The Corporation’s Risk Register
Introduction
Twilight’s Corporation is the globe’s giant chain of fast food restaurants. It has a large customer base and sells assorted food products as well as soft drinks. Some of these include burgers, chicken, and salads. As a concern, IT department might experience concerns regarding the ethical use and protection of sensitive data, customer records, and other information systems within the company. All Twilight’s restaurants are run by a franchisee.
The revenues originate from rent, the royalties as well as charges that the franchisees remit. Sales are also a major revenue source. On the company’s past performance, it is observable that its revenues have heightened significantly from 2005. The corporation dates its establishment back in 1954. The entrance of the company into the public stock market was in 1965. Presently, with a powerful brand, strong vision, mission, and values, the corporation remains an icon of a civilized life globally.
The Eight Risks Presently Facing the Business
It is evident that the current global business is marred with significant instances of competitiveness, challenges, and risks inherent with business. The Twilight’s Corporation likely remains one of the globally acknowledged corporations that also encounter the potential challenges that continue to be eminent with the increasing era of globalization as well as business competitiveness.
Organizational challenges also form critical components of these risks experienced by the company. However, it is a general knowledge that risks are pertinent components of any business practice and their proper identification as well as address constitutes the success of the business strategy (Hitt, Ireland & Hoskisson, 2012). In perspective, it is therefore critical to observe and highlight some of the potential risks inherent within the Twilight’s Corporation as a business entity.
The eight risk register describes some of the potential risks that are currently facing the Twilights Corporation. Generally, the potential risks eminent in this company presently include: High level of competition from potential external competitors, Market saturation, (more difficult to add new stores), labor turnover, and lack of product innovation. Apart from these four highlighted potential business risks faced by Twilight’s Corporation, there are also other four risks that largely emanate from the business operations.
These include: Poor public perception, (the company’s products are perceived to be potential contributor to the society obesity problem through its food stuff), Unfavorable monetary and business policies in other countries also form a potential source of risk for the business. This is particularly because the Twilight’s Corporation is a multinational company with branches as well as outlets in most countries of the world.
An ineffective marketing strategy is another critical risk facing the Twilight’s Corporation. Lastly, the eighth business risk facing the Twilight’s Corporation is the problem of adoption and integration of highly transforming information technology systems within the corporation’s management systems as well as business operations within all its global branches or outlets (Ireland, Hoskisson & Hitt, 2008).
Currency Fluctuations in Global Marketplace, Unfavorable Monetary and Business Policies in Other Countries
Twilight’s Corporation remains one of the globally remarkable multinational food companies. From these perspectives, it can be realized that it has several branches or outlets within diverse states all over the world. Therefore, the Corporation evidently remains at high risk of unfavorable business conditions or policies within the diverse overseas states.
Generally, it is an observation that multinational organizations or business entities have to encounter and dodge such challenges and risks including the unfavorable business policies within their oversea markets or areas of operation. The global economic crisis consequently led to or propelled currency fluctuations within most countries as well as in the global marketplace. Consequently, most countries adopted stringent monetary and business frameworks (Hitt, Ireland & Hoskisson, 2012).
As a multinational Corporation, the Twilight’s Corporation has been faced with unfavorable taxation polices, high initial investors fee as well as stringent and bureaucratic business licensing processes within its overseas branches. Therefore, it is evident that due to the company’s global marketplace operations, Twilight’s has significantly been confronted by the challenge of unfavorable policies abroad. Most governments particularly within the developing states are skeptical about the external investors.
This perhaps explains the reason for highly sophisticated and expensive taxation policies. The initial business licensing and authentication processes are also very demanding. These factors have considerable implications on the company’s expenditures and might lead to financial losses.
The Source(s) Of Each Risk
The Source of High Level of Competition Risk
It is apparent that every business entity faces considerable challenges due to stiff market competition from other potential competitors. The corporation also faces a significant competition from other like multinational corporations dealing in food products.
It is observable that within the food products industry, there exist companies that had long established there operations in major world economies. These have considerable market base than the Twilight Corporation. The company has therefore been forced to implement strategic marketing as well as promotion strategies in order for it to remain relevant and competitive within the market.
Risk Level of Competition
The severity of competition from external companies is high particularly within the overseas markets. Compounded with the unfavorable business as well as economic policies faced in the overseas branches, the local food production companies dealing in similar products have a greater competitive edge.
