Cyber Attacks in Corporation - Report

Added on - 28 May 2020

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Running head: RESEARCHResearch Methodology 2Institution NameStudent NameContents
RESEARCH2Contents.......................................................................................................................................................2Introduction.................................................................................................................................................3Project Objectives........................................................................................................................................3Project Scope...............................................................................................................................................3Literature Review........................................................................................................................................4Justification.............................................................................................................................................5Literature problems.................................................................................................................................6Gaps........................................................................................................................................................6Opportunities...........................................................................................................................................6Hypothesis...............................................................................................................................................6Research Questions.....................................................................................................................................6Research Design and Methodology.............................................................................................................6Time Schedule.............................................................................................................................................8Conclusion...................................................................................................................................................9References.................................................................................................................................................10Appendix...................................................................................................................................................11IntroductionThe introduction of digital technology has resulted in a rise in the use of smartphones as well asonline services used by people and corporations. The use of smartphones has made it easier to2|P a g e
RESEARCH3access internet and online services by people. The use of internet-based services varies fromassisting in performing operations such as banking, entertainment, communication, shopping andothers not mentioned. Modern companies have developed techniques to utilize this platform tooffer their product and services directly to the consumers. With this, the use of intermediaries hasbeen drastically reduced resulting in lower operations cost. Despite the advantages brought byinternet and smartphones, its increasing popularity is posing a threat to individuals andcorporations. There has been an emergence of cybercriminals who attack companies andindividuals to gain an unfair advantage. The remedy to this is the need for a cybersecuritysoftware. In this research will concentrate on identifying and evaluating the challenges thatcybersecurity has brought to the modern companies as well as individuals relying on the use ofinternet-based services. Afterwards, it will give a few recommendations that can assist minimizethe issues identified.Project ObjectivesThe primary objective of the research is to evaluate the challenges that the modern companiesface regarding cybersecurity as the use of the internet as well as online-based services goes up.Afterwards will conduct a literature review on the topic. The research will use information fromcompanies that have faced cybercrime to understand and expound on the problem. Thesecondary target will then be to offer recommendations that can help firms enhance theircybersecurity.Project ScopeOne of the areas the report will cover is the vulnerability of corporations to cyber-attacks as wellas the problems they face from the occurrence of cyber-attacks. The report will use varioustheories that have been designed by researchers on the issue, also, will illustrate severalrecommendations that canna assists fight cyber-crime.Literature ReviewThe past decade has seen the use of internet and online services grow tremendously amongmodern firms hence enabling provision of services via online platforms[CITATION Len10 \l 2057 ].The increasing popularity has been a significant contributor to the growth of internet use as italso attracts companies online. Modern businesses rely on online platforms to perform several3|P a g e
RESEARCH4operations like recruitment, conducting surveys as well as customer interaction[CITATION Hol13 \l2057 ]. The use of internet has given small-scale entrepreneurs an equal opportunity to interactwith the potential clients.There are firms like Uber, Facebook, and others whose entire services are provided online whileothers use the platform to improve the quality of their operations[CITATION Ede15 \l 2057 ]. Theuse and popularity of internet have enabled these firms to gain a competitive advantage. Due tothe rapid growth of the use of the web, there is need to increase the capital allocated to cybersecurity[CITATION How09 \l 2057 ]. Cybercrimes have also increased with the increase in the useof the internet with online servers most prone to attack as they lack security guidelines. Theattacks are directed towards gaining information regarding individuals and companies that can beused to cause financial as well as reputational damage.The number of glo0bal social media users have grown from 1.22 billion in 2011 to 2.26 billion in2017 this shows the rapid increase in social media popularity a factor which has fueledcybercrimes[CITATION Sán12 \l 2057 ]. Considering that the number is estimated to hit 3.02 billionby 2021 and with more users acting as an attraction to companies to the online platforms thencybersecurity is an issue of concern. Corporations like Oreo, old Spice have successfullyimplemented the social media marketing strategy to gain a competitive advantage in the market.On the other hand, several firms like HBO, Yahoo, BBC, and Sony have been hit withcyberattack issues.The increase in the use of mobile applications is also a contributor to cyber-attacks[CITATIONIsl10 \l 2057 ]. As smartphones' usage increases so are the expansion of the mobile applicationsindustry. Smartphones usage grew from 1.57 billion in 2014 to 2.32 billion in 2017; this numberis projected to be around 2.87 billion globally by 2020, with this company like Facebook andWhatsApp are a potential target of cybercriminals. Most of the people who use social media havelittle information on cyber-crimes and end up avoiding the security features of the applicationsdue to their complexity[CITATION Wri12 \l 2057 ].Below are several examples of online security problems faced by modern companies.DDoS4|P a g e
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