Leveraging Information Security In Family-Owned Businesses - IT Computer Science Assignment Help

Assignment Task:

Task:

B.2 Background to the Problem Family-owned businesses are generally small in nature and most of them are run on family lines. This usually introduces a common trait associated with family-owned enterprises, that of employing family members to take up usually complex roles in which they potentially lack expertise. This scenario has a lot of associations which manifest as complex problems that such organizations eventually find themselves knotted in. A very important aspect of every business is that of it stakeholders. Every business has customers, suppliers, competitors and regulators [who provide the Regulatory Framework within which the business and its competitors must operate]. The business will usually keep in its possession very important and sensitive information relating to its interactions with some or all of these stakeholders. This information by its very nature is sensitive and confidential meaning that it should not enter the public domain for any reason. The business is therefore faced with the task of ensuring that all information in its possession is fully secured against illegal access or against the possibility of that information falling into the wrong hands. The financial, legal and market-related consequences of this ever materializing are frightening for any business enterprise in general and decimating for smaller enterprises which rely on family ties for their survival. Yet smaller enterprises, especially family-owned businesses are willing to take risks with the information in their keeping since the costs associated with information security are quite high. Securing your information in today’s cyber jungle, full of ever-lurking predators is in this day and age an absolute requirement considering rising costs of cyber-extortion where organizations are held to ransom by cybercriminals who illegally obtain very sensitive information and demand payment before agreeing to release the information back to its rightful custodians. B.3 Problem Definition / Problem Statement Family-owned businesses due to their usually small nature generally focus on their core operations and blissfully neglect security in general and information systems security in particular. The notion that businesses of this kind are too small to attract the interest of cybercriminals coupled with the willingness to take the risk of running the business’s information systems on compromised security as a way of minimizing overall operational costs are factors that contribute to this mindset which leaves the organization’s information systems exposed to both internal and external threats. Threats to system security occur when there exist loopholes that greedy and/or malicious intruders can take advantage of in an organization’s systems and gain illegal access to the organization’s data systems usually to steal privy information which they then use to their advantage, in the process causing multifaceted collateral harm to the organization. These loopholes are usually a result of low level expertise on the part of the IT Security personnel that small operations employ due to the fact that expert level personnel are too expensive for them to hire.

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