This is a devastating risk when considered under severity, vulnerability/likelihood, and controllability. Precisely, the severity of this risk is quite high since it might hinder the growth and expansion of the company. Consequently, this might hinder Twilight’s global presence and competitiveness.
In the context of likelihood, this company is vulnerable to competition from both locally and globally. The controllability of this risk is low when considered critically. The company can only enhance its marketing activities, customer services, and the quality of its products in order to remain relevant and competitive in the market. Nonetheless, it can hardly prevent competition in the current market. Hence, the controllability of this risk is low.
Additionally, the company experiences a considerably constricted market size. On the likelihood of occurrence of competition, it is indeed obvious that competition is bound to occur within all market segments. The level of competition is even bound to increase with increased technology and globalization (Ireland, Hoskisson & Hitt, 2008).
In order to control this challenge, it is upon the company to initiate strategic marketing approaches. The adoption of strategies such as the four (4) P’s of marketing by the company would provide a competitive advantage for the company. Increasing marketing endeavors and enhancing brand image through quality products as well as customer care service would ensure high competition standard for the company.
The Source of Market Saturation Risk
Market saturation remains a great risk for Twilight Corporation. With the increased market competition from potential rival companies, unfavorable business conditions within overseas markets and diminishing revenue capital, it is apparently getting more difficult to add new stores. The company is continuously getting disposed to a challenging situation where it cannot further expand its branches or outlets within new countries.
It is indeed understandable that in order to establish other branches in more states, the company needs a large capital base for investment, employing more staff and developing the necessary infrastructure as well as amenities. Competition from other potential corporations dealing in the same food products has also considerably led to a more constricted market size.
This is because the corporation has to enhance its marketing strategies and approaches in order to initiate its brands within the already heavily occupied market. Thus, market saturation is a risk that emerges from an interaction of other risk factors, both internal as well as external such as lack of appropriate capital, stiff competition and unfavorable policies for investment within other foreign countries.
Risk Level of Market Saturation
Notably, market saturation potentiates a considerably higher level risk for the Twilight’s Corporation. Precisely, the severity of market saturation (as a risk) is high although its likelihood is low due to the high cost and sustainability of quality and healthy food products. Similarly, the controllability of this risk is low especially in regions or countries embracing open market economies. While scrutinizing the severity of this risk, a constricted market results into low revenue or income to the company.
Such a condition may consequently lead to the fluctuation in the company resources and efficiency. It is notable that within most oversea branches Twilight Corporation continues to face stiff competition from local food companies. This situation results into lower market or consumer coverage. The market saturation may impact the Twilight Corporation negatively. This might be in terms of reduced revenues and sales, income as well as diminished company’s resources.
However, this situation largely remains controllable. The company’s management has to redesign their product promotion strategies, research into other new deplorable markets and increase sources of company funding and resources to widen the capital base for market range improvement (Ireland, Hoskisson & Hitt, 2008).
The Source of Labor Turnover Risk
The Twilight’s Corporation is a company that has large scale operations in the processing of food products. There are several processing as well as production units within the company that require both technical as well as casual labor for the production processes to be uniform. It is also observable that some of the food products require sophisticated production systems that require technical operations.
As a result, the Twilight’s Corporation suffers the need for employing several human resource personnel due to the immense labor that is needed for the production processes to be successful. Therefore, it can be deduced that due to the magnitude of the Twilight’s Corporation’s operations, there is a consequent need for a large pool of manpower.
Risk Level of Labor Turnover
Potentially, there is a high risk involved in the challenge of labor turnover. In this context, the company demands adequate labor with enhanced technical prowess, competency, creativity, and reliability. The severity of this risk is high since the company might hardly meet its customers’ demands in case it experiences labor shortage.
Consequently, the business might slump businesswise. The likelihood of this risk is low since the company recruits and trains its staff continuously in order to enhance competency. Employee motivation is also relevant in this context. The controllability of this risk is high since the company can manipulate its workforce and labor turnover. This is basically because the company has to spend huge amounts of its revenues in hiring or employing many quality staff.
Considering other financial challenges eminent from the noted external and internal factors, spending much revenue in paying the workers would be a great challenge. There are obvious impacts from this risk and these might include depleted company revenues as well as other resources (Hitt, Ireland & Hoskisson, 2012). Also, with brand upgrading initiatives as well as expansion of the operations base, the Twilight’s Corporation is more likely to encounter the problem of labor turnover. It is possible to control this situation.
