Please add in citations for each paragraph of the document you completed for me, thank you.e_business_security_and_risk_management_proposal__doc.docxIntroduction
Risks are uncertainties an organization is likely to face in its operations. They are vital
components that need to be understood by businesses to operate efficiently and effectively. Risks
are associated with challenges and opportunities that impact the companies in one way or
another. Managing risks consists of coming up with policies that can combat these uncertainties
if they occur. Risk management will influence some things in an organization for example; risks
are managed in regard to the goals of the business. It evaluates the measures that need to be
taken when risks occur by specifying how decisions should be made in such situations. Also, it
gives the organization the ability to pick out potential threats and respond accordingly. Through
risk management, an organization can be able to single out opportunities that it may consider
implementing. It also, help the organization allocate resources in an efficient manner to avoid
any conflicts with other departments.
Different companies will experience their unique set of risks when engaging in E-business. It is
important that organizations are aware of these risks so as to plan effectively on how to manage
and minimize them. In the E-business environment, businesses face internal risks which come as
a result of people, technology, processes and business strategies. Other risks are external to the
business and involve the risks associated with criminals, the commercial environment, and legal
systems.
The e-business platform has greatly influenced and improved the manner in which businesses
operate. Businesses have greatly harnessed the potential of the platform in competing favorably
in the business market. For instance, businesses can now use websites to sell products and
services, they can also interact with their clients, suppliers, and the stakeholders. Processing of
invoices is easier, quick and inexpensive. The cost of executing key business processes has also
reduced substantially. While businesses have enjoyed tremendous support from the e-business
models, there exist considerable risks that face this process.
Risk Management Plan
Internal risks
Business processes
In ensuring that the businesses processes are effective and efficient, the company can face certain
risks. One of the examples is intellectual property risks associated with the information available
on the websites that support their electronic business processes. The company may face this risk
in form of employees moving to the competitors with the key business information that may
impact their competitive advantage.
Another risk associated with businesses processes is reliability regarding delivering the products
and services to the clients. A business that does not meet customers’ expectation because of poor
delivery timelines may face the risk of losing its client base. This may be as a result of late
delivery of products to clients or unresponsive customer support queries raised by clients.
Mitigation
The business should protect their intellectual property rights by putting legal contracts in place
and educating the employees on why protection of information processes and intellectual
property is important. In minimizing reliability related risks the company should have a welldefined plan on how it implements its delivery services.
Technology
E-business processes are largely based on the information and communication technologies.
Thes technologies can become a great risk if they are not properly managed. A business is likely
to be highly impacted if it is dependent on information technologies. The issues faced under this
risk includes website downtime, data integrity issues and failure of mission-critical systems. The
company is likely to lose business and even customers if there is website downtime. This
because the clients may lose confidence in the company’s ability to provide reliable services. It
may also face legal implications if it fails to deliver as guaranteed to its customers.
Mitigation
The company should have measures to ensure data integrity is not compromised by
implementing control secure access to data storage devices. The company should also have a
backup strategy in place that can help recover data if it is lost or stolen.
External risks
Commercial Environment
The commercial environment can be greatly affected by significant changes in the business
environment or as a result of legitimate activities. Competition may set from the top businesses
through business-to-business processes. This may prompt the company to lower it prices which
in the overall end may make the business unprofitable. Suppliers of the products and services to
the company may fail the business if they do not deliver in time.
Mitigation
The company should have contingency plans in place such that if on supplier fails, it can shift to
another without any impact on the business. The logistics operations of the suppliers also should
be monitored.
The Internet criminal activities
In the business world that is largely dependent on electronic business services, there exists
challenge from individuals who conduct illegal activities that are disruptive to the business.
These activities include attacks through denial of service, virus attack and fraud. Other include
theft of credit card information and cybersquatting.
Mitigation
The company should put preventive measures that ensure the company is protected against virus
attacks. It should also ensure that auditing programs are done on its IT infrastructure. Creating
employee awareness and providing procedures to use in addressing these risks when they do
occur is very critical.
Conclusion
The risks discussed provide a framework which businesses can be reviewed and implement in
combatting risks associated with e-business processes. It is critical for the business to identify
and evaluate risks and their likely impact on the business because the e-business environment
keeps evolving. Also, the company should put a risk monitoring program that constantly reviews
the risk management plan and its effectiveness.
References
E-commerce and Web presence: The risks and threats. (n.d.). Retrieved February 06, 2016, from
http://www.computerworld.com/article/2574339/security0/e-commerce-and-webpresence–the-risks-and-threats.html
Executive Summary. (n.d.). Retrieved February 06, 2016, from
http://www.aiu.edu/publications/student/english/Business Risk Management.html
Risks and Electronic Commerce. (n.d.). Retrieved February 06, 2016, from
http://www.muhlenberg.edu/depts/abe/business/miller/ecrisks.html

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