AminataFunchess BUS 519 assign3.docx

Public reaction data breaches affect public trust and

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would not have to be as intense which could run from $400-$1500 per course. Public Reaction- Data breaches affect public trust and can take a year a more to recover from the damage. “EBay, closing at $51.88 after the breach on 21 March, grew to $59.74 exactly a year later” (Drinkwater, 2016). Breaches also lead to loss revenue and in some cases customers switch brands.
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RISK WORKSHOP AND RISK REGISTER 7 Competitors- After Flayton’s data breach competitors have the opportunity to poach Flayton’s customer base. Flayton’s reputation can take a year or more to repair from the damage, allowing others in the same market space to appeal to those customers. Justify the assignment of probability and impacts for each threat identified in criterion number 3 of this assignment. Based on the previous assessment in this project it has been determined that this is a medium sized project. Data breach- The probability of another data breach would be considered medium on the scale. This threat is considered medium due to the likelihood of it occurring again. There are no fool- proof solutions to completely deterring cyber threats and breaches. Flayton’s Electronic is currently in a vulnerable state just having gone through a data breach. The company is in the beginning stages of implementing the risk management plan and trying to work through the kinks of their current software and security systems. The impact of another data breach would be catastrophic to the business. The remaining customers would most likely lose all trust in the company and would take their business elsewhere to avoid any additional private information from being compromised. Employee theft- Flayton’s has not yet determined if the data breach occurred due to the crash of the firewall or a disgruntled employee’s assistance. The probability of this occurring again is low because upper management is now aware this could be a possibility and can decrease access to certain employees and closely monitor those that have higher access. The impact would again be catastrophic to the business because of the previous data breach.
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RISK WORKSHOP AND RISK REGISTER 8 Staff Incompetence- Probability of staff incompetence is low after reviewing the information gained from the data breach. Management is aware of the weak areas employees need improvement or retraining on and now have the opportunity to rectify the situation. Employees are also aware of what skills they need to be refreshed on to properly implement the risk program. The impact of employees remaining incompetent would cause issues in securing vital company information. Public Reaction- A negative public reaction would be considered medium because this would be contingent upon no additional data breach occurrences. The impact would be detrimental to the company from the negative publicity of a second data breach and would essentially ruin the business. Competitors- Competition is a high threat on the scale. Competitors could attempt to gain any concerned customers of Flayton’s, who fear continued business with the company would be a great risk. The impact would again damage the Flayton’s bottom line and possibly end the business.
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