Information/Internet Risk Management Report: XYZ Tech Company Analysis

This report presents a comprehensive analysis of XYZ Tech Company's approach to information and internet risk management. It begins with an executive summary and introduction, followed by a business analysis strategy incorporating a SWOT analysis to identify strengths, weaknesses, threats, and opportunities. The report then delves into recently developed information/network security approaches such as database security, access control mechanisms, and intrusion detection, while also addressing the challenges associated with existing security measures, including high implementation costs, system failures, image tainting, and end-user negligence. A theoretical approach based on the descriptive economic theory of innovation is discussed, followed by the application of a knowledge-based technology framework and business process models like the clicks and bricks and customer loyalty models. Proposed software applications, including Open Office, are suggested to enhance internet/information security. The report concludes with recommendations for customer management software, password management systems, and enterprise resource planning software to improve efficiency, cost management, and growth, ultimately aiming to mitigate online crimes and protect client data. The report emphasizes the importance of adapting to new trends and technologies to ensure XYZ Tech's success in a competitive market.

XYZ TECH. COMPANY INFORMATION/ INTERNET RISK MANAGEMENT REPORT 1
INFORMATION/ INTERNET RISK MANAGEMENT REPORT
CASE STUDY: XYZ TECH. COMPANY
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XYZ TECH. COMPANY INFORMATION/ INTERNET RISK MANAGEMENT REPORT 2
1.0 Executive summary
This report contains XYZ Tech. Company’s information/ internet risk management
approach. From the case scenario, XYZ Tech is yearning for growth through diversifying its
business to online gambling organizations, small pharmaceutical and hospitality industry
organizations. However, it is exposed to information and internet risks ranging from the risk
of manipulation, unauthorized access of information of clients, for example, financial and
login details, ransomware, intrusion risks, and other malware attacks. This report, therefore,
seeks to find a workable risk management approaches that would lead to its success.

XYZ TECH. COMPANY INFORMATION/ INTERNET RISK MANAGEMENT REPORT 3
Contents
1.0 Executive summary..........................................................................................................................3
2.0 Introduction......................................................................................................................................3
3.0 Business analysis strategy................................................................................................................4
3.1 XYZ Technology SWOT Analysis....................................................................................................4
3.1.1.Strengths................................................................................................................................4
3.1.2 Weakness...............................................................................................................................4
3.1.3 Threats...................................................................................................................................4
3.1.4 Opportunity...........................................................................................................................4
4.0 Recently developed information/network security approaches.........................................................5
4.1 Database security.........................................................................................................................5
4.2 Access control mechanism...........................................................................................................5
4.3 Intrusion detection.......................................................................................................................5
5.0 Challenges associated with presently used information/ network security approaches..................6
5.1 High program implementation costs............................................................................................6
5.2 Online system failure....................................................................................................................6
5.3 Image tainting...............................................................................................................................6
5.4 High end-user negligence.............................................................................................................6
6.0 Theoretical approach........................................................................................................................7
6.1 Descriptive economic theory of innovation.................................................................................7
7.0 Framework.......................................................................................................................................7
8.0 Business process models..................................................................................................................7
8.1 Clicks and bricks model.................................................................................................................7
8.2 Customer loyalty model...............................................................................................................8
9.0 Proposed software applications to heighten internet/ information security...................................8
9.1 Open office...................................................................................................................................8
10.0 Conclusion......................................................................................................................................9
11.0 Recommendations........................................................................................................................10
11.1 Customer management software.............................................................................................10
11.2 Password management system................................................................................................10
11.3 Enterprise resource planning software.....................................................................................10

