Cyber Security: The New Priority for Maintaining Business Solidarity

Today’s global digital world is marked by Data. Cyber security has become the new priority for maintaining business solidarity. Safeguarding intellectual property, financial information and your company’s reputation is a crucial part of business strategy. However with the number of threats and sophistication of attacks increasing it’s a formidable challenge.

As more and more business owners utilize fast forward technologies such as cloud computing and mobile devices and apps the risk of hackers accessing money and business data becomes real.

Information Security and the Concerns:

This is one area that does not gather much attention from marketers, its side-tracked saying it’s the CIO job and his concerned subordinates. But a single stroke of information breach news gives you nervous attack. A study conducted by PwC, CIO and CSO survey of more than 9,600 global executives, constituting 41% of US respondents has experienced one or more security incidents during one year.

Let’s evaluate the losses:

• 37.5% of Financial losses
• 31.8 of Intellectual property theft
• 31.2 of Brand reputation compromised
• 15.8% of fraud
• 12.2% of Legal exposure/lawsuit
• 11.3% of loss of shareholder value
• 7.1% extortio

Four Types of Cyber Threat:

1. Nuisance hacking: Hacker defacing your company’s website.

2. Hacking for Financial gain: Hackers might target a company’s financial function in order to obtain its earnings report and release it in public and can have direct affect in stock prices.

3. Advanced Persistent Threat: The motives go beyond financial gain and it involves use of advanced techniques that can prove to be a national security threat too.

4. Hacktivism: The goal of perpetrators is to change or create a public perception of your brand. Hacking sensitive information and leaking it in front of the public.

Security Tips to maintain business Solidarity:

• Create a Written policy for Employees:

Cyber security poses big time problem due to lack of education among small business owners and their employees. In such cases business owners should stay updated about cyber security issues and create a well-written security policy for employees.

• Use Stronger Passwords:

Business owners should create passwords that are at least 12 characters long and contain upper and lower case letters, as well as numbers and special characters. Also avoid using same passwords across multiple accounts.

• Encrypt Your Data:

Disk encryption tools come standard on most operating systems, including BitLocker for Windows PCs and FileVault for Macs. These programs essentially convert the data on your systems into unreadable code that isn't easily deciphered by hackers.

A Sustained approach:

A well built and sustained approach to security enables companies to take better advantage of fresher technologies such as mobile, social media and cloud that is in turn driving most of the business growth for organizations. Company executives are leading the charge, working across the business to assess the current environment, define their most sensitive data, assign accountability, devise a strategy, and measure their progress.

How can managers better position their organization for success? Only through strong leadership and a comprehensive approach that continually links information security back to business strategy.

Sources:

http://www.esalesdata.com

http://www.prdaily.com