The Source of Lack of Product Innovation
Proper management systems and strategies encourage innovation as well as novelty within competitive organizations. It is therefore the responsibility of the organization’s management to employ proper and strategic leadership approaches in enhancing innovations. Open-mindedness and collective participation enables all workers to be motivated towards novelty and innovation. The reason for lack of innovation therefore largely remains to be ineffective management systems or approaches.
Risk Level of Lack of Product Innovation
The risk level of this challenge remains generally high. Due to market dynamism and health concerns, the severity of this risk is high. The company must be innovative and dynamic to the market demands. If this is not the case, it might slump businesswise. The likelihood/vulnerability of this risk is low since Twilight’s endeavors to innovate its products while establishing quality and embracing healthy living.
The controllability of this risk is equally high due to creativity and commitment of the company in serving its clients. This is because the increased globalization process has heightened competitiveness amongst business entities.
As a result, there is need for more innovation and novelty in organizations to enhance their competitiveness. An organization that lacks innovation is most likely to be rendered less competitive. The Twilight’s Corporation is able to control this situation through integration of effective and transformational leadership initiative.
The Source of Poor Public Perception
Lifestyle diseases including diabetes and obesity have become notable public health challenges globally. The company has been branded a poor image as most of its products have been associated with the causative agents to these lifestyle diseases. The company’s products are perceived to be potential contributor to the society obesity problem through its food stuff.
Risk Level of Poor Public Perception
The poor public image is a serious risk that might lead to low company revenues as well as diminished competiveness. The severity of this risk is high since client might fail to purchase Twilight’s products. This might be a considerable blow to the company businesswise. The likelihood of this risk is equally high in case the company fails to maintain the quality of its commodities.
The controllability of this risk is high since the company can decide to establish and maintain good public relations and image. Poor public perception can influence the company’s performance negatively if not adequately addressed. In an attempt to address this challenge, the company’s management ought to conduct public campaigns and create awareness on the safety of its products. Safety and health messages should also accompany advertisement information in the various media used.
The Source of Unfavorable Monetary and Business Policies in Other Countries
The Twilight’s Corporation continues to face challenges from its foreign branches and outlets. The recent global economic recess has made most governments increase their taxation levied on international investors. The company has generally faced unfavorable financial as well as business policies within such countries.
Risk Level of Unfavorable Monetary and Business Policies in Other Countries
There aren’t many risks to be incurred in this challenge since the corporation is yet to spread its other branches into new market areas. The severity of these risks is high since the might hinder smooth operation of the company. The likelihood is low since the company operates in countries with favorable business ambience. The controllability of this risk is low since the company does not control monetary issues.
This is particularly within the developing world that seems to have stringent business regulations as well as high taxation rates for external investors. The challenge is most likely to minimize the extent of the corporation’s market base thus retarding its growth and expansion. However, this challenge remains controllable and can be managed by the corporation through selection of countries with less restricted business as well as monetary policies.
The Source of ineffective marketing strategy and technology
The management has significant challenges in adopting effective marketing strategies as well as technology within the company’s operations to enhance performance as well as competiveness. Lack of sufficient financial input has immensely contributed to the challenge of lack of efficient marketing as well as technology application.
Risk Level of ineffective marketing strategy and technology
Ineffective marketing approaches and lack of appropriate technological applications in business operations are high risk challenges that are most likely to degrade the business’s competitiveness. Precisely, the severity of this risk is high since Twilight’s products will not have enough market penetration and global presence.
This will decline sales and revenues. Nonetheless, likelihood is low since the company endeavors to market its products continuously. The controllability of this risk is equally high since the company can decide to market its products or not. This is most likely to occur especially with the increasing technological impacts of globalization and business competitiveness.
A4; Appropriate Risk Response for each Risk
The response given to competition (as a risk) is the establishment, enhancement, and embracement of Twilight’s competitive advantages in the market. Establishing strong brands, quality products, marketing mix, and customer focus can help in this context. This will allow the company to compete favorably in the market. Additionally, market saturation (as a risk) can be tackled by expanding the business to new markets and providing customers with exemplary services.
The labor turnover risk can be countered by recruiting competent and creative employees who will propel the company into the future while ceasing emerging opportunities. Additionally, the company can motivate its employees to ensure that the risk is reduced maximally. As a risk, the company can respond to lack of innovation by trying out new brands continuously in order to counter the dynamic market demands.
