Posted: November 14th, 2022

Effectively oversee the management of the firm’s assets

Objective: Effectively oversee the management of the firm’s assets.
Introduction: The Internet provides significant cost advantages for Small Business to immediately be in business with national and global exposure. While the benefits for business to leverage the Internet infrastructure are immense allowing communication and online sales to be faster and more efficient than ever before, so too are the numerous security risks. All small business entrepreneurs, owners and managers need to understand what they are dealing with and how to minimize and prevent Internet security risks.
Deliverables: Minimum 3-page paper
Activity Details:
Step 1: Introduction and Research
Research the Cline Library and/or the Internet, books, journals, etc. about potential risks related to hackers and protecting sensitive information from theft in small businesses. Write an introductory paragraph about the importance for small businesses to protect sensitive information from Internet hackers and thieves.

Continue to research the online library and the Internet to make a list of potential risks related to hackers and protecting sensitive information and identity theft in small businesses.
Step 2: Write a 3-page essay:
• Provide a list for each of the identified potential security risks (6 or more).

• Provide a narrative for each of the identified Internet security risks with a description how the security risk operates.

• Provide a best practice preventive measure narrative for each of the Internet security risks identified with a description how the preventive measures will minimize the security risks.

• Consider the trend for small businesses taking advantage of Cloud computing resources and answer whether you think Cloud computing is more or less secure; why or why not?

Step 3: For the conclusion paragraph summarize what you have learned about the potential risks related to hackers and protecting sensitive information from theft in small businesses by deploying best practice measures to minimize Internet security risks. Please review the link provided below, containing the essay rubric, prior to proceeding:
• Essay Rubric

Small businesses have one factor in common and that is the lack of adequate resources and capacity. The lack of resources and capacity influences how the management of the business makes decisions on the allocation of resources. Often, the resources may be directed to neatly everything else but internet security. Small businesses seem not to realize the measure the internet security threats faced hence not putting in place standard measures for the mitigation of cyber threats and hack attacks. This essay focuses on some of the internet security risks facing small businesses. The risks covered in this analysis include malware attacks, cloud data concerns, and attacks on social media. The small businesses also face attacks on mobile devices, on emails through phishing, and on the possibility of attacks through ransomware targeting key data for the small business.
Malware attacks encompass any attacks using viruses, worms, and Trojans. The attack occur when the small business downloads online content or when using USB drives and external hard disks that are common methods of transmitting data. Malware attacks allow the hackers to compress and exfiltrate data from the small businesses. This data may include banking information and client books. To prevent this risk the small business needs to invest in antivirus software.
Due to shortage of resources, the small businesses prefer storing data on the cloud at a small cost to the business. The challenge with cloud storage of data is that it can be easily accessed if a hacker accesses any of the platforms used to upload data to the cloud. Besides, the data may be accessed if the small business does not understand how the cloud operates. To mitigate this risk, the small business must not store sensitive data on the cloud so as to minimize the impacts on the business should such attacks occur.
Small businesses use social media for marketing campaigns and therein they provide information on business location and the contacts. The small businesses also interact with the clients on social media platforms. This puts to the public critical information about the business and makes it an easy target. The attack may begin with the brand of the business as well as hijacking of the social media platforms by the hackers. The hackers can then reach the clients of the business, demand payments, and other such concerns. In order to prevent the attacks, the businesses should ensure that critical information such as identifying and specific information about clients is not publicized on the social media platforms. Controlling what information can be seen by the public on the social media would be a appropriate staring point in the mitigation of this risk.
There is also the risk of attacks on mobile devices such as phones. Hackers understand that small businesses may conduct nearly all business activities through one mobile device and that is the phone. The hacker only requires the phone number then they can clone the device and access messages and calls dat. Where banking operations are also done through the phone it becomes possible for the hackers to steal such data and steal financial resources from the business. In order to mitigate the risk it is always good to ensure that all software and applications are up to date. The small business must also ensure that the devices are not used to download applications and data indiscriminately as the downloads may increase the risk of attacks.
Phishing is another common form of attacks for small businesses. A hacker intent on accessing certain information may send phishing emails and messages to the small businesses. In case the small business rushes into responding to the phishing emails and messages, then it may give the attackers information that may be used for other attacks. The small business must always confirm the authenticity of information sent through emails and messages before responding to such emails and messages. This would prevent the business from diverting essential information that may be used by the attackers.
The last major attack is ransomware. The attackers may install ransomware on the devices used by the small business thereby locking the owners out of the business. The owners would then be required to pay a certain amount as ransom in order to be allowed back to their systems. However when this happens, the attackers often leave tunnels and backdoors to exploit the small business owners at any other time in future. Instead of rushing into paying the ransom it would be important to focus on how the attacks may occur. Having data backups may also help the business in avoiding the ransom.
In concluding, this essay focused on the internet risks facing small businesses. The essay demonstrates that there is a wide array of possible attacks on the small business. The small businesses are very vulnerable to all these attacks because of the shortage of resources and possible lack of capacity. However, simple day to day activities such as those highlighted in this analysis may help the business to mitigate the risk of these attacks.

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