from last year to $15000. Even
the platforms of exchanges helping in the transactions and portal availability are used for the
record valuations has put the performance of market in tough(Pourmand and et, al., 2021).
Coins which are stable are the source for crypto world covering the big share in
volumes of trading of the assets. Tokens are the main medium used for exchanging the
payments, lending purpose etc. which are based on the technology of block chain.
Ethereum is the the most dominating cryptocurrency in the market which is on
verge of exploding and crash. Virtual currency which is high volatile and keep investment of
investors at risk.
But the market analyst has supposed that Bitcoin rise and fall in prices are not
considered as the crash as it remains at verge of inflation. Bitcoin is tagged as the safest as
its adoption is increasing in vital way. Ethereum do nor exist the fixed supply as
cryptocurrency crash has keep the resource scarce.
4.0 CONCLUSION
The above report concludes that ICT plays a vital role in transforming the operations
of business in virtual one. Tools of collaboration are the important as it helps the executive
for solving the complicated issues and help in working on remote. Internet gives various
innovative characteristics by giving entertainment providing, large data access etc. But it is
the causes of various security and issues of privacy for the firms like attacks of phishing,
weak passwords. Cyber attack is the deliberate system exploitation and networks. Cloud
computing is related with the giving of various servers and networks to the firms for
information assimilating. Cloud storage is related as the important for the firm for keeping
data backup in a strategical way. Cryptocurrencies are the risky market where the investments
are to be done by the critical evaluation.
verge of exploding and crash. Virtual currency which is high volatile and keep investment of
investors at risk.
But the market analyst has supposed that Bitcoin rise and fall in prices are not
considered as the crash as it remains at verge of inflation. Bitcoin is tagged as the safest as
its adoption is increasing in vital way. Ethereum do nor exist the fixed supply as
cryptocurrency crash has keep the resource scarce.
4.0 CONCLUSION
The above report concludes that ICT plays a vital role in transforming the operations
of business in virtual one. Tools of collaboration are the important as it helps the executive
for solving the complicated issues and help in working on remote. Internet gives various
innovative characteristics by giving entertainment providing, large data access etc. But it is
the causes of various security and issues of privacy for the firms like attacks of phishing,
weak passwords. Cyber attack is the deliberate system exploitation and networks. Cloud
computing is related with the giving of various servers and networks to the firms for
information assimilating. Cloud storage is related as the important for the firm for keeping
data backup in a strategical way. Cryptocurrencies are the risky market where the investments
are to be done by the critical evaluation.
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5.0 REFERENCES
Christians, C.G., 2019. Media ethics and global justice in the digital age. Cambridge
University Press.
Huda, M., 2018. Empowering application strategy in the technology adoption: insights from
professional and ethical engagement. Journal of Science and Technology Policy
Management.
Jackson, N.C., 2019. Managing for competency with innovation change in higher education:
Examining the pitfalls and pivots of digital transformation. Business
Horizons, 62(6), pp.761-772.
Li, T.C. and Chan, Y.E., 2019. Dynamic information technology capability: Concept
definition and framework development. The Journal of Strategic Information
Systems, 28(4), p.101575.
Mariani, M.M. and Wamba, S.F., 2020. Exploring how consumer goods companies innovate
in the digital age: The role of big data analytics companies. Journal of Business
Research, 121, pp.338-352.
Naimi-Sadigh, A., Asgari, T. and Rabiei, M., 2022. Digital transformation in the value chain
disruption of banking services. Journal of the Knowledge Economy, 13(2), pp.1212-
1242.
Palaiologou, I. and Gray, C., 2019. Early Learning in the digital age. Early Learning in the
Digital Age, pp.1-248.
Pourmand, A., and et, al., 2021. Lack of telemedicine training in academic medicine: are we
preparing the next generation?. Telemedicine and e-Health, 27(1), pp.62-67.
Risam, R., 2018. New digital worlds: Postcolonial digital humanities in theory, praxis, and
pedagogy. Northwestern University Press.
Shaughnessy, H., 2018. Creating digital transformation: strategies and steps. Strategy &
Leadership.
Smith, B. and Browne, C.A., 2021. Tools and weapons: The promise and the peril of the
digital age. Penguin.
Song, Y., 2018. Improving primary students’ collaborative problem solving competency in
project-based science learning with productive failure instructional design in a
seamless learning environment. Educational Technology Research and
Development, 66(4), pp.979-1008.
Williams, C. and Beam, S., 2019. Technology and writing: Review of research. Computers &
education, 128, pp.227-242.
Christians, C.G., 2019. Media ethics and global justice in the digital age. Cambridge
University Press.
Huda, M., 2018. Empowering application strategy in the technology adoption: insights from
professional and ethical engagement. Journal of Science and Technology Policy
Management.
Jackson, N.C., 2019. Managing for competency with innovation change in higher education:
Examining the pitfalls and pivots of digital transformation. Business
Horizons, 62(6), pp.761-772.
Li, T.C. and Chan, Y.E., 2019. Dynamic information technology capability: Concept
definition and framework development. The Journal of Strategic Information
Systems, 28(4), p.101575.
Mariani, M.M. and Wamba, S.F., 2020. Exploring how consumer goods companies innovate
in the digital age: The role of big data analytics companies. Journal of Business
Research, 121, pp.338-352.
Naimi-Sadigh, A., Asgari, T. and Rabiei, M., 2022. Digital transformation in the value chain
disruption of banking services. Journal of the Knowledge Economy, 13(2), pp.1212-
1242.
Palaiologou, I. and Gray, C., 2019. Early Learning in the digital age. Early Learning in the
Digital Age, pp.1-248.
Pourmand, A., and et, al., 2021. Lack of telemedicine training in academic medicine: are we
preparing the next generation?. Telemedicine and e-Health, 27(1), pp.62-67.
Risam, R., 2018. New digital worlds: Postcolonial digital humanities in theory, praxis, and
pedagogy. Northwestern University Press.
Shaughnessy, H., 2018. Creating digital transformation: strategies and steps. Strategy &
Leadership.
Smith, B. and Browne, C.A., 2021. Tools and weapons: The promise and the peril of the
digital age. Penguin.
Song, Y., 2018. Improving primary students’ collaborative problem solving competency in
project-based science learning with productive failure instructional design in a
seamless learning environment. Educational Technology Research and
Development, 66(4), pp.979-1008.
Williams, C. and Beam, S., 2019. Technology and writing: Review of research. Computers &
education, 128, pp.227-242.
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