It is so unfortunate that as the rate at which the contemporary world undergoes immense transformations thanks to technological discoveries such as cryptocurrency increases, so does the threat to sabotage the efficiency of these life-changing innovations. While modern-day corporate enterprises such as MGMT eCash Inc. have been among the significant beneficiaries of information technology systems (Ukko et al., 2021), the management in every enterprise has a considerable role to play in ensuring smooth operations amid immense security threats to the systems. The marketing department is one of the most critical in a cryptocurrency trading company. As such, a highly competent Strategic Manager must maintain the company's infrastructure's integrity, fostering smooth transactions. Security breaches can come from external intruders or employees inside the organization. Typically, these breaches entail instances of phishing assaults, wherein individuals within an organization become ensnared by an intruder's scheme, leading to the disclosure of confidential company information, as well as deliberate or inadvertent manipulation of data by workers (Shaikh & Siponen, 2022). Phishing is a type of social engineering commonly employed by attackers to exploit human vulnerabilities with the intention of compromising organizational systems. Phishing attacks involve fabricating deceptive emails or websites that deceive personnel into disclosing personal information, including login credentials. Under these circumstances, Irwin (2022) emphasizes that employees of the organization may unwittingly fall victim to the schemes of outsiders, creating the possibility of sensitive company information being manipulated or leaked. Froehlich (2023) shared a similar sentiment, and adding that "workers may mistakenly or purposely act as conduits for violations." "...An organization's credibility may suffer greatly if unhappy or malevolent employees purposefully manipulate data." Therefore, due to the highly advanced nature of these attacks, it is imperative to implement robust external and internal security measures to mitigate external threats effectively. Technological glitches can also cause security breaches. A network within an organization is vulnerable to illegal access if it is not sufficiently secured". Malicious actors may use this to install Malware or cause data breaches. Malicious software, also known as Malware, poses a severe risk. Cybercriminals frequently use Malware to enter networks without authorization, steal confidential data, or interfere with regular business activities. Spyware, ransomware, and viruses are common forms of Malware (Carter, 2019). Coding defects, including logical errors and insufficient validation checks, can also cause security breaches. The aforementioned errors possess the potential to be exploited by unauthorized individuals with malicious intent, enabling them to engage in illicit activities within a given computer system. Security breaches can also be attributed to unforeseen power fluctuations or outages, resulting in system failures and data loss. Insufficient backup systems and recovery procedures pose a significant risk for organizations, potentially resulting in critical data loss and operational disruptions. This vulnerability creates an opportunity for security attacks to occur. As the Strategic Manager for Market Operations (Marketing), it is one of my primary responsibilities to safeguard the company's integrity by proactively mitigating potential security breaches. Therefore, I will implement comprehensive security strategies, including establishing encryption measures to safeguard sensitive customer data and confidential transaction details. Additionally, I would implement formidable access control tools to deter unpermitted system access and oversee regular audits and assessments of vulnerabilities to the security of the company's infrastructure (Carter, 2019). Furthermore, I will partner with cyber-security experts to regularly train employees on the latest and best practices for cyber-security, which will also help avoid and detect security threats within the company 1. Critique the above as a manager.
It is so unfortunate that as the rate at which the contemporary world undergoes immense transformations thanks to technological discoveries such as cryptocurrency increases, so does the threat to sabotage the efficiency of these life-changing innovations. While modern-day corporate enterprises such as MGMT eCash Inc. have been among the significant beneficiaries of information technology systems (Ukko et al., 2021), the management in every enterprise has a considerable role to play in ensuring smooth operations amid immense security threats to the systems. The marketing department is one of the most critical in a cryptocurrency trading company. As such, a highly competent Strategic Manager must maintain the company's infrastructure's integrity, fostering smooth transactions.
Security breaches can come from external intruders or employees inside the organization. Typically, these breaches entail instances of phishing assaults, wherein individuals within an organization become ensnared by an intruder's scheme, leading to the disclosure of confidential company information, as well as deliberate or inadvertent manipulation of data by workers (Shaikh & Siponen, 2022).
Phishing is a type of social engineering commonly employed by attackers to exploit human vulnerabilities with the intention of compromising organizational systems. Phishing attacks involve fabricating deceptive emails or websites that deceive personnel into disclosing personal information, including login credentials. Under these circumstances, Irwin (2022) emphasizes that employees of the organization may unwittingly fall victim to the schemes of outsiders, creating the possibility of sensitive company information being manipulated or leaked. Froehlich (2023) shared a similar sentiment, and adding that "workers may mistakenly or purposely act as conduits for violations." "...An organization's credibility may suffer greatly if unhappy or malevolent employees purposefully manipulate data." Therefore, due to the highly advanced nature of these attacks, it is imperative to implement robust external and internal security measures to mitigate external threats effectively.
Technological glitches can also cause security breaches. A network within an organization is vulnerable to illegal access if it is not sufficiently secured". Malicious actors may use this to install Malware or cause data breaches. Malicious software, also known as Malware, poses a severe risk. Cybercriminals frequently use Malware to enter networks without authorization, steal confidential data, or interfere with regular business activities. Spyware, ransomware, and viruses are common forms of Malware (Carter, 2019).
Coding defects, including logical errors and insufficient validation checks, can also cause security breaches. The aforementioned errors possess the potential to be exploited by unauthorized individuals with malicious intent, enabling them to engage in illicit activities within a given computer system. Security breaches can also be attributed to unforeseen power fluctuations or outages, resulting in system failures and data loss. Insufficient backup systems and recovery procedures pose a significant risk for organizations, potentially resulting in critical data loss and operational disruptions. This vulnerability creates an opportunity for security attacks to occur.
As the Strategic Manager for Market Operations (Marketing), it is one of my primary responsibilities to safeguard the company's integrity by proactively mitigating potential security breaches. Therefore, I will implement comprehensive security strategies, including establishing encryption measures to safeguard sensitive customer data and confidential transaction details. Additionally, I would implement formidable access control tools to deter unpermitted system access and oversee regular audits and assessments of vulnerabilities to the security of the company's infrastructure (Carter, 2019). Furthermore, I will partner with cyber-security experts to regularly train employees on the latest and best practices for cyber-security, which will also help avoid and detect security threats within the company
1. Critique the above as a manager.
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