Concurrently, enhancing public relations through corporate social responsibility (CSR) can be a viable response towards poor public relations identified earlier as a risk. The company can also respond to unfavorable monetary and business policies in other countries by joining trade organizations and negotiating proper business terms with the target countries.
Additionally, the company can respond to ineffective marketing strategy and technology (as a potential risk) through proper establishment, ratification, and embracement apt marketing strategies, enactment of modern technologies in its systems, and embracing viable business practices.
The Business Contingency Plan (BCP)
Every company is susceptible to severe incidents that may prevent it from going on with its usual operations. It is also obvious that a company may suffer data losses, information security issues, theft and other detrimental incidents.
For reasons of emergency preparedness, an organization has to draw a contingency plan to enable its fair operations even in times of such crises. In case of the loss of a data center, the company has to take drastic measures to ensure its sustainability. The data center remains the key point for company data storage. Every information and statistics pertinent to the company is kept here.
Strategic Changes for the Company In case Of Loss of Data Center
There are various ways through which the company can use and protect its data under adverse situations. The company has to completely transform the information technology (IT) department with modern data protection software(s) and technologies in order to enhance its operations.
Under adverse situations, this might help the company to retrieve the lost data with promptness and precision. Use of backup systems is also advisable in this context. Backups can be stored at different locations for easy and protected access. The company can attain application scalability and high availability in this context. Additionally, the company might also employ redundancy through institution of dispersed data centers.
The company has to adopt critical platforms associated with designing dispersed data centers. Adoption of disaster recovery initiatives to enhance business continuance will also assist the company to gain its stance. Robust technologies that enhance sufficient data recovery as well as safety such as cloud computing technologies are appropriate if the company is to ensure efficient operations (Vacca, 2009).
Furthermore, the company has to embark on resilient networks in order to offer critical business resilience. Moreover, the company will have to observe the business continuance strategy. Important IT operations that have to be undertaken to enhance data availability as well as security include replicating data. Data replication can either be conducted synchronously or asynchronously. The various beneficiaries as well as end users to the recovered data have to be then directed appropriately to this recovered data.
Ethical Use and Protection of Sensitive Data
In the event of a major business disruption, effective and ethical approaches to data protection are crucial to guarantee integrity of the stored data. The aspects of data protection through the use of modern technologies and software(s) are also relevant in this context. Precisely, the company can use and protect its data in adverse situations through diverse ways. The first applicable strategy is to use data backups, which are established and updated frequently.
The frequency of this strategy can be set to meet the company demands in the realms of data protection and how much data can the company afford to lose in case of a massive system crash or disruption. This can be done on a daily, weekly, monthly, or yearly basis (Shinda, 2006). It is crucial to understand these provisions in the Twilight’s context. Concurrently, the organization can utilize backup utility built into Windows (ntbackup.exe).
This will help in performing basic backups necessary if the company is if faced with a major business disruption. Additionally, it is possible to use Wizard Mode to abridge the process of creating and restoring backups within the company’s systems. This will help considerably in this context.
Similarly, there are other third-party backup programs, which can provide more reliable data protection options. This will depend on the demands of the company with respect to data protection in case of any disruption. Regardless of the method used, it is important to keep a copy (elsewhere) of the backup used for safety and reliability.
Another method is to apply Encrypting File System (EFS) using in-built certificate-based encryption method. EFSs utilize a blend of Asymmetric & Symmetric encryption in order to provide enhanced security and performance. This helps in protecting individual files/folders, which are stored on NTFS-formatted divisions (Shinda, 2006). A certification from Windows is required for one to encrypt data successfully (EFS certificate).
EFS files can only be accessed by a user whose account was used to open or encrypt them as well as other designated users. This will help in case of any business disruption. It is also possible to use disk encryption, which locks down the whole contents of a disk drive; nonetheless, the data will be accessible by the user. When written to the HD, the concerned data is automatically encrypted; nonetheless, the same data undergoes decryption before it is loaded into the memory.
This is a critical provision in the data protection context. Data is automatically encrypted when it’s written to the hard disk and automatically decrypted before being loaded into memory. It is possible to utilize Disk encryption products to encrypt removable USB drives as well as flash drives in order to enhance data protection mechanisms.
Another strategy includes the use of public key infrastructure (PKI). This is a system that manages public/private key pairs and digital certificates, a provision that is relevant in this context in case of any disruption. Since keys (PKIs) and certificates are provide by a reliable third party, certificate-based security is better.
