ISY3001 Essay: E-Technologies, Social Life, and Risk Management

This essay provides a comprehensive analysis of how e-technologies have fundamentally altered modern social life. It explores the transformative effects on communication, interaction, and various aspects of daily routines. The essay examines both the positive impacts, such as increased convenience and accessibility, and the negative consequences, including potential risks and threats. A significant portion of the essay is dedicated to investigating how suppliers of these e-technologies are addressing and mitigating the associated risks. It covers crucial areas like technology failure, cyber security, changes in technology, confidentiality of information, data loss, security vulnerabilities, and the impact of natural disasters, war, and terrorism. The essay emphasizes the importance of robust risk management strategies, including cyber insurance, to ensure the smooth and secure operation of e-technologies. Overall, the essay concludes by highlighting the dynamic nature of technological advancements and the continuous need for suppliers to adapt and manage risks effectively to maintain a comfortable and secure environment for users.

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E-TECHNOLOGIES HAVE CHANGED MODERN SOCIAL LIFE
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7/25/2018

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Introduction
With the advancement and revolution-taking place in e-technology, human life has
transformed drastically. The effects of advanced e- technology can be both negative as well
as positive. Even our way of greeting, wishing and interacting with each other has also
changed. Like earlier, we used to send wishes via post offices manually but now facility of e-
mail or e-card has made our life much more comfortable we do not have to go anywhere and
within single click, of mouse we can make our work done (Engadget, 2016). Tourism sector
has also changed tremendously now we do not need paper printed bills and tickets everything
can be done online without wasting our time standing in queues. E-technology has even made
our mode of payment much easier, safer, and comfortable. Gone are the days when we used
to get unsecure about keeping huge amount of cash with us (Medium, 2017). Each human
being keeps on experiencing how advancement in e-technology is changing his life in
enormous ways. However, at the same time the supplier of these technologies have to be well
equipped in order to overcome from the threats and risks associated with these technologies.
Several steps are taken by the supplier of e-technology to ensure smooth supply and prevent
risks and threats associated with these technologies.
E-technologies have changed modern social life
With the changes taking place in e-technology, people are adopting new habits. They are
implementing new ways in their life. The future of e-technology will be quite interesting than
it is at present. Modern technology has made everything possible, easy, faster, approachable,
better and fun-filled. Even a teacher can impart knowledge to his student when there is no
face-to-face contact between them. Place is no more a barrier and physical presence is not
needed. Various communication facilities that are available online save our time. Today
technology has almost changed everything way of imparting education, way of
communication, tourism sector, food sector, promotion techniques and many more. This
technological revolution has changed many things that affected social life of people. Within
nanoseconds and picoseconds, we can get our work done without much hassles
(Aginginplace, 2017). Even for doing shopping we do not have to waste our time by going to
the shops or malls physically. With the help of e-commerce doing shopping by sitting at
home become much more convenient. It saves both our time as well as efforts (Lifehack,
2018). Today people are enjoying quality of life in this technological society where dynamic
changes keep on taking place. In early times, people used to carry money physically along

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with them, which was not considered safe option for them, due to fear of theft and loot but
with the advancement in technology e-banking facilities, ATM facilities, online payment
facilities, and many more options are being added in our life due to technology. Our life has
become quite easy, comfortable and less risky. Now no more tension of theft and loot. This
has made people’s life less risky and tension free. Now no need to carry heavy amount of
cash everywhere. These technologies are fulfilling the desire and satisfying human beings.
Even life expectancy rates of human beings have increased due to the advancement in
medical technology (Brey, Briggle & Spence, 2012). Technology has removed many barriers
and hindrances in life earlier physical presence was always needed for communicating and
interacting someone but now with the help of internet facility and social media platform
communication is no more a problem even if the person is miles of distance far away from us.
Physical meetings are no more necessary. Interaction can be made with each other via social
media tools such as Skype, Facebook, Instagram, video calling and so on. Our social life has
become ultra-modern in term of contacting people and making new contacts from different
people. Use of e-technology has removed and dissolved the barriers of national and
international boundaries. These kind of digital tools helps to bind the people together. Social
media helps to make people aware about their surroundings and get them well updated about
what is happening in the world e -technology has also changed the way of promotion. Earlier
promotion and advertising was limited to newspaper, magazines, Television, and radio. Now
even the way of promoting and advertising things has changed significantly. Now promotion
can be done in various ways via websites, mails, social media platform and many more. This
kind of promotion is gaining more attention of audience as these include creativity and
innovation (Mangold and Faulds, 2009).
Every technology has its own pros and cons.The e-technology has both favorable as well as
unfavorable impact on people lives. If it is used wisely, it can prove blessing for us and if not
then it can be a curse for us. Although technology has made our life much more comfortable
than it was before but at the same time, it has made people dependent and addicted of the use
of technology, which may not be good for one’s health. For example: Excessive use of
mobile phones and i-phones leaves negative impact on the user as the rays coming out from it
are harmful for human body and it may lead to dire consequences. Dependence of people on
technology has made them lazy and quite formal in relationship even with their friends,
relatives, and family-members. Instead of meeting them physically, a simple hi/hello via
social site is becoming popular. In this advancement era of technology an individual himself

