Challenges in Cyber Security for Business: A Comprehensive Report

This report provides a comprehensive overview of the challenges in cyber security for businesses. It begins with an executive summary and table of contents, followed by an introduction that emphasizes the importance of cyber security in protecting businesses from various threats. The project objectives focus on analyzing the impact of cyber challenges, understanding the importance of cyber security, and developing protective strategies. The report includes a literature review that summarizes existing research on cyber security, highlighting gaps and opportunities for improvement, and a hypothesis is provided. The research design is descriptive, utilizing quantitative methods such as surveys and questionnaires to collect data from employees. The report also addresses limitations and includes a time schedule for the project's completion. The conclusion summarizes key findings, and references and an appendix are provided for further information. The report emphasizes the need for robust cyber security measures, particularly in sectors like banking, and the evolving nature of cyber threats.

Running head: CHALLENGES IN CYBER SECURITY FOR BUSINESS
Challenges in Cyber Security for Business
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1CHALLENGES IN CYBER SECURITY FOR BUSINESS
Executive summary
In this report, the challenges in the cyber world will be discussed. The various theories and the
opportunities regarding the cyber security in the business world will be discussed along with its
scope and opportunity. The research methodology is primarily focused on the descriptive way
and will be elaborated based on it. The time schedule is also elaborated with an emphasis on the
cyber world.

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Table of Contents
Introduction......................................................................................................................................3
Project objective..............................................................................................................................3
Project Scope...................................................................................................................................4
Literature review..............................................................................................................................4
Summary......................................................................................................................................4
Gap...............................................................................................................................................6
Opportunity..................................................................................................................................7
Hypothesis.......................................................................................................................................8
Research design and methodology..................................................................................................8
Quantitative Research (sample, data analysis, data collection, questionnaire, interview)..........8
Limitations.......................................................................................................................................9
Time schedule..................................................................................................................................9
Conclusion.....................................................................................................................................11
References......................................................................................................................................12
Appendix........................................................................................................................................14

3CHALLENGES IN CYBER SECURITY FOR BUSINESS
Introduction
Eliminating the threats is almost impossible and so there is a need to protect their
business from those that disrupts their growth and their business innovation. The cyber security
has the sole responsibility to protect their computers, programs and networking from the various
damages, misuses and the foreign attacks. Based on the computer technology, the security is
composed mainly of the two types, one is the cyber and the other is the physical. It can be seen
that the banks are the most targeted type in the business firm for these cybercrimes. This can be
said that the banks have much more money than any type of business. Thus, this can be
considered the main reason why the hackers have made the banks in their priority list for the first
attack. In the banking sector, there is numerous type of threats and are different from that of the
normal business firms. The most dangerous threat is that which is inside the organization and is
the hardest one to be detected. In this report, the objective of the project, its scope and a literature
review will be thoroughly discussed.
Project objective
In order to maintain in the cyber world, there is a need for the security in the organization
and for this three objectives needs to be followed:
 To critically analyze the impact cyber challenges on business
 To understand the importance of cyber security on business
 To make appropriate strategies to protect in the business the cyber attack
The objectives that are present in the banking industry are:

4CHALLENGES IN CYBER SECURITY FOR BUSINESS
 In order to reduce the turnover there is a need to provide the employees with a proper
training
 To promote the marketing strategy of the banks and also to launch the community
awareness programs
 Minimizing the customer’s wait in the queue line
 To increase the accounts for the customers for both the private and the corporate
 To ultimately increase the value of the commercial loans that is being provided
 Need to increase the scope of the customer service in the bank
Project Scope
There is a need to set up an awareness program that might have different problems
related to the cyber security that is found in the banking industry. In this, report various theories
have been analyzed along with a brief idea about the concepts of the cyber security in the
business sectors. The gaps, opportunity and the hypothesis of the research questions of the
literature review will be discussed in this report. There is a need to meet the challenges in the
world of the cyber security.
Literature review
Summary
The cyber security is regarded as an ever exploding field that has a huge body that is
growing day by day in the research material. The roots of this domain are primarily the computer
science and it is due to the recent cyber flaws in the security system that has made it gain the
importance in the business management domain and the law. The areas of this new technology