XYZ TECH. COMPANY INFORMATION/ INTERNET RISK MANAGEMENT REPORT 4
2.0 Introduction
Hal R. Varian in the New York Times describes the internet as a “lab experiment that
got loose” (New York Times, June 2000). He argues out that internet came into existence in
an enclosed environment under the umbrella of network researchers who familiarised and
trusted each other. It, however, escaped from a sheltered place and ended up in a hostile
environment which is unmanageable. This argument is logical since, with the inception of the
internet, the world has been turned into a fragile place where privacy is easily interrupted by
the intrusion. Currently, the world is facing major challenges due to cyber attacks. Basing on
our case study, our company (XYZ Technology) is exposed to risks such as unauthorized
access of information of clients, for example, financial and login details, ransomware and
other malware attacks. To manage this vice, XYZ Technology Company should invest in
internet security to protect clients’ information as well as its network security. Strategically,
developing applications that operate online platforms on the company's website and client
database would work for the good of the enterprise. Internet safety is a protection mechanism
by which authorization of access to data is controlled by the network administrator. Users
choose or are assigned an identification and password to authenticate their information and
programs within their authority. Majorly, this approach targets to guard users against attacks
over the internet. Practically, the internet is insecure for information exchange leading to high
intrusion risks. The report establishes a workable plan to leverage technology-based
companies from the risk of attack and data manipulation. This paper deals with recently
developed information/ network security approaches, challenges associated with presently
used information/ network security approaches, theoretical approach, framework, workable
business process models for XYZ Technologies, proposed software applications, business
analysis strategy, ethical, social and legal considerations, recommendations, and conclusion.
This study established that for positive growth, XYZ management had to change its
mode of operation regarding data protection software, framework, and models. The findings
supported the descriptive economic theory of innovation, a knowledge-based technology
framework, clicks and bricks, and customer loyal process models of business. It equally
advocated for open office and MYQL software applications as major components for
heightening internet/ information security. Further, the researcher recommended installation
of enterprise resource planning software to help in management functions, customer
management software to measure the level of growth and customers' satisfaction levels, and
password management system to allow easy memorization of passwords. This report is

XYZ TECH. COMPANY INFORMATION/ INTERNET RISK MANAGEMENT REPORT 5
essential in implementing processes and designs within XYZ Tech. Company for efficiency,
cost management, and growth. It would also help mitigate online crimes to the general public.
3.0 Business analysis strategy
3.1 XYZ Technology SWOT Analysis
3.1.1.Strengths. The company enjoys a huge customer base since most businesses and
homes are heavily investing in innovation and technology. Therefore, it runs on a higher
expansion probability due to supportive software, widespread internet cables and new
technologies such as smartphones and WIFI networks. Additionally, the Company works in
agreement with larger vendors hence a wider market base. Wider market base offers the
company more opportunities to exploit and make more profits in the market. Higher profits
made give the company an edge of enhancing sustainability and development in the market.
As a result, the company has a high probability of gaining and maintaining a competitive
advantage over its rivals.
3.1.2 Weakness. The current XYZ Technology Company business scope is limited to
development of applications. This limits it regarding customer tastes and preferences on
available choices of application. The differences in customers tastes and preferences force the
company to incur more costs when doing market research. Another weakness is that due to
the limitation of software development scope, more resources are required to advance these
cases.
3.1.3 Threats. XYZ Technology runs highly sensitive customer information that
requires high security to run. It exposes customers to the risk of manipulation, unauthorized
access of information of clients, for example, financial and login details, ransom ware, and
other malware attacks. Equally, being an application based company; XYZ Technology runs
high intrusion risks. There is also high competition in the market from other players, and this
is a major threat to XYZ technology.
3.1.4 Opportunity.XYZ Technology Company has an upper hand of diversifying its
products and services to attract potential client organizations for this new line of business
including online gambling organizations as well as small pharmaceutical and hospitality
industry organizations. Additionally, the organization can monitor the system through internet
security enabled applications to minimize cases of intrusion. Opportunity to expand and
enlarge its market base over the globe.

XYZ TECH. COMPANY INFORMATION/ INTERNET RISK MANAGEMENT REPORT 6
4.0 Recently developed information/network security approaches
4.1 Database security
Munir (2017) argues that computers and other online devices are prone to malware
such as viruses that may harm the data. Data management software applications such as cloud
and goggle drive have been developed to allow the end users to safeguard their important
documents and information as well (Basta, Zgola, & Bullaboy, 2012). This assures them a
safer storage for easy retrieval in the event of loss. Equally, installation of malware protection
software such as Kaspersky, Norton, Ad-Aware, McAfee antivirus software and others is
done to prevent harm on gadgets and data as well. Furthermore, data is protected from
unwanted access and intrusion via password protection. Creating strong passwords using
creative spellings, acronyms, personalised quotes and phrases biff up internet security
measures ("Internet Technologies," n.d.).
4.2 Access control mechanism
Devices such as mobile phones, computers, and applications among others are
protected by owners against risks of exposure to hackers. In addition, end consumers
perspectives such as privacy, multimedia content sharing and trustworthy are applied to avoid
being susceptible to online attack (FCCS 2012, Jin, & Lin, 2012).
4.3 Intrusion detection
Most internet sites such as Gmail, Yahoo, facebook and others have heightened
security measures by detecting intrusion attempts (Chakravarthi & Veluru, 2014).Such sites
send a notification text or email to the end user notifying them that their accounts have been
logged in from suspicious sources. Account owners are advised to report in case the attempted
move is not from their end. For example, when several attempts or new devices log into
someone's facebook account without success due to wrong password, security options such as
secret question, identification and other techniques are used to establish the authenticity of the
owner (United States, 2016).
5.0 Challenges associated with presently used information/ network security approaches

