Question

What security threats do organisations face in their e-business operations?
What are the potential consequences of these threats for organisations? Why
are the actual consequences often less severe than the potential
consequences? How do organisations use management strategies to address
security threats?

Answer 1

There are various types of threats faced by the company, such as misuse of data, online payment related risks and many others like hacking or stealing of data.Because of all these threats, the company can face a considerable loss in terms of online payment, virus attacks, phishing attacks. Due to all this, the consumer will look for other companies that can assure them that their data will be protected and in which payment gateway is secure. The company can lose its customer base, and a hacker can misuse their data.To make the potential consequences less severe, the company should consider the following steps to mitigate the effects of online operations.:-

Identification of Buyer:- The company should make sure that a customer who is purchasing the product should reveal its identity. This can be done by making the customer to register himself before placing the order.

Installation of Anti-Virus:- The company should install good antivirus which can protect the system from any kind of infection. In this way, it can help in reducing the stealing of data of consumers and helps in building the right image of the Company.

Management Strategies adopted by the company to address these threats are:-

1)Setting up of an IT Department:- The Company should create a department that handles all the online activity of the company. This includes placement of the order, online payment.

2) Making the portal of the company secure:- The company should ensure that its website portal is confident enough that no hacker can hack it.