5CHALLENGES IN CYBER SECURITY FOR BUSINESS
are like the smart grids and the smart automobiles and principles that have new vulnerability in
terms of the security. It can be seen that in the recent days there is an increased rate in the cyber
security problems that can be considered unified in the academic learning standardizations. The
main problem of the standardization is to make a common place for this scientific discipline that
needs to begin with the standardization of the vocabulary (Scully 2014).
The main intention of this sort of the literature review is to focus on the challenges that
are faced in the cyber security of the business. There is a need for assessment in the new trends
in the cyber security policy that needs to be explored in relation to the cyber security systems.
The search has been restricted to the academic journals only for this report. The attacks on the
cyber is referred to as the deliberate actions that needs to be changed, destroyed, disrupted and
degraded in the quality of the programs running in the computer system (Šendelj et al. 2014).
The attacks in the cyber world refer to the actions that are deliberately used to destroy,
change, degrade and disrupt the quality in the programs running in the computer system. This
sort of business needs to be relied on the data and the information. The computers are generally
used to store various processes, information and a report that will be helpful for the organization.
The computers need to be in a form of a network that may be crucial in making the data
processing works and the back office works that needs to be kept securely. The encrypt data and
files, security systems, advanced firewall technology and the automated management tools can
be used in the organization in order to safeguard the storage in the systems. In order to achieve
the best protection system there is a need for the strategy that is primarily based on the analysis
off the threats. Reverse engineering, tampering and the piracy are the three threats that need to be
classified. Piracy is the unauthorized access of the different software that needs to be made on

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the ad making copy on the same sell illegally. The tempering is regarded as the alteration of the
different assets and the computer systems without making any authorization correction.
Gap
Kumar, Pandey and Punia (2014) stated that some of the theoretical approaches that has
been mentioned in the literature review portion about the various challenges that is found in the
cyber world almost lack the focus. In order to change the code of the software there is a need for
the act of the tampering. The anti tampering mechanisms act as the network for the use of the
firewall. Some raised the voice that in order to adopt the emerging trends there is a need for the
expansion of the cyber security. Herrera, Ron and Rabadão (2017) raised a query to plan, build
and design the requirements in an implemented plan. Robert and Directorate (2017) suggested
that it can be found in mostly the banking sectors. Van den Berg et al. (2014) argued that the real
focus is missing and it is primarily based on the theoretical approach.
The theory that has been applied in this section is quite outdated. In order to make it
updated the theory of the intersectionality can make the cyber security collaboration real (Best,
Ender and Kidwell 2014). The challenges of the cyber security need to be well analyzed before
making a fixed plan for execution the planning. The design and the buildings in collecting the
requirements of the system that needs to be well implemented by all the security measures. Amin
et al. (2013) claimed that there is a need for the management to monitor the various new systems
that will be eventually implemented in the business industry.
The theories related to the cyber security are not well discussed in the security
measurement in this literature review part. The discussions that have been evaluated in the
literature review part are assumed to be without any regulations (Gunes et al. 2014). There are

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various ways through which the breach of the cyber security can occur but it is well managed by
the security forces. The theories are devoid of the regulation and if that is improvised in that
section then the analysis of the review could have become much better. Cherdantseva (2016)
stated that there is a need to implement the system design that has been well planned from the
very beginning of the process.
Opportunity
There is a need to adopt the various new trends in the cyber security program in the
business sectors. The threats are varied but have a constant technology that teases us with various
new ideas. There is a need to present new opportunity and ways for doing the business and there
is always a new way to make a good difference. The cyber attacks are costing global businesses
not more than $500 billion per year (Elmaghraby and Losavio 2014). In sectors like the banking
and the finances, it can be said that they have led the way in achieving the targets. In the last five
years the IT, telecom, defence and gas and the oil sectors are following the same traits as the top
targets. The security software is much about the various types of the awareness that also takes
thee sophisticated coding that needs to be developed in a ransom ware that only has one click
that needs to be activated.

