JIT2 Task A Risk Management Serena.docx

3 cyber attacks and security risk cyber attacks and

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3. Cyber-attacks and Security Risk Cyber-attacks and security breaches on data are very rampant. The company stores proprietary and confidential information that it uses for its operations. It also uses the cloud to manage and transmit huge amounts of data for its clients and consumers. Some of this data is sensitive and highly confidential. Malicious hackers and software try to penetrate the networks and access internal systems and technological products. This is the source of the cyber-security attacks. Another contributor is the product hardware and software sourced from partners and suppliers, which may have unidentified bugs that could interfere with operations or products that should go to the market. The likelihood of occurrence of this risk is high since malicious attacks are rampant. It would have severe high impact on the wellbeing of the business since products with bugs could damage their reputation and reduce their competitiveness. Consumers will distrust their services if they feel that their data is not safe under the company’s care. If the company is sued by clients for data breach, they will expend on litigation, thus increasing cost of
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RISK REGISTER 5 operations. Controllability of this risk is medium. It is hard to control when a hacker discovers a new way of maneuvering systems, but the company can do its best to keep their systems updated in order to minimize chances of getting compromised. In response to this risk, they should also affirm the quality of software and hardware that they source from third parties as a way of ensuring that bugs are minimized. 4. Integration Risk In a bid to adjust to changes in the market, the company has kept afloat by trying to diversify its portfolio. It has therefore made acquisitions of a few smaller companies that create products or offer services that can be improved by having a big brand managing them. This has led to expansion and growth. However, targets coming up are large and complex. The challenge and risk may arise from trying to integrate the business model, infrastructure, employees, culture and operations. The company might not realize the benefits of having made the acquisition in time if managing the integration becomes a challenge. The company is however stabilizing the management of integration of its latest acquisitions and they have had a good record and experience in integrating acquisitions. This leads them to believe that the likelihood facing integration risk is minimal. The severity of impact it would have on the business is high because without properly managing integration, they cannot evolve and abate competition or remain relevant. They would be overtaken by competition. This risk is highly controllable for this company since they have done enough planning for integration that they can forecast the problems that they may encounter.
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  • Summer '14
  • Tyndall, Tyndall Telecom

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