XYZ TECH. COMPANY INFORMATION/ INTERNET RISK MANAGEMENT REPORT 7
Though several attempts and measures have been put across to mitigate internet attack,
XYZ Tech. Company has not been able to face out cyber crimes and related risks to the latter.
The Company has witnessed various challenges amidst them being, high implementation
costs, high ignorance rate on the end-users, online system failure, ransomware and other
malware attacks, and tainted organizational image.
5.1 High program implementation costs
XYZ Tech Company incurs high costs in its attempt to implement information and
internet security operations. These expenses range from large system development,
application installation, labor, training costs, operational costs and other factors. I a way, this
has sabotaged the management’s efforts in implementing effective programs to support the
implementation program as well as offering technical help to clients ("The Financial Costs,"
n.d).
5.2 Online system failure
The unpredictable nature of machines and other online applications has failed in
various occasion exposing the end user to risks of online security. In an event of failure,
clients lack technical support and experience delayed feedback from the system administrators
thus disadvantaging them (Abu-Samah, Shahzad, & Zamai, 2017).
5.3 Image tainting
In instances where end-users accounts are hacked, most end up shifting the blame on
the service providers neglecting their contribution in the risk. They develop negative
perceptions of the system administrators and tarnish the corporate image of the company.
5.4 High end-user negligence
In most cases, the online risks are a product of errors created by the end users. Despite
various training programs on database security and access to control risk management
strategies such as use of password to secure files, documents and data, turning off gadgets,
most neglect these minor but key approaches to safeguard them against internet security risks.
Most therefore become victims of their own mistakes and suffer data loss, malware problems,
privacy infringement, and other issues related to internet crimes.

XYZ TECH. COMPANY INFORMATION/ INTERNET RISK MANAGEMENT REPORT 8
6.0 Theoretical approach
6.1 Descriptive economic theory of innovation
Since XYZ Tech. Company is targeting to diversify its business through different
target segments such as online gambling organisations, small pharmaceutical and hospitality
industry organisations, the disruptive economic theory of innovation would be applicable.
This theory assumes the use of simple products to win a huge customer base. The
management is therefore tasked with the duty of ensuring there is a systematic development
of applications for faster service delivery (Kudic, 2015). Ideally, the marketing department
would be called upon to engage the clients through research programs to establish their
expectations.
7.0 Framework
With the changing trends in the market and high competition, XYZ's success lies in
the adoption of a knowledge-based technology framework with highly mechanized effects.
Technology has made it easy to integrate tasks such as self-service, mental processes,
segmentation, enhancing systems, tapping innovative ideas, and creativity. Being a tech-based
company; XYZ should move with swift and diversify its operations with the new trends such
as online banking for business owners and marketing services such as online booking of
rooms for hospitality industries among others in mind (Knowledge Technology Week
(Conference), Lukose, Ahmad, & Suliman, 2012).
8.0 Business process models
8.1 Clicks and bricks model
This model fits well in XYZ Tech. Company since it allows clients to access XYZ
services online through internet. As a development strategy, the company should secure its
operations through extensive logistic and supply chains. In doing so, the customers will have
strong brand recognition and a range of products at their exposition to choose from (Laudon
& Traver, 2013).
8.2 Customer loyalty model

