Discuss About The Risk Identification Assessment In Business.
The Net Movies Company is looking forward for applying legislation obligations to manage the confidential data of the user in their databases. The proposed online project is deficient in handling privacy policies because no internal security methods are indulged in the development program of the application. The success of the project depends on the implementation of security and privacy procedures which are being used in the system development. The inadequacy of the company information system can be resolved by applying the privacy policies associated with the database of the customers. Some of the recommended privacy policies which should be used by the company are such as company should provide login ID and password to the user for accessing their account, encryption and decryption methods should be used for storing the information in the database in the form of cipher text to secure it from cyber-attack, session cookies should be inserted for the automatic closure of the account due to session time out, and etc[1]. These privacy procedures help in securing the confidential data of the customers from leaking to the third party.
The CEO of the Net Movies is advised to look into the security procedures which are not used in their system. It is recommended to deploy some security policies and procedures for securing the transaction of customer confidential information. The inclusion of proposed policies helps in increasing the efficiency and effectively of the business operation and result into long term sustainability of the enterprise. It is recommended that the policies should be developed for securing the personal information of the customer from disclosure to the third party.
The new policies which are designed for the Net Movies Company are that only the authorised account holder will be able to access their private information from the database of the company[2]. The monitoring and control policies should be developed to control the hacking of the packets during the packet transfer of the information. The authentication to the account holder is provided by generating the unique login credentials for the participating customers. The user can access their account by getting the login credential verified and validated at the company’s end. After get verification, the user is liable to use their account detail for further transaction. The other procedure which is recommended for securing the information of the user is encryption and decryption methods should be used for storing the information in the database in the form of cipher text to secure it from cyber-attack[3]. These two procedures helps in resolving the risks associated with the disclosure of the confidential information of the user to the third party. The secure transaction of account helps in increasing the satisfaction and confidence of the customers which in turn results into increase in profitability ratio of the enterprise.
The training and development program should be arranged for the working employees to follow the ethical code of conduct at the work place. The privacy policy agreement should be signed with the client on the non-disclosure of the private information of the business to the third party.
Monitoring controls should be laid down for analysing the verification and validation process which is associated with the login process of the customers. It helps in accessing the account by the authorised user only.
The CEO of Net Movies company is asked to deploy new privacy policies framework within the operational program of the enterprise. The framework of privacy policies should focus on the copyright policies and the ethical policies.
The copyright act and policies should be followed for using the musical data, films, movies, broadcasting of the sound recording. The legal obligation should be imposed so that the rights of the owner should not be misused for broadcasting the movies. The copyright Act 1968 should be followed for the development of the online portal for the company[4]. The permission should be granted from the film maker to broadcast their movies on the website.
The ethical policies should be created for resolving the conflicts associated with the unethical behaviour and response given by the staff member during their working curriculum. The success of the company depends on the working capability of the employees. The staff should work as a single unit to achieve the objective and mission of the Net Movies Company. The code of ethics should be developed for guiding the employees about their right and responsibilities. The staff should take the responsibility that they will not disclosed the confidential information of the customers and business to the third party. The information should be shared with the customers after the verification of their login credentials. The ethical behaviour should be shown by the working staff to maintain integrity, fairness, and honesty in the working culture.
It is advised for the company to develop an infrastructure for the business which is composed of 1 manager who is responsible for administrating and monitoring all the activities lay down by the company, 5 staff members who are responsible for carrying out operations related to Microsoft office, and 2 sales officers for developing market plans for the company. The backup support should be managed for carrying out activities related to the sharing of files among the customers. The computer system should have a capability of accessing internet facilities for sharing of movies file among the customers. The memory capacity of the proposed system should be equivalent to 500 GB and 8 GB RAM for higher processing efficiency. The offer price of the proposed system is about $ 300 with the inclusion of 20% discount. The increased capability of the proposed system helps in increasing the sharing of files among the customers. The proper management of demand supply of the movies results in happy customers. The happy customers results into increase of profitability ratio of the enterprise.
