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Security management

In the new world of technology, it is vital for the business management to actively and aggressively respond to major security challenges. The management has to work out common standards of information security risk assessment and mitigation.

The challenges of the Information Age

Use Balanced Scorecard metrics designed in Excel to measure IT security performance.

The Information Age has brought record challenges to security and privacy. The “cyber world” has no physical borders. An individual with the anger, audacity, and certain skills may attempt to launch a cyber-attack against an enterprise or government organization physically located in a different part of the world that could severely disrupt one or more critical infrastructures and threaten the financial prosperity and even lives of a large number of people. What's more, a minor security breach resulting from an error of someone on the company’s staff may have catastrophic consequences.

Comprehensive security management

Information security field has grown from a back-room activity of a bunch of practitioners to an area of expertise that requires broadest skill and ability to survive in the world of rapidly expanding complexity and change. Business and government organizations have to manage corporate networks typically connected to the internet which makes them highly interconnected and dependent upon each other. The new world of information has erased old barriers and raised new vulnerability areas and avenues of attack associated with vastly greater risk.

In this context, the lack of education and superficial awareness of information and privacy risks in the company management can threaten the whole business environment and cause serious reputation damage, financial losses and even bankruptcy. In fact, management typically prefers to allocate funds to activities that it believes will more obviously improve the company’s bottom-line performance while disregarding associated security risks.  

Unfortunately, there are no standardized, automated practices of information risk analysis. To enhance the company’s IT infrastructure and information security, the management has to employ diverse risk assessment practices that are for the larger part qualitative and subjective. The lack of firmly established language and metrics of information security risk, risk analysis and assessment, and risk management is a major setback in creating strong security strategy.

The company’s management has to recognize these information security issues and create the company’s security profile. It is essential to apply foremost technology solutions to locate, identify and protect the company’s information assets and confidential files. However, it is equally important to force each employee to stick to the rules and be ready to respond to critical information security concerns.  The management has to a) establish a standard language to discuss security risk in terms understood by everyone; and b) formalize standard risk metrics, including a standard population of threats.

Lack of risk awareness could lead to unacceptable, even catastrophic, business losses and facilitate the massive degradation of one or more critical infrastructures.  

More secure information environment

Establishing and adhering to fundamental security principles will contribute significantly to a more secure environment in which information assets can be accessed, processed, transmitted, and stored. The management has to develop comprehensive approach to critical security issues and establish the common metrics of information security risk management and self-regulation within an organization.

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