The upcoming development of the smart devices at various of the layers with the following by the integration of the network of the communications tends to introduce severe cyber threats. The interdependencies of the functioning of the various sub system in the smart grid is generally affected by the smart attack tending to be vulnerable and reduction in the efficiency and reliability (Ben-Asher & Gonzalez, 2015). The vulnerabilities of the cyber security have become even more evident due to the exiting cyber frame structure of the multinational organizations.
This research proposal delivers the effects of the losses of the confidential marketing data due to the attacks of the cyber crimes. The report furthermore highlights the context of the challenges faced by the organization in Australia which are generally multinational consumer goods companies. The multinational organizations of the country of Australia generally consists of the marketing data that includes potential sensitive data sets like the information regarding the customers of the company, the strategies of the future products and the services of the company in discussion.
In the recent time, the context of the cyber crime has been one of the major illegal activities that are generally undertaken by the criminals for the gain in the finances. Such of the activities tend to exploits the vulnerabilities with the usage of the internet, platform of the social media and the electronic systems for illicit access of the services or the information that are generally used by the business and the government. The society being more dependent on the accuracy, continued availability and the confidentiality of the information and the communications, the cost of the cyber attacks and the crimes are immense over the production of the multinational organizations. The study highlights how the Australian multinational consumer goods companies face challenges due to the loss of their confidential data due to the cyber attacks.
It is important to maintain the confidentiality of the data of the customers of the multinational organizations to make the business run successful. Illegal obtaining of the data set at some of the immense prices are some of the factor of the cyber threats that are used by many of the competitors for the development of the strategies of their own product ranges.
The aim of this study is to analyze the effect of the loss of the confidential market data of the Australian multinational consumer goods due to the cyber attacks. The research aims to find out the various challenges faced by the multinational companies of Australia together with the understanding of the importance of the confidential data of the company towards its growth and services. The research also aims to explain the potential loss of the data of the consumer good companies towards the loss of the consumer trust due to the cyber threats.
H0: The cyber attacks does not effects on the loss of the confidential marketing data of the multinational organizations of Australia
H1: The cyber attacks effects on the loss of the confidential marketing data of the multinational organizations of Australia
The cyber threats for the multinational organizations throughout the world have been an are of growing concern (Guo et al., 2018). The data integrity attacks together with the hacking and manipulating of the data sets of the company by the hackers and the third parties often tends to mislead the companies towards making wring decisions. According to Agwu (2014) in the research study stated the potential impact of the loss of the confidential data of the customers of a consumer goods company led the multination company face huge loss in the production and the reputation in the market. This drastic fall was also due to the product duplicity of the company by another rival company. As per the internal company analysis, Ajayi (2016) in the research paper clearly stated how the loss of confidential data set of a company results in the loss of the revenue and the company and the damage of the reputation of the company. In the modern digital age, the news tend to ravel fast and the results of the loss of the confidential data loss results in negative publicity and permanent damage of the business reputation. Ambikar (2014) illustrated the instances of the exposure of the confidential information which invites a lump some amount of fine by the office of the consumers and legal actions against the multinational organizations due to negligence.
Ablon et al. (2016) in the research paper focused on the factor of the loss of the customer loyalty after the loss of the data from the company. The loss of the confidential data set for the company tend to have number of non financial and economic effects targeting the worst possible outcome, the permanent business failure.
Successful cyber attacks tend to cause major damage to the business of the multinational organizations (Watkins, 2014). It affects the bottom line, the trust of the consumer and the base on which the consumer has business has been standing. According to the analysis of Klimburg and Zylberberg (2015), the relevant economic cost of the cyber attack on the multinational organizations results in some of the substantial financial loss. These includes theft of the financial information’s related to the details of the bank and the details of the payment cards. Singhal and Kar (2015) in the research study pointed the factors of theft of the corporate information, theft of the money and the loss of the contract of the business contributing to the effects of the cyber threats (Noel et al., 2015).
Thus it can be summarized that the cyber threats tend to have negative impact and consequences on the productivity of the multinational organizations. The loss of the confidential data sets of the company including the financial data, the consumer data which are the major components of the business results in the uncontrollable risks for the multinational organization to sustain in the market (Biener, Eling & Wirfs, 2015).
Towards the analysis and the development of a study in a detail basis, the research philosophy is considered to be an important option. There lies three of the main categories of the research philosophies namely interpretivism, positivism and the realism. According to the research by Yin (2017), interpretivism helps in dealing with the management activities and the functions. In this particular study the interpretvism research philosophy will be used since this will help the researcher to investigate the issue in a critical and logical manner. Among the three major categories of the research design, the descriptive, the explanatory and the exploratory, the study will include the exploratory design. This is because, this design helps in the development of the connection or the relationship among the two variables under consideration (Flick, 2015).
For conducting this particular research study, the data that has been used is basically raw data from the secondary sources. The research philosophy that will be used are interpretivism.