Additionally, hiding data with ‘steganography’ can also help in case the company faced with a major business disruption (Shinda, 2006). Steganography programs help in hiding data inside other data. Other protection methods include using secure data transmissions methods, and application of right management to retain control. The use of secure data transmission methods and protected IP address can also help in this context.
This is a critical provision in the context of data protection as indicated earlier. These strategic plans can be used to protect sensitive data in the event of a major business disruption as indicated earlier. It is important for the organization to restrict data access to authorized individuals, use viable means, and check for probable misuse among the stakeholders (Shinda, 2006). Establishing and enacting viable protection schemes can also help.
Due to the emergence of technology in the realms of IT, the increased globalization as well as advances in technological applications has heightened the need for a more secure system of data provision to all organizational stakeholders. Robust technologies such as cloud computing constitute some of the initiatives that are able to enhance data security and protection (Vacca, 2009). The IT department should be composes of highly trained and integral personnel that are credible enough to ethically handle sensitive data.
Ethical Use and Protection of Customer Records
In order to enhance the security of the data belonging to the customers, the IT department of the company ought to be the sole accesses of the critical information. Online technologies including cloud computing have to be effectively employed with full regard to the data security systems and approaches.
Non-consumers of the available data have to be fully restricted through the adoption of data protection initiatives like passwords and creation of unique Local Area Networks (LAN) systems (Vacca, 2009). The customer records have to be safely kept with creation of remote back-ups just in case of an emergency disaster or data center breakage or loss. This consideration leads to a high data security that is coupled with a backed up system.
Communication Plan to Be Used During and Following the Disruption
Communication remains a critical process within all organizations. This is because it helps in the exchange and processing of information that is the fundamental backbone of business dealing or processes. In case of an emergent breakdown of existing data centers, communication has to continue with maximum care and security.
The application of robust technological approaches such as data sharing through phones and cloud computing is necessary during and after the disruption of the main data sources or systems. However, it is apparent that communication technologies such as cloud computing and video conferencing would require apprenticeship and adequate capacity building of the staff to be engaged (Vacca, 2009).
A plan that the company would follow should a major business disruption occur
The company needs to follow a predetermined and precise communication plan should a major business disruption occur. Firstly, it is crucial to understand the cause, intensity, and impacts of the concerned business disruption. In the context of data disruption, a precise communication plan will help considerably as the normalcy is restored. It is critical to provide a concrete communication strategy that will serve the entire business prospects.
The information should be communicated to the immediate managers, departments, and other concerned stakeholders while following the stipulated portfolio protocols. This is relevant to the context of protocol mentioned earlier. Consequently, relevant departments should act appropriately and swiftly in order to correct the situation and restore normalcy.
Delegation of duties helps in eradicating conflicts of interests as the organization struggles to restore normalcy. Relevant information should be communicated precisely while considering thematic provisions of the entire disruption. The communication plan should start with listing communication stakeholders with respect to the organization. This will enable the organization to plan its communication objectives during the concerned business disruption.
Consequently, this will ensure that every stakeholder is catered for in case of any business disruption. Second in the plan is to identify each stakeholder’s communication needs for appropriateness and relevancy. Thirdly, it is important to define the required communications events in case of any disruption. It is also important to determine the method and regularity of every event while allotting adequate resource to communication events.
Similarly, the plan contains a communication schedule, should monitor communication progress, provide feedbacks, and improve communication processes during a major business disruption in the company. Communication schedule has a provision of where and when the organization should communicate pertinent information to its stakeholders. Following the concerned disruption, there are various occasions that the organization should communicate to its stakeholders as the normalcy is being restored.
Monitoring the communication progress is important in ensuring that everything is fine within the organization. It unveils the progress and recommendations made by the concerned stakeholders with respect to the concerned disruption. This is a critical provision when considered critically in various contexts. It is also important to provide feedbacks and improve communication processes during a major business disruption in the company as indicated earlier.
Restoring Operations after the Disruption Has Occurred
After operational disruption, it is important to restore normalcy within the company. This provision requires a massive competency from the concerned stakeholders. The business must continue with its operations despite the witnessed disruption challenges indicated earlier.
Firstly, the organization must establish and ratify novel restoration resolutions or strategic plans to ensure success. In this context, all sectors in the organization must resume their duties based on the new resolutions enacted by the company and its IT department with regard to data protection. Participation of each stakeholder is important in this context.