It has been noticed that the customers are having some grievances with the payment system because there are some inefficiency with the deployed accounting system of the organization. It is required to develop some policies to handle grievances of the employees. The organization should designed a grievance management system for the company so that the customer can escalate their complaints in regards to the customer payment system. The account officer should take the responsibility for updating the invoice of the customers according to the payment done. The human resource department should be developed for handling the grievances of the customers effectively. The escalation should be closed after taking acknowledgement from them about the services provided. It helps in improving the quality of service provided to the customers[5]. The required action should be taken for revising and updating the invoice database of the customers. The negative and the positive feedback help in expanding the grievance handling procedure which helps in providing quality of service to the customers.
The evaluation of the proposed e-commerce website for the Net Movies company is analysed that the system is equipped with various risks and threats. The risks which are identified in the system are categorised as risks associated with security procedure at client and server end, non-availability of the firewall, unauthorized accessing of the customers’ accounts, non-reliable cryptographic procedures, malicious and viruses attacks on the company premises, inefficiency in the management of accuracy in the payment database of the customer, and older version of the technology which can be easily hacked by the hackers.
It has been analysed that there are some threats which are associated with the proposed system due to the uncertainties of the website[6]. It can be the possibility that the confidential information of the customers can be leaked out due to the use of older version of the information system. The inaccuracy in the account management system can result into wrong payment from the customer end which can result into the loss of customers or company. The customers get unsatisfied with the inefficiency of the invoice management system which can have an adverse effect on the company long term sustainability program.
The user friendly environment should be provided to the customers on the use of ecommerce website. The development strategy should focused on the target audience and their required need. The interface should be easy to access as it is not going to be developed for the expert group of professional. The graphics icons should be used because it helps in increasing the approach of the customers.
The functionality of the system is majorly affected by two types of risks such as system risks and internet risks.
The resource planning is the important step of risk management because it helps in eliminating the uncertainties associated with the company working process structure[7].
The internet risks can be controlled by providing login credentials to the customers for securing their information from hacking. Password policies for authentication should be deployed with the unique customer ID saved at the database[8].
The review process should comprised of following steps:
References:
Floarea, N., Risks Management for E-business, 2012 < https://www.researchgate.net/publication/26589180_Risk_Management_for_e-Business> [Accessed 12 April 2018]
Harvard Community, Reflection on the digital world, 2016 < https://dash.harvard.edu/bitstream/handle/1/13632937/IM2016_ReflectionsontheDigitalWorld%5b1%5d.pdf?sequence=1> [Accessed 12 April 2018]
James Cook University Australia, Corporate policies and procedures, 2012 < https://www.jcu.edu.au/policy/student-services/copyright-policy-and-procedure> [Accessed 12 April 2018]
Shankar, S, Company Ethical Policies, 2014 < https://smallbusiness.chron.com/company-ethical-policies-4889.html> [Accessed 12 April 2018]
Strauss, L, Business ethics, 2010 < https://www.inc.com/articles/2000/10/14404.html> [Accessed 12 April 2018]
Swyers, M., Steps for handling the customer complaint, 2013 < https://www.inc.com/matthew-swyers/5-steps-to-handling-a-customer-complaint.html> [Accessed 12 April 2018]
Visa Asia Pacific, Electronic Commerce Risks Management, 2010 < https://www.stgeorge.com.au/content/dam/stg/downloads/Merchant_%20ecommerce_merchant.pdf> [Accessed 12 April 2018]
Wang, L and Zeng, Y., The risk identification and assessment in E-business Development, 2011 < https://link.springer.com/chapter/10.1007/11540007_148> [Accessed 12 April 2018]
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Contact Essay is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.
Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Essay Writing Service Works
First, you will need to complete an order form. It's not difficult but, in case there is anything you find not to be clear, you may always call us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order form
Once we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignment
As soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download