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Why Is Information Security Important For A Business?

Why Is Information Security Important For A Business image
Why Is Information Security Important For A Business?

Imagine your credit card PIN leaked through the cracks of your bank's poor information security standards? Apart from the emotional draining disputes, lawsuits or legal consequences.

Can you picture the loss of trust, bad customer reviews, effect on their professional reputation and the negative publicity surrounding the incident?

(What Are The Different Types of Security Breaches?)

Trust Is An Essential Element In Every Relationship:

People only do business with Companies they trust. Every business makes a promise to protect customers and vow to professionally fulfill that oath or carry the cost.

There's a thin line between providing a secure service and maliciously exposing customers.

If for some reason you cross that line: Share holders, Officials, Managers, owners or employees will risk criminal charges.

Why Is Information Security Important For A Business?

The power and risks of being entrusted with all kinds of personal and sensitive customer data is a Major responsibility. We actually discussed some of the most lethal cyberattacks in: What are three types of data breaches?

This makes it crucial for businesses to secure information from internal and external leaks, threats, or exposure.

Because if it lands in the wrong hands. It could destroy the livelihoods of multiple Customers, income of families, reputations of corporations or credibility of shareholders.

The Opposite Of Information Security Is Malicious Exposure

In order to fully appreciate the benefits of data protection. You first have to understand the risks associated with losing it to criminals.

Whether you lose your company secrets to Corporate Espionage, network hacking, distribution-of-data, brute-force attacks or pure negligence.

In all situations the outcome destroys your company's profits, existence and future growth.

The Security Of Information Is Key To Every Commercial Success

Imagine the following dire consequences. Let's use general examples to drive the point even further home.

The protection of information is not only to protect Customers, but also the confidence and health of your business.

For Instance let's take:

1. A Big Corporation Like Google

Would they still keep their Crown as the best search engine. If their internal ranking, or algorithm secrets were publicly exposed.

It wouldn't only flood the search results with junk content ranking higher than before.

But also turn users to better alternative search engines that provides better information.

Aside from this catastrophe, they also have large quantities of sensitive data to account for.

Specifically Gathered from years of online global user activity records, cookies, search technology, transaction histories, etc.

If they don't keep strict information security policies on employees and browsers. Their entire Search Engine Tinanic will sink.

2. If Coca Cola's Secret Ingredients Were Stolen

The world class soft drink would collapse from unique to below average.

The ultimate essence that sets them apart from the rest, would be diminished to zero.

Their signature taste would now be as common as any "sweet aid powder".

Not only does this apply to the soft drink industry. But also restaurants, clothing designers, construction businesses, architects, web designers, content marketers, promotional ventures and so on.

(Are Information Analyst Employees In Demand?)

They all have different forms of information they'd rather keep private. Because it conceals their identities, strategies and also the privacy of their customers.

3. Premium Class Information From Universities

This type of data is expensive, refined, structured and in a class of its own. If this information were random like Google Searched Data it wouldn't be called Premium.

It's Generally the thoroughly researched, tried, tested and proven types of documented data. It's usually very expensive to obtain.

Plus Universities and Colleges also keeps sensitive financial records of their members, subscribers or students.

Why Is It Important To Have A Good Understanding Of Information Security Policies And Procedures?

The most obvious advantages are that it keeps you compliant, secure, trustworthy and functional as a legally registered business.

It shapes your professional conduct in such a manner that it ultimately propels reliable business-practices.

It's therefore crucial for every undertaking to ensure employees from top to bottom; are well-versed in respect of adherence to information policies.

Make it a habit to Carefully scrutinizing data laws and regulations; which are always subjective to change.

Due to the influx of new mobile computing devices that floods the market and shape the corporate world.

  • Pay legal experts to drafting strict information Security Policies, implement complimenting cybersecurity technologies and infrastructure.
  • Include data insurance fallback plans, to support your undertaking in an ultimate crisis like unforseen network failures.
  • Understand that your Success depends on abiding to strict rules, do your part to protect yourself from potential lawsuits or legal action.
By Committing To You End Of The Bargain:

You get to keep your professional status, job, stay in business and shape a brighter future going forward.

You also gain the benefits of learning about the various forms, levels and importances of Different types of data sets.

In Summary:

Information Security Is Important for a Business if they want to stay legally compliant. It also s mandatory and also improves your professional attitude.

It should be included in your S.W.O.T analysis (Strengths, Weaknesses, Opportunities And Threats). Because it involves the information management parts of the organisation.

Negligence will run the risk legal threats of loss, failure, credibility. Which ultimately translates into paying heavy fines beyond your profit margins or business suicide.