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

The most common security threats that are being faced by the companies and organisations bu conducting the e commerce operations in the business are the phishing attacks, data misuse, money thefts, hacking, unprotected services, privacy issues, credit card frauds and misuse of information. These security threats are common these days as the ecommerce is emerging and the management is not having enough resources to comply with the same. All of tese security threats are being followd up by the poor management in the organisation, no regulation and controls and also ineffective security providance for the data regulation in the organisation.

The potential consequences that could be seen because of these security threats are the mismanagement in the organisation, ineffective control, financial losses for the company, loss in goodwill and brand equity of the company, privacy invasion for the data and information and finally also the company could fall and terminate the business because of these threats. All of these consequences are the potential consequences which concerns and takes an account for all the risks that could happen in every scenario.

The actual risks that could arrive out of these risks would only be sufficient and only limited. The actual consequences being suffered by the company would be less than the potential ones because not every risk is covered by the actual ones. If we thought that potential could cause us 100% damage, the actual could only cause 30-40% damage because the companies have already planned and prepare themselves for some of the risks which would minimise the effects of the damage in actual scenarios.

The management strategies that are being taken by the organisation to remove or reduce the impacts of these security threats are:

1. Planning: Planning of the right standards, objectives, policies, securities is effectively taken out in the organisation. The plan should be made and implemented in the organisation in such a manner where the security threats are being critically analysed and accordingly the environment around is analysed to ensure the right implementation of the standards are done.

2. Communicating: Another strategy is the effective communication of these standards around in the business. One has to make sure to communicate the right objectives, direction and standards to the company to make sure the communication is done effectively throughout the organisation making everyone being aware about the roles and responsibilities performed.

3. Controlling: Also, regular management strategies are taken out to ensure the objectives are met and standards are achieved. The controlling activities are taken out to ensure the standards and policies are achieved to make sure the risks are reduced at large.