Additionally, understanding the causes, remedies, and other provisions of the concerned disruption is important in formulating viable restoration mechanisms relevant in this context. The plan to be used during restoration incorporates all stakeholders in the entire organization. Initiation plans, implementation schedules, and evaluation plans should be in place to ensure coherency and success. Strategic restoration plan is necessary in order to avoid possible mishaps.
Disasters involving data losses within an organization are serious and should be handled with great care and promptness. For this reason, during the restoration, the IT department including the present staff has to be re-evaluated in terms of the competency to deal with a more enhanced system of data management.
In addition, the management should focus on cloud computing and decentralization of the main data sources or centers to enhance data protection. Data replication processes would technically assist in the restoration and retrieving the vital data (Vacca, 2009). As indicated before, there are numerous strategies that can be used to aid the data protection processes and avoid further losses during a major business disruption.
This will enable the organization to remain stable and up to the task despite the concerned challenges. As a contingency plan, restoration will require adequate funds enough to finance the entire process. It is crucial to understand the provisions of restoration in order to establish appropriate and practicable mechanisms. Nonetheless, indulging the relevant stakeholders will augment the process.
Procedures to get the Company up and Running
Upon identification of the disruption causes, impacts, and probable remedies, immediate action is required to restore normalcy. Firstly, it is important to indulge the concerned IT departments to alleviate the situation. Other departments should get the information regarding the issue and how to resume their operations. This will require apt and proper communication initiatives between the departments.
Consequently, appropriate measures should be established and ratified to avoid future complications. Proper delegation of duties within IT departmental units is necessary during the restoration process; this initiative is to assist in enhancing individual accountability of the workers within the IT department. Furthermore, it would help in the reduction of role confusion within the same department, thus, minimizing future data loses.
The Implementation Plan
Execution of the data management and security change process is a critical procedure that requires the engagement of all relevant stakeholders within the organization. The management remains the top decision makers in the process of IT change management. Foremost, there has to be a rational and consultative decision on the type of IT management system to adopt for the organization (Vacca, 2009).
This follows a cost and benefit analysis of the available technological options. It should also consider the trends within the market and choose on the most efficient and effective alternative that would enhance the company’s competitiveness. After these considerations, the available resources are evaluated. This ranges from the human to financial resources. The human resource department has to define the capacity or number of employees needed within the IT department for cost evaluations by the management.
If there is need, the recruitment process begins with complete specifications of the qualifications, experiences, as well as skills required from the intended or prospective employees to be recruited (Vacca, 2009). Other available alternatives depending on the size of the company such as outsourcing must also be considered during the process.
Upon the acquisition of the necessary resources, there is a participatory meeting with all members and issues pertinent to data protection and security must be sufficiently highlighted in the process. Training, capacity building and awareness creation are critical components of change process within any organization. The location of other data centers is critical to ensure dispersion of the available data and enhance security.
Creation of data backups and engagement of the end users in training sessions on how to access their data is also a critical step. Conducting drills is an important step in detection of any fault that might exist in the new data management systems. It is therefore significant that the management together with the IT department engages the end users of data and other staff in frequent drills and security checks as a part of continuous process improvement.
Monitoring and Adjusting the BCP
Monitoring will involve a continuous process of assessing the systems to ensure the processes initiated to aid the BCP are in correct route. This process must be conducted through the company’s independent monitoring and quality control unit in order to enhance continuity in the adjustment procedure. There also have to be scheduled periods in which major monitoring operations are conducted within all departments in charge of data processes.
Monitoring tools have to b collectively developed (Vacca, 2009). This will ensure a proper understanding of the tools applied in monitoring the data protection as well as security issues within the organization. In order to comply with other global bench marking requirements, the company might also be obligated to outsource for external monitoring experts to conduct critical system evaluations and compile necessary reports.
Analysis of progress reports from the monitoring unit by the management would help in forecasting future challenges or limitations that might accrue from the present data systems. The experts within the IT department have to institutionalize skilled approaches to data security monitoring so as to avoid accidental or intentional data breaches.
References
Hitt, Michael A., Ireland, R. Duane, & Hoskisson, Robert E. (2012). Strategic Management Cases: Competitiveness and Globalization. New York, NY: South-Western Pub.
Ireland, R., Hoskisson, R. & Hitt, M. (2008). Understanding business strategy: Concepts and cases. Mason, OH: South-Western Cengage Learning.
Shinda, D. (2006). 10 things you can do to protect your data. Retrieved from https://www.techrepublic.com/
Vacca, J. (2009). Computer and information security handbook. Amsterdam: Elsevier.