The research onion will basically helped for the development of the research paper. Each of the layer of the onion will help the researcher with some of the authentic and efficient information that are directly connected to the study. The research study will furthermore use numerous tools for gaining of the deep knowledge regarding the topic of the research. The research onion includes six layers. These are research philosophy, strategies of research, procedures, choices, time and the techniques of the research. These designs will help the researcher for meeting the objectives of the research study in an efficient way.
(Source: Saunders et al., 2009)
This study will basically depend on the collection of the raw data sources. The data sources will be collected from the company websites, the newspaper articles publishing the downturn of the company, the financial report of the company and the governmental websites of the country of Australia publishing the effects of the cyber threats on the multinational organizations.
The sampling technique that will be used for the conduction of this particular study is non probability convenient sampling technique.
For carrying out efficient analysis of the data collected from the secondary sources by the means of research , the collected data will then be transformed in percentages and numeric’s for the obtaining of the comparison and the comprehensive data’s of the gathered information. This would be the variable data in the paper. For the effective evaluation of the data, the numerical digits thus obtained will be demonstrated in the form of the charts, graphical representations. Some of the descriptive statistical tools that will be used for the data analysis and calculation are the tools of standard deviation, mean, median, mode and the correlation and regression analysis of the research data findings.
Strict guidelines related to ethics will be followed during the process of the entire research study. For the purpose of the collection of the raw data from the secondary sources, proper referencing and citation of the sources of the data will be followed to avoid any sort of activities and actions related to plagiarism.
As per the view of Yin (2017) there have to be a number of various limitations of a research study no matter the level of the explanations. Time has always been an issue or problem targeting the limitation in the research study. In addition to the time, the lack of the availability of convenient resourced of the topic is also major factor of limitations of the study. It might further happen that the few of the resources remain inaccessible. However the research study has to be initiated to be planned in a appropriate way towards helping for the completion of the research in the correct way.
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Figure: The Gantt chart
Source: (created by the author)
References and Bibliography
Ablon, L., Heaton, P., Lavery, D. C., & Romanosky, S. (2016). Consumer attitudes toward data breach notifications and loss of personal information. Rand Corporation.
Agwu, M. E. (2014). Reputational risk impact of internal frauds on bank customers in Nigeria. International Journal of Development and Management Review, 9(1), 175-192.
Ajayi, E. F. G. (2016). The Impact of Cyber Crimes on Global Trade and Commerce. Available at SSRN.
Ambikar, H. (2014). U.S. Patent No. 8,756,087. Washington, DC: U.S. Patent and Trademark Office.
Ben-Asher, N., & Gonzalez, C. (2015). Effects of cyber security knowledge on attack detection. Computers in Human Behavior, 48, 51-61.
Biener, C., Eling, M., & Wirfs, J. H. (2015). Insurability of cyber risk: An empirical analysis. The Geneva Papers on Risk and Insurance-Issues and Practice, 40(1), 131-158.
Flick, U., 2015. Introducing research methodology: A beginner’s guide to doing a research project. Sage.
Guo, Y., Sun, D., Li, G., & Chen, S. (2018, October). Examine Manipulated Datasets with Topology Data Analysis: A Case Study. In International Conference on Information and Communications Security (pp. 358-373). Springer, Cham.
Klimburg, A., & Zylberberg, H. (2015). Cyber Security Capacity Building: Developing Access.
Noel, S., Ludwig, J., Jain, P., Johnson, D., Thomas, R. K., McFarland, J., … & Tello, B. (2015). Analyzing mission impacts of cyber actions (AMICA). In NATO IST-128 Workshop on Cyber Attack Detection, Forensics and Attribution for Assessment of Mission Impact, Istanbul, Turkey.
Press, G. (2018). Cybersecurity By The Numbers: Market Estimates, Forecasts, And Surveys. Retrieved from https://www.forbes.com/sites/gilpress/2018/03/15/cybersecurity-by-the-numbers-market-estimates-forecasts-and-surveys/#5d387c7512c4
Saunders, M., Lewis, P. & Thornhill, A., 2009. Research methods for business students. Pearson education.
Singhal, H., & Kar, A. K. (2015, August). Information security concerns in digital Services: literature review and a multi-stakeholder approach. In Advances in Computing, Communications and Informatics (ICACCI), 2015 International Conference on (pp. 901-906). IEEE.
Steffi, Dr., (2017). BUSN20019 assessment 1.2 briefing. Retrieved from https://www.youtube.com/watch?v=Az_GDNfpSSM
Wall, M. (2018). Firms buy insurance ‘in mad panic’ as cyber-attacks soar. Retrieved from https://www.bbc.com/news/business-42687937
Watkins, B. (2014). The impact of cyber attacks on the private sector. no. August, 1-11.
Yin, R.K., 2017. Case study research and applications: Design and methods. Sage publications.
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