AminataFunchess BUS 519 assign1.docx

There were also known bugs in their new computer

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There were also known bugs in their new computer system which caused the firewall to be down at any given moment, leaving the company susceptible to hackers to gather their customer’s information. Another risk that was evident was that information security was not given the appropriate priority within the program. This was showcased by the lackadaisical attitude the CIO Sergei expressed when relaying the information to the CEO that the company’s compliance standard was at 75%. Sergei considered this acceptable because the company’s score was better than others in the same industry. Sergei also conveyed that he was handling several other high priority projects and was juggling everything at once. Sergei was aware that Flayton company’s entire compliance program was for him to maintain. This leads to the final risk of key resources being unavailable. Sergei is only one employee and cannot be held responsible for all the projects that he was managing and meet the expected quality standards and deadlines. Sergei seemed to be aware of what the possibilities were that caused the breach and admittedly let Brett the CEO know that he was doing the best he could. The VP Laurie was inexperienced with information security, therefore, providing no additional help or insight for the company prior to the data breach. CEO Brett Flayton was proud of his family-owned business. He took pride in everything the company did and was personally disturbed when the data breach occurred. Brett has the right intentions for his company to thrive given the proper implementation of a risk management program. He needs to garner the support from his current staff, and potentially hire additional information security specialist to thwart off future attacks. Risk management is a fluid task that requires continuous dedication and support from upper management to remain successful. “How many times must we learn the same lesson before we do something different? The world is a
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ASSESS ORGANIZATIONAL READINESS 8 scary place to do business. There are risks all over the place from unseen hackers to known competitors to weather to regulatory changes to employee theft. The lesson is that every organization must take a comprehensive, top to bottom, strategic approach to risk management involving everyone in the organization” (Bradt, 2017). References Bradt, G. (2017, November 8). Why You Must Take A Strategic Approach To Risk Management. Retrieved from https://www.forbes.com/sites/georgebradt/2017/11/08/why-you-must-take-a- strategic-approach-to-risk-management/#63f0ee157919 cache://(erm.ncsu.edu/library/article/risk-culture-companies - Google Search. (n.d.). Retrieved from (https://erm.ncsu.edu/library/article/risk-culture-companies Hillson, D., & Simon, P. (2012). Practical project risk management: The ATOM methodology .
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ASSESS ORGANIZATIONAL READINESS 9 Janakiraman, R., Lim, J. H., & Rishika, R. (2018). The Effect of a Data Breach Announcement on Customer Behavior: Evidence from a Multichannel Retailer. Journal of Marketing , 82 (2), 85-105. doi:10.1509/jm.16.0124 What Benefits Are Gained by Implementing a Risk-Management Program? (2013, October 27). Retrieved from http://smallbusiness.chron.com/benefits-gained- implementing-riskmanagement-program-75600.html
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