Berkshire Hathaway Company’s Risk Assessment Report

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Protecting personal data from cyber attacks is a significant problem faced by the specialists of the Berkshire Hathaway company. According to Amoroso, many data are stored on cloud-based servers, and it increases the risk of information theft. Therefore, it is necessary to develop a specific protection plan and assess the efficiency and quality of the implementation of the technology used.

The plan is based on several points:

  • Berkshire Hathaway potential and capabilities are sufficient to develop its activities successfully.
  • The potential risk of severe problems caused by the leakage of valuable data is significantly increasing.
  • The calculation of the possible range of threats should be carried out.
  • The development of a particular policy may help to protect the company from possible troubles and withstand hacker attacks on an electronic network.

The theft of corporate data is dangerous from different points of view.

A short-term outlook:

  • Regular attacks on an electronic database will have an adverse impact on the company’s performance.
  • Hackers’ activities will adversely affect employee safety.

L A long-term outlook:

  • The loss of credibility in the market.
  • Severe material losses and the lack of clients and partners caused by mistrust.
  • The loss of skilled specialists.
  • The problem of hiring new insufficiently experienced and qualified specialists.

Thus, it is important to assess the risk and potential impact of cyber attacks on the company’s operations, as well as offer an approach for risk assessment modeling. The presented tables show the relationship between the impact of the negative consequences of hacker attacks on the state of the company and its development.

Protecting access to personal data is essential. The procedure should be clear for all participants of the plan:

  • Any approach should take into account the possibility of implementing a particular technology to protect each employee.
  • A probable hypothesis is the theory that risk can occur at any time.
  • The calculation of potentially problem areas may help to avoid data theft.
  • Monitoring and observation are rather effective ways to identify vulnerable areas.
  • Each employee should be aware of the importance of the work carried out.
  • The team of specialists is better than one person.
  • The rationale for risks should be logical and understandable for all stakeholders.
  • Security will cost you less than restoring company’s prestige.

Works Cited

Amoroso, Edward. Cyber Attacks: Protecting National Infrastructure. Elsevier, 2012.

Berkshire Hathaway. Berkshire Hathaway Inc., 2017. Web.

Finkle, Kim, and Skariarchan, Dhanya. “Reuters. Web.

Johnstown, Alice. “The Economist. Web.

Rogers, Jerry. Global Risk Assessments. 4th ed., Global Risk Assessments, 2012.

Scoldra, Paul. “The 9 Worst Cyber Attacks of 2015.” Business Insider. Web.

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