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has to decide his limits and to what extent the use of technology is safe and convenient for
him (PCWorld, 2012).
How suppliers of E-technology overcome from risks and threats associated
with it
However, technology has changed the everyday routine life of an individual. Nevertheless, it
has some threats, uncertainties, and risks associated with it. A supplier is a person who needs
to be well equipped for the risk associated with its business. Being a supplier of an e-
technology, it is important to mitigate, minimize, and alleviate the effects of risks and threats
associated with it as far as possible (Sodhi and Tang, 2012). Supplier risk management is
necessary for a supplier of e-technology. Any kind of loophole in his supply will lead to
serious repercussion (Supply chain and demand executive, 2010). Suppliers to overcome
from the known and unknown risks should use robust strategies. It is essential for a supplier
to do proper planning in order to overcome from the risk and threats related with e-
technology. Risks and threats that are associated with e-technology are as follows:
 Technology failure: To prevent technological failure effective planning is needed.
An ideal supplier always keeps him ready with back up and contingency plan so that
dire consequences of technology failure can be avoided as far as possible and keeps
him updated about the latest technologies. By doing this a supplier prevent his loss of
revenue, minimize negative impact of failure and reputational damage. It is important
for a supplier of e-technology to maintain goodwill and good image.
 Cyber Security: Cyber security is the first and foremost priority of a supplier. Major
areas that a supplier covers in cyber security are application security, information
security, network security, and disaster recovery.
Some basic techniques used for application security are role authentication and
authorization, input parameter validation, session management and exception
management.
Information security helps to protect valuable information from unauthorized access in
order to prevent identity theft and privacy. For this identification, supplier uses
authentication of user and cryptography technique.

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Disaster recovery planning is essential to resume daily business operations as fast as
possible after a disaster takes place. As it can affect normal routine functioning (Business
Queensland, 2016).
Network security includes use of anti-virus, anti- spyware, and firewall, virtual private
network (VPN) to provide secure remote access and intrusion prevention system (IPS) in
order to identify fast spreading threats. A supplier gets its system updated with latest anti-
virus and firewall so that it can protect the valuable data from attackers and hackers
(Antonucci, 2017). Hackers may misuse the data in case if the respective supplier does
not take proper care and steps.
 Change in technology: As we live in a dynamic environment so change is a part of it.
Technology keeps on changing with the development. Suppliers get themselves
updated with latest innovative and updated technologies. If they do so then only they
will remain in position to compete with other suppliers prevailing in the market.
 Confidentiality of information: It is important for a supplier to keep its internal
information confidential so that no one can misuse information that is external and
confidential. Otherwise, any kind of leakage of confidential information may
adversely affect a supplier.
 Data loss, data quality and decision quality: A supplier ensure that that data should
be of good quality so that losses due to factors such as process failure, compliance
issue or declining customer satisfaction do not take place. In addition, a supplier
make sure that the loss of data can be recover or store by making proper back up plan
and accurate decision support information such as analytics.
 Security vulnerability: A supplier must wisely choose Strong passwords and
strongly designed software that helps to reduce the risk of security vulnerability. A
weak password and weakly designed software are always at the risk.
 Natural disaster: Natural disasters are uncertain events that can occur anytime.
These include floods, tsunami, cyclones and many more. They can lead to severe
disruption of e-technology. However, the supplier via use of geographic information
system (GIS) that includes hazard mapping, threat maps, disaster management, and
records management and remote sensing system (RS) that can be used to prepare
seismic hazard map in order to access the natural risk and uncertainties can control
them to some extent (BBC, 2012).

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 War and terrorism: War and terrorism are unforeseen future events. They are
unknown events that can take place any time. An ideal supplier always makes
provision in case of break out of war and terrorist activities in the country. These
kinds of activities can disrupt the functioning of a supplier and need to be addressed
as soon as possible (Bigdoli, 2010).
 Cyber insurance: In order to overcome from risks and threats a supplier always opts
for cyber insurance. This insurance is also known as cyber risk insurance or cyber
liability insurance coverage (CLIC). This insurance coverage helps to mitigate the risk
that a supplier may face. This type of insurance generally covers expenses that are
related to first parties and third parties. However, this insurance cannot protect the
supplier from cyber-crime but can keep the business stable by providing financial aid
to the insured supplier (Cio, 2016). Cyber insurance includes data breach management
cover, multimedia liability cover, extortion liability cover and network security
liability (Computerweekly, 2018).
Conclusion
From the above it can be concluded that Change in technology is a dynamic process and
keeps on take place with time. Advancement in technology has changed the modern social
life of people drastically. Their communication process, knowledge gaining process, way of
interacting with people, mode of making payment have become digital and many more have
changed with this advancement (Techcrunch, 2015). Technology has made their life much
more easy, simple, convenient, and comfortable. All thanks to innovator and suppliers of e-
technology. Though these suppliers of technology are doing a great job for us but at the same
time, they are under obligation to manage the risks related with the supply of e-technology.
To do this firstly they have to identify risks and threats and then based on that they have to
take proper and effective measures to mitigate these risks. So that they can provide flawless
and smooth flow of services to the people without any interruption and people can make use
of it smoothly to make their life comfortable.

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