XYZ TECH. COMPANY INFORMATION/ INTERNET RISK MANAGEMENT REPORT 9
The model shall aim at retaining clients and evaluating their satisfaction levels with
regards to the products and services rendered by XYZ ("How Customer Participation Builds
Loyalty," 2014). Additionally, quality will be maintained creating a strong customer relations
and commitment ("Customer Loyalty: Easy Does It," 2014).
9.0 Proposed software applications to heighten internet/ information security
9.1 Open office
Open office is a software application that supports normal word functions such as
typing and data analysis via spreadsheet. This software is readily available thus allowing
efficient problem solving. Additionally, it updates data frequently and fixes any problematic
issues. Further, this application is compatible with other software programs such as Mac and
Linux. Moreover, open office allows end-users to save files in PDF format avoiding
replication and reproduction of data without the consent of the owner. However, this
application is linked to limitations such as program slow down due to high space utilization
by the Central Processing Unit (CPU), it has few font varieties. Open office has no user
support therefore limited to Google search engine since it is not channeled to a toll-free
number for help or inquiry (Marmel, 2013).
9.2 MYQL
This software application connects the user to the system administrator via internet. It
is linked with high security and password system since it works on the basis of host
verification. Additionally, the database servers provide a big amount of space for the system
to operate. It supports high-performance speed compared to open office and traffic website.
Basically, it is the best software for XYZ Tech. Company. Consequently, it is associated with
minor setbacks such as less functionality, incompatibility with other databases, and slow
response to many commands.
10.0 Conclusion
Concisely, this report has adequately discussed a workable plan that suits XYZ Tech.
Company as far as diversification and information/ internet security is concerned. To begin
with, the researcher has addressed the issue of internet security by establishing the current
developed approaches such as database security, access control mechanism, and intrusion

XYZ TECH. COMPANY INFORMATION/ INTERNET RISK MANAGEMENT REPORT 10
detection. Second, the report created challenges associated with the outlined procedures
ranging from high program implementation costs, online system failure, image tainting, and
great end-user negligence. Additionally, the paper discussed the current position of XYZ
Tech. Company by conducting a SWOT Analysis to measure strengths, weaknesses,
Opportunities and Threats. Further, this report has achieved in highlighting the descriptive
economic theory of innovation that bases on simplicity as effective one towards the success of
XYZ. It adds that the Company should use knowledge-based technology framework with
highly mechanized effects to remain relevant. Business process models such as clicks and
bricks which help clients to access services online, and the customer loyalty model that
supports customer retention and brand recognition have also been featured. Moreover, open
office and MYQL software applications have singled out as major components for
heightening internet/ information security (Marmel, 2013). Finally, the report recommended
installation of Enterprise resource planning software to help in management functions,
customer management software to measure the level of growth and customers' satisfaction
levels, and password management system to allow easy memorization of passwords.
Significantly, this report is important in implementing processes and designs within XYZ
Tech. Company for efficiency, cost management, and growth. The discussed proponents are
measures of growth to any technology-based business. The report is equally of significant to
online users since it gives possible solutions as far as cyber crimes such as risk of
manipulation, unauthorised access of information of clients for example financial and login
details, ransomware, intrusion risks, and other malware attacks.
11.0 Recommendations
Managing online risks focuses on heightening online security systems and applications
to minimize potential harm. These harms may be manifested in terms of data loss, intrusion of
private information, copyright infringement behaviours, such as illicit copying, unauthorized
usage, and free sharing of copyright-protected digital contents, and malicious distribution. To
manage such risks, the following approaches are workable.
11.1 Customer management software
Installing this software will help the management to reflect on its performance in terms
of services rendered to their clients and range itself against other competitors. The
components of measure under this system would include email reminders, tasks and event

XYZ TECH. COMPANY INFORMATION/ INTERNET RISK MANAGEMENT REPORT 11
reports, follow-up addresses and contacts, testimonials, feedback schedules, and email
correspondences (Blokdijk, 2012).
11.2 Password management system
XYZ system administrator should create a high-tech system that can allow users to
recall their passwords for a range of accounts across the web and different devices as the user
surfs the internet (Monk & Wagner, 2013).
11.3 Enterprise resource planning software
This is a management tool that would help managers to integrate various functions
ranging from collecting, managing, and interpretation of other databases and links tied to the
business. This will help in planning on costs, service delivery to clients, marketing the
organization, check payments and enhance sells. This technology move will aggregate daily
business operations using a common database to handle cash transactions, business
commitments and payrolls as per the demands and share the data across legalized systems
within XYZ Tech. Company (Monk & Wagner, 2013).
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extraction and validation of time-bound failure signatures for online failure prediction.

XYZ TECH. COMPANY INFORMATION/ INTERNET RISK MANAGEMENT REPORT 12
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