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Hypothesis
H0 There is no significant impact of cyber challenges on Linux
H1: There is significant impact of cyber challenges on Linux
Research design and methodology
The research design is a descriptive one that needs to explain on the various statement of
the affairs that is present which might have no control over the variables. This is well
characterized by the attempts that needs to describe, identify and determine the various analytical
researches on the way it came to be. Important distinctive traits of the descriptive research are its
depth on the specific case and so in this report the challenges on the cyber security.
Quantitative Research (sample, data analysis, data collection, questionnaire, interview)
In this report the various methods, surveys and the reports on the case study that has been
provided with a good guidance. There is a need to address the various data collection procedures
that has been related to the observational study that has a medium like the questionnaire that
have been undertaken by a specific development. The process of the data analysis ultimately
ends up in outlining the presentation and the design of the various studies through a descriptive
way.
The research instruments that has been used are the surveys that is mainly based on the
grounds of a questionnaire. The questionnaire has been filled up by the various employees in
order to get back the responses. The quantitative data analysis processes include the mean
medium mode and the standard deviation. In the sample file responses of almost 50 employees
were taken. The interviewing and the questioner design has been set to the employees and it is
primarily through the use of the various new techniques. The reliability of the data is quite an

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assessment tool that has produced consistent results that are considered stable. The test retest
reliability is again considered as a measure that can easily be obtained by a proper administration
through a long period of time in a group of employees.
Limitations
The limitations that have been faced while working on the challenges in the cyber
security for the business are:
Day by day, there are new things being updated so in this huge cyber world it is not
possible to meet all the theories. The cyber weapons after it has made its appearance in the cyber
world needs to be taken care of so a rapid investigation (He et al. 2016). A much thorough
research could have been done if a complete analysis from the day the mal wares were detected
until this recent year. Some of the research journals were missed out and if those could have been
taken, a more emphasized research could have been made.
Time schedule
Main activities/ stages Week 1
Aug(1st
& 2nd
2017)
Week2
Aug(3rd
& 4th
2017)
Week3
Sep(1st
& 2nd
2017)
Week4
Sep(3rd
& 4th
2017)
Week5
Oct(1st
& 2nd
2017)
Week6
Oct(3rd &
4th 2017)
Topic Selection 

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Data collection from
secondary sources
 
Framing layout of the research 
Literature review   
Formation of the research Plan  
Selection of the Appropriate
Research Techniques
 
Primary data collection  
Analysis & Interpretation of
Data Collection
 
Conclusion of the Study 
Formation of Rough Draft 
Submission of Final Work 
In this time schedule the main activities of this project has been explained. The topic
selection was done in Week 1 and Week 2 of August 2017. The data collection from the
secondary sources was done in the entire August month. Framing layout of the research was
done in the 3rd and the 4th week of August. The literature review was made from the last two
weeks of August till the whole of September and the formation of the research plan was done in

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the whole of September. Selection for the appropriate research techniques was done from the last
two weeks of September till the first two weeks of October. The primary data collection and its
interpretation and the analysis was done for the entire month of October. The conclusion of the
study, formation of the rough draft and the submission of the final work was done all in the last
week of October.
Conclusion
From the above report, it can be concluded that the security in the cyber world is
increasing day by day along with its threats in the business industry. The cyber attacks can be
considered as a different type like the fraud treats, malware and the ransom ware in the business
industry. The objectives have been discussed along with the literature review of the various
journals that needs to be created on the report. It can be said that slowly the business is
protecting itself from the cyber threats.